When it comes to investing in real estate in the USA, Florida property is always top of the list. Indeed, the state accounts for two-thirds of all enquiries on overseas property portal TheMoveChannel.com, according to a recent report, far eclipsing popular destinations such as New York and Las Vegas.
So what makes the Sunshine State so popular for overseas buyers?
A lot of it stems from Florida’s flourishing tourism industry, which is the biggest driver of the area’s economy. From the warm climate and beautiful beaches to the near-constant sunshine (over 3,000 hours per year), Florida is an ideal holiday destination, more than earning its moniker. People from the UK, Europe even Brazil and Canada rush to sunbathe on vacation – and, if possible, buy a holiday home to boot.
But it’s not just the weather: Florida’s range of attractions makes it an appealing vacation hotspot. Indeed, it’s no coincidence that Florida has become synonymous with Disney over the years, as Walt Disney World has come to define the area’s housing market.
Indeed, the proximity to Disney – and other theme parks and attractions – makes real estate in Davenport and similar neighbourhoods a practical option for holidaymakers who don’t want far to travel from their base.
Even better, then, for investors, who can use that demand to generate strong rental income. This potential has seen interest in Florida property rocket upwards, cornering both the lifestyle and investment sectors. Commercial property opportunities, such as hotel investments, are also a reliable way to capitalise upon strong occupancy rates.
As tourists, investors and tenants all encourage each other’s activity in a cycle, Florida’s market finds that magical formula that continues to push itself onwards and upwards: even during recession, prices are guaranteed to rise, guaranteeing capital returns in the long-term.
For more information on investing in the Sunshine State, visit http://www.floridaproperty.org.uk .