Building permits in Collier County increase - it has been a fairly slow but steady climb out of the aftermath of the recession, but the demand for new construction in Collier County has been growing. During the months of March through May the number of permits the county issued for new homes, apartments and storefronts was at its highest since 2013. This is a very good sign for Naples residents. Most of the permits, or about 90 percent of them, were issued for new single-family homes. Permits for new homes have jumped from an average of 138 issued each month in 2013, to 184 per month in 2014 and now to 230 per month so far this year.
If you have followed the real estate market in Naples for the past few years or have been looking for a newly built home you would know that it has gotten harder and harder to find a new home, as many were sold before construction was even finished. This overall increase in building permits shows that Naples is having more balanced growth that goes hand-in-hand with the economy in general and the employment rate.
Most of the new construction of commercial properties was at a stand-still during the recession and it’s common for stores and the like to not start construction, even if they have the permit, until the residential growth can support these new commercial entities. Permits for new offices, restaurants and storefronts have more than doubled from the four-per-month issued in 2013 to nine-per-month this year. To keep up with demand, the county is spending $1.2 million to hire more building planners, reviewers and inspectors. Those salaries are paid entirely by permit fees, so the county’s permitting staff typically rises and falls with demand.
For more information about New Construction in Naples please contact Gulf Coast International Properties at 239.434.2558 or visit our website at GCIP Naples.
Source: 2015 Journal Media Group