Known as ‘The Sunshine State’ Florida has always been extremely popular with holidaymakers from all corners of the Globe. Famed as a holiday destination for all the family, Florida offers investors the perfect combination of low entry prices combined with a strong rental demand.
Orlando is considered a real hot spot for property investors, as it offers the ideal blend of constant demand for vacation rentals, and a growing business centre and increased employment which offers ever increasing demand for longer term rentals.
Orlando is one of the most visited cities in the USA with 97 million visitors flocking to the city last year. Home to Walt Disney World, Universal Studios and a raft of the world’s leading theme parks, in fact, Orlando hosts 5 of the top 10 most visited theme parks around the globe, making it one of the most popular tourist destination in the world.
The traditional rental market has also shown strong growth over the past few years, as the central Orlando business district has grown considerably. The business district has over 19 skyscrapers, and employment is increasing year on year. Orlando is also a growing tech hub, with several tech companies relocating and expanding into the area.
The Tampa Bay is also an area of interest with a population growth of 4.5% each year over the past 3 years. Tampa itself has benefited from job growth of around 3% in the last 12 months alone.
St Petersburg is home to a diverse range of industries and has a growing arts scene and has been ranked by Forbes as a top city to invest in property. With a diverse population, St Petersburg has a robust economy which is less reliant on tourism trade than other parts of Florida.
Florida is also home to over 1100 golf courses and hosts number of golf tournaments every year. The warm climate means that golfers are usually able to enjoy their pastime 365 days a year, and it’s no wonder that Florida is the number one ‘Golf State’.
Golf communities often offer residents unlimited access to the course, and can be particularly attractive to those who are looking to retire to their investment property.
Community resorts in Florida offer much more than just an apartment. On site facilities are likely to include pools, restaurants, bars and other amenities that make the resorts a great proposition for vacation rentals. For example, Benoit Properties offers homes on their Bayside community in St Petersberg where amenities include three resort pools, tennis, basketball and volleyball courts, and membership to the luxury private Yacht Club.
Prices across Florida are extremely attractive to investors. In general the state took time to recover from the economic crash is 2008 with prices now starting to recover, in fact, across Florida increased an average of 8.5% across 2017. However the market is still softened, and offers investors great scope to purchase quality investment properties at favourable prices.
The strong demand for rental units across Florida, both for vacation rentals and long term lets ensures that a steady rental income can be expected. Our sister company Benoit Management also manage everything for investors looking for a low hassle, high returning property investment managed from afar.
With experts across the globe indicating that now is the time to invest in Florida (particularly South Florida), there has never been a better opportunity to expand your portfolio into the Sunshine State.
Get in touch with us today to learn more about our current properties for sale and to add yourself to our investor shortlist so that you are first to receive new deals as and when they land.