Cushman & Wakefield bullish on Southwest Florida

Miami /
Aug.August 30, 2015 03:45 PM

Southwest Florida’s economy is strong and its residential real estate markets are sturdy, brokerage Cushman & Wakefield said in a research report on the area.

Unemployment rates have declined as companies have created new jobs in hospitality and business services, and “the Southwest Florida economy continues to exhibit strong growth, in contrast to the U.S. economy,” the brokerage reported.

Realtors in the three coastal counties of Southwest Florida – Collier, Charlotte and Lee – reported an 8 percent increase in June sales of existing single-family homes, compared to the same month last year.

In Lee and Collier counties alone, builders have put up 10,188 new housing units since 2010, almost half of them in the last two years.

Census Bureau figures through July 1 show that Cape Coral is the largest city in Southwest Florida with about 170,000 residents, followed by Fort Myers (70,918), Bonita Springs (49,299), Naples (20,968) and Marco Island (17,460).

“The primary reason for the surge in new housing is a result of a reduction of existing inventory that backed up during the recession,” Cushman & Wakefield reported. – Mike Seemuth


Related Articles

arrow_forward_ios
Rendering of 830 Brickell office tower; Cushman & Wakefield's Brian Gale, JLL's Manny De Zárraga, Avison Young's Donna Abood, Dwntwn Realty Advisors' Tony Arellano and Stephen Rutchik. (Credit: OKO Group and Cain International, JLL, CW, Dwntwn Realty Advisors, Cushman & Wakefield, Avison Young, Getty, 830 Brickell)
Meet the commercial brokers making bank in Miami
Meet the commercial brokers making bank in Miami
Cushman & Wakefield 's Amarjit “Marj” Bains with 701 Brickell Avenue and 703 Northwest 62nd Avenue
Cushman poaches 32 JLL employees who manage trophy Miami office properties
Cushman poaches 32 JLL employees who manage trophy Miami office properties
10181 US Highway 98 West and 39 Sandy Dunes Circle (LoopNet)
Florida Panhandle estate sold for $25M
Florida Panhandle estate sold for $25M
The "Jumanji" house at 9291 Point Cypress Drive in Orlando (Saunders Ralston Dantzler Real Estate, iStock)
“Jumanji” house in Orlando lists for $25M
“Jumanji” house in Orlando lists for $25M
Naples, Florida (iStock, Freepik, Illustration by Shea Monahan for the Real Deal)
Florida’s west coast cities rank among top emerging real estate markets
Florida’s west coast cities rank among top emerging real estate markets
Joel Greenberg's attorney holding legal texts outside of a federal courthouse (Getty)
Joel Greenberg associates indicted on federal real estate fraud charges in Florida
Joel Greenberg associates indicted on federal real estate fraud charges in Florida
Lease roundup: Apparel company inks 142K sf lease in Miami Gardens & more
Lease roundup: Apparel company inks 142K sf lease in Miami Gardens & more
Lease roundup: Apparel company inks 142K sf lease in Miami Gardens & more
Fadia Bassi and Tyler Reynolds (Getty)
Movers & Shakers: Cushman taps former JLL vice president as managing director & more
Movers & Shakers: Cushman taps former JLL vice president as managing director & more
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...