Fort Lauderdale Real Estate: the Venice of America

By: Hector Lesende

Located in Broward County in Florida in the United States of America, Fort Lauderdale, known as the Venice of America, is a metropolitan city that happens to be the most prominent city in the South Florida Metropolitan area. Fort Lauderdale is especially recognized as a tourist destination and entertains more than 10 million tourists annually . It has been given the tag of a metropolitan city mainly because of the diversity in culture. The city derived its name from a series of forts built by the US during the Second Seminole War. The forts, in turn, had taken their names from Major William Lauderdale, the commander of the troop of soldiers who built the first fort.

Situated at 26?08'09"N, 80?08'31"W, the city has an area of about 36 square miles. It has a long stretch of beaches as it lies adjacent to the Atlantic Ocean. Fort Lauderdale is bordered by Wilton Manors and Pompano Beach in the north, Lauderhill and Cooper City to the west, Hollywood and Dania Beach to the south and Sea Ranch Lakes to the east. Climatically, too, the city is diverse since it is affected by two kinds of weather yearly. In the summers the weather is hot and wet and winters, on the other hand, are dry and cool. The place is also affected occasionally by hurricanes.

The city of Fort Lauderdale has a population of around 173,000 and the population density is about 4, 800 per square mile in an area totaling 36 square miles. English is the first language followed by Spanish, French Creole, French and finally Portuguese. Fort Lauderdale real estate has doubled in value in recent years. Median home value is close to $400,000. Median home age is 38 years.

Infrastructure is very good in the city of Fort Lauderdale, education and transport playing an instrumental role in the framework of the economy. Though the level of education is slightly lower than the national average, the city of Fort Lauderdale, falling under the Broward County Public Schools has more than 23 public schools within its working area. Apart from this, five institutions of great repute are situated in Fort Lauderdale-The Art Institute of Fort Lauderdale, Florida Atlantic University, Florida International University, Nova Southeastern University and Broward Community College. Transportation facilities are ample considering that the Fort Lauderdale Airport is nearby and happens to be one of the fastest growing airports. Among the local transportation available, buses and rails rule the roost providing for the basic need of connectivity. Las Olas Boulevard is the heart of the city.

Fort Lauderdale has an economy that is mainly dependant on tourism. Though initially the city was just a vacationing spot for college students in spring break, through the years it has turned you to be more a destination for the rich and affluent. It is also a major yachting center and the boating industry is naturally thriving and contributes a lot to the gross product. With tourism being the most vital component in the economy, the real estate market has grown rapidly in Fort Lauderdale. Innumerous hotels, homes and condominiums have come up to meet the rising demand for permanent or temporary shelter. It is viable to invest in real estate in the Venice of the Americas since there is ample employment in the nearby areas. Fort Lauderdale subdivisions include Lauderdale Shores, Seven Isles, Venice, Las Olas by the Sea. There are 1,814 single family homes, 3,659 townhouses and condos, and 1,673 rentals now available. Fort Lauderdale real estate is bouncing back and it will be flourishing again by 2008.

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