According to a Naples Area Board of Realtors report, the home inventory in Naples declined 76% in November 2021, which means that only 1198 houses were available for investment compared to the 5006 two years back. Because of rising job opportunities, high levels of education, attractive locations, ideal climate, and excellent quality of life, everyone is investing in real estate Naples. Keep reading to learn the five reasons you should do the same.
1. Prime Tourist Destination
Did you know that over 1.9 million tourists visited Naples in 2019? This is more than twice the number of its 21,812 population. Since Naples is expected to remain high in demand in the upcoming years, there’s no better time to invest in real estate than today. From Tin City’s open-air shopping experience to the Naples Zoo in the Caribbean Garden and the Village Shops located on Venetian Bay, Naples is home to some of the most beautiful and exquisite places in the state.
2. Low Taxes
Compared to the national average, the property tax rate in Naples is 1.15%. So, if you want to maximize your return on investment (ROI), purchase a home in Naples like every real estate investor.
3. High Average Income
Naples’ average household income in 2020 was $118,141, which is much more than the national average. Naples is a middle-upper-class city, therefore, you can easily find tenants for expensive rental properties as well.
As long as the tourism industry in Naples remains robust in the beach, dining, shopping, and golf sectors, it is also anticipated that real estate Naples will continue to appreciate in value. This will create a steady market of tenants for investment properties and stabilize the demand for short-term rentals throughout the year.
4. The Perfect Retirement Location
Unlike any other city in Florida, Naples has 264 days of sunshine and an all-year-long warm and cozy climate, making it the ideal place to move in after your retirement. The homestead tax exemption policy gives people over the age of 65 permission to deduce part of their property’s value from the taxes. In addition to this, Florida’s no tax on social security payments, IRA 401Ks, pension income, inheritance, and state income, makes Naples one of the most affordable places for retirees to invest in.
5. Vacation in Your Own Rental Home
The biggest advantage of owning a house in Naples is that you don’t have to worry about accommodation when on vacation. You can simply live in your own real estate Naples property and enjoy all the luxuries while saving on hotel expenses.
Start Investing in Real Estate Naples
The most challenging part of investing in real estate Naples is finding the right property. With the aim to make the buying, renting, and selling process easier and more efficient, the team at the Southwest Florida R.E Group provides you with all kinds of real estate-related services. To purchase home in Naples, give us a call or visit our website: https://www.swflregroup.com/.