Invest in Orlando, Florida
Orlando is a property investment like no other. It offers a truly unique combination of; low prices, actual growth and potential growth, a rapidly developing local economy, diversified industries, great infrastructure, a stable legal environment and of course, for some buyers, the possibility to use their property for vacations, while renting the rest of the year.
Invest in Florida
Like most places property Orlando and Central Florida took a hit in 2008; prices dropped and new development stalled. However in 2015, this seems to be well and truly behind us, and the market has been gaining steam.
What’s Happening in Orlando?
Orlando is back a vengeance. Tourism is now growing again rapidly. In 2009, the area welcomed 46 million tourists. By 2013 that number had grown to 59 million reflecting a 28% increase in just five years in the Orlando area alone. In 2014 Orlando surpassed New York as the most visited metropolitan area in the United Sates, reinforcing Greater Orlando area one of the world’s most popular vacation destinations. Hotel occupancy rates in Orlando are averaging at 77% for 2014 and are at their highest since their peak in 2005.
“Orlando alone is now attracting over 60 million tourists per year!”
Orlando is well known for all its theme parks; and they do of course draw visitors and create lots of employment, but that’s not the full story. Orlando is fast becoming a hub for aerospace, life sciences & medical, advanced technologies, digital media and outsourced business services. President Bill Clinton often talks about Orlando as a ‘Center of Excellence’, a place where government and the private sector have successfully combined to create a modern, growing, innovative economy. New job growth is at approximately 3.6% per annum currently
This is a great time to get in. Prices are not yet 50% of the boom values, yet the local economys growing strongly in all areas. As an investor you will need to decide why you’re investing; is it for income, capital appreciation or both? Which is most important for you? Or do you wish to invest in a property and use it as a vacation home part of the year? Central Florida is in the position of being able to offer combinations of all of the above. The Davenport and Kissimmee areas will provide you with great lifestyle investments properties that you can chose to vacation in, and then let out. The city of Orlando can give you the opportunity to invest in lower priced properties with high yields. Windermere may cost more, and yield 5-6%, but it is highly sought after area for local families, providing a ready exit strategy. See our area guides for more information
“Last year saw property prices appreciate by 15%”
Can I still find Foreclosures? What’s a Short Sale?
Foreclosures are still around. Not as plentiful as in recent years but there are still many options out there with, as mentioned above, properties still not reaching 50% of what they did during the boom. Its still possible to find great bargains with the potential for growth and profit. And, with the right partner you can still find properties at auctions where you can ‘buy-renovate-sell’ at a margin.
Many ask about ‘short sales’, as the prices seem very low for the type of property in question. A Short Sale is when a bank, instead of going through the costly process of repossession, allows the owner instead to sell the property for less than the amount owed to them under the mortgage and then swallows the loss, or at least a large part of it. While there are some deals to be had, buying a short sale property can be complicated and unpredictable at times. At Feltrim we have been assisting international investors since the 90’s. We know the terrain, and often finding a truly good deal often depends on the partner you choose. There are some great deals out there and in attractive areas. Use our property search to find a deal that suits you!
A Proven Lifestyle Investment
Central Florida is also an attractive lifestyle investment location. This is a lifestyle investment that works, where you can find some great returns. Its not an up and coming tourist resort. Its established, but its growing rapidly. The area has consistently been one of the worlds premiere travel destinations and has experienced significant growth in tourism in the last five years. In 2009, the area welcomed 46 million tourists. By 2013 that number had grown to 59 million reflecting a 28% increase in just five years in the Orlando area alone.
This year Orlando surpassed New York as the most visited metropolitan area in the United Sates, reinforcing the Greater Orlando area as one of the world’s most popular vacation destinations. Occupancy rates in Orlando are averaging at 77% for 2014 and are at their highest since their peak in 2005.
The State of Florida is pumping huge sums of money to promote the state’s thriving tourism industry increasing the budget of Visit Florida by $10.5 million to $74 million for 2015 with the goal of attracting 100 million visitors to Florida.