The economy of the USA is stable and evolving that makes foreigners consider various spheres for investment in the country. The sphere of real estate is known as one of the most beneficial and safe both for increasing capitals of foreign and local buyers. Palm Beach in Florida has gained an extreme population among foreign real estate buyers. The destination is famous for outstanding climate conditions, friendly locals, resort lifestyle and affordable housing. Apartments in Palm Beach are located in exclusive communities and possess many upmarket features.
About Florida in numbers
Florida’s $1 trillion economy is the fourth largest in the United States. If Florida were a separate country, it would be the 16th largest economy in the world and the 58th most populous country. The median income of a Florida resident in 2017 was $47,684, the 26th highest in the United States. The unemployment rate is a modest 3.5%, ranking Florida 18th in the United States.
The overview of Palm Beach in Florida
Florida’s most luxurious and famous resort, Palm Beach is home to the highest density of billionaires per square meter of its insanely expensive area. The city takes an extremely beneficial location – right between Miami and Orlando on the Atlantic coast. Looking at the shoreline, you may notice gorgeous houses and residential complexes that compete in beauty. Regardless of many water reserves the area provides, most residents are attracted by breathtaking beaches of the ocean.
If you still have some doubts about the necessity of home ownership in the USA, in Florida in particular, we are ready to provide several convincing reasons:
- Constant development of real estate market
- Tax-friendly environment
- Multiple head offices of international corporations
- Beneficial conditions for children
- Frequent cultural events.
Constant development of Palm Beach real estate market
Palm Beach has been entering the list of the destinations with the highest activity in sphere of luxury real estate for many years already. The city can be called an area of concentration of foreign investments. The pandemic slowed down the movements on the market a little bit and the prices went down. But the market has revived and now shows only positive statistics.
The area boasts of extremely high demand for luxury real estate. Many record transactions are registered in Palm Beach.
Tax-friendly environment for making investments
The state of Florida provides the most beneficial tax-friendly laws and terms. Many citizens of the USA as well as residents of other countries have recognized the huge investment potential of Palm Beach and have changed their location. Comfortable climate coupled with low taxes are excellent conditions for real estate purchase.
Abundance of international corporations
Huge international corporations as well as single investors moved from tax-burdened communities to a more profitable one. Low corporate tax and absence of income tax for citizens force many major industries to relocate their head offices to Palm Beach.
Perfect location for families
Palm Beach offers impressive opportunities for versatile development of children of different ages. High quality of education, multiple educational establishments, and the possibility to choose any activity from horse riding to golf help children to learn the world and stay open to new experiences.
There are some neighborhoods that offer extremely good ecological conditions and greenery. Such an atmosphere is a must for kids.
Events on various purposes
Palm Beach offers a scope of events that are aimed at preserving cultural and historical dignity of the USA. Besides, there are a number of theaters, cinemas, opera houses, and other important art establishments to guarantee the outstanding cultural life of the residents.
Source of information about real estate in Palm Beach
Looking for a suitable apartment in Palm Beach or any other destination of the state of Florida, visit the website Florida.Realestate. Here you will find a detailed description of each housing unit available in the region. Outstanding pictures of high quality are presented on the website as well. Exploring the selection of apartments from famous developers and reliable real estate agencies, a buyer has an exclusive opportunity to invest in an economically stable region and outstanding real estate.
On the whole
Citizens of the USA and residents who relocated there for permanent stay are used to the rule of a 50/30/20 budget split. This is a typical American rule that is followed by most people:
- 50 percent on income spent on necessities
- 30 percent spent on entertainment
- 20 percent are saved for the future investments
Make sure that your budget allows you to stick to the rule. With this data in mind, it’s important to make wise decisions about savings, the way you earn money, and plan your income and expenses accordingly.