Beautiful weather, a vibrant economy and a rapidly growing population help to make Orlando one of the hottest locations for property investors.
The home of Mickey Mouse is also 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. Here are a few reasons why.
1. Mickey and Friends
Orlando has a well-earned reputation as being 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.
All that tourism brings in people and creates demand for all sorts of different properties, from regular residential places to holiday lets and much more.
2. A booming economy
Even with the looming shadow of the pandemic, the local economy continues to thrive. 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.
The future looks bright with employment predicted to grow much faster than the national average with half a million new jobs being created.
Such a vibrant economy is bringing in new people, with high incomes seeking out homes. Selling has never been an issue in Orlando, and that seems unlikely to change in the near future.
3. A popular place
Partly because of the economy and also the thriving tourism trade, Orlando is an incredibly popular place. Around 900 people move to Orlando every day and, as the population continues to grow, so does the demand for property.
According to the Orlando Business Journal, between 2016 and 2019, Orlando achieved an 11% growth rate in population sparking furious demand for property of all kinds.
4. Good return
All that demand means property investment in Orlando offers outstanding returns. The median sales price in Orlando for all homes grew by 9.2 compared to the same time last year and a 1.9% increase on June this year. The continually rising price suggests the real estate market is resilient to the troubles brought by our old friend COVID 19.
This return covers a wide diversity of different properties from family houses to flats, resorts and holiday lets. Whatever type of investment you’re looking for, the chances are you’ll find it here.
5. Top rental demand
Around 65% of Orlando’s large and growing population are renters, according to Neighbourhoodscout, which is one reason why the city has been labelled the best rental market in the States. Rental rates have been surging, which means rental yields continue to climb. Gross rental yields in Orlando average more than 10%, significantly higher than the national average.
Despite all these factors, Orlando remains a relatively affordable place to live with house prices and living costs being slightly below the national average. This, combined with booming demand, means the city offers an attractive mix of easy entry and easy exit. Buying and selling is relatively easy, which means that, whatever type of property investment you’re looking for, your prospects in Orlando couldn’t be much better.