Britain’s unprecedented decision to leave the European Union this past month left everyone on both sides of the Atlantic scrambling. U.K. legislatures are still trying to mete out assurances to foreign and domestic financial institutions on the continued stability of the British market, but as the Pound continues to drop, questions are still being asked. Florida has long since had a close relationship with U.K. investments as it has been a favorite vacation spot for Brits on holiday and Tampa, in particular, has benefited from this relationship due to it’s sunny beaches and proximity to Disney World. Though the immediate fallout from ‘Brexit’ has not had any noticeable impacts on foreign investments in Tampa, widespread uncertainty is giving real estate investors and developers concerns.
Investors should be somewhat appeased by the viability of Tampa’s real estate market. Despite uncertainties raised over ‘Brexit’, Tampa real estate markets have been on a steadily increasing return to pre-recession levels. ‘Brexit’ could also be good for Tampa’s single family residential markets. With currently low inventory and high demand for residential properties in the Tampa Bay area, some strain on residential investors may be alleviated if property owning Brits choose to sell their assets. Though the realities and consequences of the ‘Brexit’ aftermath are still unfolding, real estate investors and developers in the Tampa Bay area should not be pushed into panic or find cause to be overly-concerned. The ‘Brexit’ road is going to be a long and tedious process and there are many factors to be accounted for, but Tampa’s real estate markets remain strong and Florida remains a hot-spot for both foreign and domestic real estate investing.
What ‘Brexit’ Means for Tampa Real Estate
Britain’s unprecedented decision to leave the European Union this past month left everyone on both sides of the Atlantic scrambling. U.K. legislatures are still trying to mete out assurances to foreign and domestic financial institutions on the continued stability of the British market, but as the Pound continues to drop, questions are still being asked. Florida has long since had a close relationship with U.K. investments as it has been a favorite vacation spot for Brits on holiday and Tampa, in particular, has benefited from this relationship due to it’s sunny beaches and proximity to Disney World. Though the immediate fallout from ‘Brexit’ has not had any noticeable impacts on foreign investments in Tampa, widespread uncertainty is giving real estate investors and developers concerns.
Investors should be somewhat appeased by the viability of Tampa’s real estate market. Despite uncertainties raised over ‘Brexit’, Tampa real estate markets have been on a steadily increasing return to pre-recession levels. ‘Brexit’ could also be good for Tampa’s single family residential markets. With currently low inventory and high demand for residential properties in the Tampa Bay area, some strain on residential investors may be alleviated if property owning Brits choose to sell their assets. Though the realities and consequences of the ‘Brexit’ aftermath are still unfolding, real estate investors and developers in the Tampa Bay area should not be pushed into panic or find cause to be overly-concerned. The ‘Brexit’ road is going to be a long and tedious process and there are many factors to be accounted for, but Tampa’s real estate markets remain strong and Florida remains a hot-spot for both foreign and domestic real estate investing.