Home prices in Gainesville increased 5.2% in 2023 compared to the previous year
The summary of the real estate market for July 2023 revealed significant growth in the value of properties located in the city of Gainesville, Florida. The increase in demand for student housing looms as a key factor in this statistic.
This 2023 seems to be a year full of good news for Gainesville, a city noted for hosting the prestigious University of Florida, which has meant significant real estate, economic and technological growth in the last decade.
With this, the city has attracted many students from all over the country and also young professionals, who choose the city over other options to develop their careers and pursue them. The area of medicine, for example, has been increasingly boosted thanks to major medical centers such as UF Health Shand Hospital and the UF Medical Campus.
This has caused a considerable increase in the population each year, also generating a high demand for housing and a strengthening of the real estate market, greatly benefiting this sector of the economy.
Without going any further, according to the Redfin real estate agency and the Rocket Homes portal, the price of homes increased by 5.2% compared to 2023.
How hot is the Gainesville real estate market?
The growing demand for student housing and the arrival of inhabitants from all over the country has become an ideal context for the proliferation of important real estate developments in the city, which seek to satisfy a need that is far from diminishing.
Along those lines, the Gainesville real estate market currently ranks as very competitive, with a score of 75, meaning that many homes receive multiple offers and sell after only 13 days on average.
In addition, almost 40% of the properties were sold above the list price, increasing the security and confidence of investors who are exploring the market.
One of the key factors that has driven this rapid growth is the increasingly prominent presence of student housing, which has improved its quality and comfort over the years.
Student Housing Market
The strong presence of students in Gainesville has made it a city very well prepared for this phenomenon, with a total of 32,825 beds set aside for that purpose, that is, designed exclusively for university students.
These homes enjoy excellent amenities, in addition to being commonly close to the study campuses, which greatly facilitates the transfer of students. The average price of homes per person is close to $1,000, being considered affordable for a large part of the target audience.
Currently, the occupancy of the student residences reaches 95% and the pre-leasing is 83%, confirming the excellent real estate moment that the city is experiencing and also the high demand, a decisive factor when choosing where to invest.
Regarding new real estate projects designed for students, according to the latest report by College House, there are 10 projects on the list to be developed in the coming years within the student housing industry.
One of them is Archer Place, a mixed-use project with condominiums for rent, an exclusive commercial area and residence for university students, located just steps from the University of Florida.
Developed by BAI Capital, Archer Place has been designed to meet the needs of students, but also young professionals and those who are looking for attractive investment opportunities, since it meets all the requirements of the EB-5 Program, which allows them to apply for the Obtaining a Green Card in the USA
If you are interested in learning about the project, fill out our form and one of our agents will contact you. (Form)
Bonus track: From which cities are people moving to Gainesville?
If you want to be even more familiar with the demographic phenomenon of the city, we will tell you from which cities the people who choose Gainesville as a destination to study or live are moving from.
Between May and July of this year, Miami homebuyers looked to move to Gainesville more than any other metropolitan area, followed by Orlando and Tampa.
We leave you a list with the 10 main cities from where inhabitants came to Gainesville in the last year.
Cabo Coral, Florida
San Francisco, California
Nueva York, NY
Investing in BAI Capital is investing in the United States
With a presence in the real estate sector in the states of Florida, Texas and New York, BAI Capital specializes in generating value from the acquisition of land to the development of mixed-use projects, such as residences for the elderly, student residences, multifamily buildings. for rentals and mixed use, including condos and retail.
Our mission is to safeguard the capital of the partners and the own capital under the minimum risk exposure. With a safe development and going through all the stages: Land purchase, adjustment of urban zoning, commercial vision in architectural development and management of building permits. Then, we take charge of the capitalization, construction and exit with return of the capital and profits to the partners.
In this way, we guarantee fixed and stable returns for your client portfolio. In addition to having a confidential work protocol with encrypted web forms. Use of protected personal data and private meetings with our agents throughout Latin America.