Florida remains the main destination of national and international migrants in the United States, establishing its position as a key state in the country’s migratory map. According to Census Bureau data, an average of 500 new inhabitants arrive every day. While Miami, the city most representative of this trend, received more than 54,000 people in the last year alone.
This steady growth has highlighted the need for significant expansion in housing infrastructure. This, with an estimated shortfall of more than 1.3 million homes, according to projections by Florida Realtors.
The Impact on the Self-Storage Industry
It is worth to mention, that the demand for space is not just limited to housing. The self-storage industry, which offers personal storage solutions, has seen a boom thanks to population growth. A report by Yardi Matrix highlights that supply in this sector will grow by 26.6% in the coming years.
Marcos Victorica, CEO of BAS Storage, highlights that this type of investment is highly profitable:
“Self-storage allows to obtain an annual fixed income of up to 8%, with low maintenance costs and no vacancy risk”.
Marcos Victorica, CEO of BAS Storage
Occupancy currently exceeds 90%, and this figure is expected to continue to increase with the constant flow of new residents.
Florida, at the Center of Political and Economic Change
The recent Republican victory with Donald Trump at the helm promises to position Florida as a strategic axis in the country’s economic development. Trump, with his experience in the real estate sector, generates positive expectations in a market that is looking to recover after years of challenges.
In addition, key figures in the self-storage industry, such as Jefferson Shreve and Troy Downing, will occupy relevant positions in Washington, contributing their experience to boost a booming sector.
In conclusion, The estate of Florida not only continues to attract new residents for its climate and quality of life, but is also positioning itself as a magnet for investors looking for secure and profitable opportunities in an ever-changing environment. The “capital of the sun” is emerging as one of the major beneficiaries of this new political and economic stage in the United States.
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