Orlando
USA
Beautiful weather, a vibrant economy and a rapidly growing population help to make Orlando one of the hottest locations for property investors.
There is always something going on in Orlando – a vibrant cultural and entertainment hub, and one of the most-visited cities in the world. From extravagant theme parks and sprawling shopping centres to golf courses, museums, restaurants and dance clubs, you’ll never be short of things to see, do and explore. Even so, the city’s entertainment scene continues to grow. At the beginning of 2023, Orlando unveiled 23 new and exciting experiences for its booming local population and year-round stream of international tourists.
Tourism
According to VISIT FLORIDA, 32.6 million domestic visitors visited Florida in the third quarter of 2022. This marked 18 consecutive months in which domestic visitor numbers surpassed pre-pandemic (2019) levels. Also in the third quarter, Florida saw 1.93 million overseas visitors, up 85.5% on 2021.
The state saw 104 million visitors in the first three quarters of 2022 – an increase of 15.3% year-on-year. Around 34% of visitors travelled to Florida via plane, and hotel occupancy grew by 6.2%.
Orlando has a well-earned reputation as the capital of global tourism. From Disney World to MGM and Universal Studios, this has long been a favourite destination for families. Almost everywhere you look, there’s a new attraction to be found.
For those who want a little extra adventure, the wild excitement of the Everglades is within easy reach, while the hot climate and world-class beaches make the entire region a rich and varied destination.
Economy
Aside from the thriving tourist trade, a favourable business tax environment means Orlando is home to several thriving businesses which supply a steady supply of well-paying jobs.
Downtown Orlando is the bustling heart of the city and the largest urban centre in Central Florida. Here, you’ll find the University of Central Florida, and the largest on-campus student population in the U.S.
The future looks bright as employment is predicted to grow much faster than the national average, with half a million new jobs being created. Such a vibrant economy is bringing in people with high incomes seeking out homes.
The home of Mickey Mouse is an excellent property investment opportunity. A combination of high returns, affordable prices and a vibrant local economy make this one of the hottest real estate areas in the world.
Our experts say
“Ideally located in the centre of the Sunshine State, Orlando is one of the most established tourist hotspots in the world. Its thriving entertainment industry and eclectic mix of businesses create a world of opportunity for investors.
There is a reliable demand for tourist accommodation, and with an ever-growing population of workers and families, it is not shy of long-term tenants either. Many retirees also settle on Florida as the place to be, where they can enjoy a warm climate, a low cost of living, and an endless stream of opportunities for leisure and entertainment.
Florida is leading the way in terms of house price and rental growth – making the city of Orlando one of the most attractive investment locations in the country.”
How to get there
By road
Choosing how to drive to Orlando is often more about choosing a scenic or direct route. The city sits in the centre of two major toll roads, Interstate 4 and the Florida Turnpike. Drive time from New York is around 20hrs.
By train
Both the Silver Star and Silver Meteor train lines make regular journeys to Orlando from New York with a travel distance of around 1,100 miles and a total trip length of around 28 to 32 hours.
By air
Orlando International Airport is located 6 miles southeast of Downtown Orlando. It handles 39 airlines and just under 50 million passengers every year.
By boat
A popular cruise destination, Florida is often combined with travelling to areas such as the Caribbean, West Indies, or Mexico. Port Canaveral is just 45 minutes’ drive from Downtown Orlando, and one of the largest cruise terminals in the U.S.
Weather
One of the main reasons Orlando is so popular with tourists is its ideal climate. It enjoys mild winters and hot, sunny summers. It’s not uncommon to experience a thunderstorm in Orlando, although they don’t tend to last long.
Spring/Summer
Summers are long and tend to last from May to October. Over the summer months, temperatures are uniform from north to south, especially in the daytime, when they range between 31°C and 33°C (88 °F and 91 °F). Thunderstorms are common and there are increased chances of tropical storms and hurricanes, particularly from August to October.
Autumn/Winter
Really more of a “dry season” than a typical winter, you can still expect temperatures of around 15.5°C (60°F), even in January. Winter can be a great time in Orlando as temperatures are comfortably warm, days still enjoy around 7hrs of sunshine, and it tends to be drier than over the summer months.
Why invest
As an incredibly popular place to live and visit, Orlando makes for a prime investment location.
In addition to a strong tourism industry and robust economy, the city boasts one of the hottest real estate markets in not only Florida but the whole of the U.S.
While the population of Florida increased by 14.6% from 2010 to 2020, the number of housing units only grew by 9.7% according to the US Census Bureau – leading to high demand for properties across the state.
Experts are predicting falls in house prices across the U.S. in 2023. However, they also agree that Florida is completely bucking the trend seen in other areas. House prices are expected to continue growing throughout 2023 due to low inventory and high demand for properties.
Real estate values in Orlando increased by 18.3% in the year to December 2022, according to Zillow. The average house price sits at $385,910, and 21.5% of properties sell for more than the list price.
Florida rental markets are also emerging as the hottest in the US, and Orlando is leading the way.
Florida metros saw the highest price growth in single-family rents in September. With an increase of 18.3% year-on-year, Orlando saw the second-highest growth in single-family rental prices out of all 20 metro areas. The city came just shy of Miami, which saw a 20.1% price increase.
These two Floridian cities not only topped the table but also registered a significantly higher growth rate than other metro areas. (Boston had the third-highest rent price increase at 10.6%, which is almost half that of both Miami and Orlando.)
Unlike Miami, Orlando beat last year’s price growth by more than 5%. This makes rental properties in Orlando an attractive venture for those interested in Florida’s buoyant rental market.
Our properties in Orlando
