Below is an article that recently featured in the UK’s Daily Telegraph, and discussing what Orlando offers the investor beyond its staggering tourism figures:
Orlando, known for Disney World, Universal, Sea World, outlet malls and that year-round Florida sunshine, has been attracting UK property buyers for many years.
Now the central Florida location is attracting buyers for new reasons which, according to one local property expert, is due to Orlando’s new position as a R&D and tech hub.
Originally from Dublin, Garrett Kenny of Feltrim Group dipped his toe in the Orlando property market by buying a holiday home in the mid-Nineties. He fell in love with the area, and 20 years later his one property purchase has morphed into a $600 million business encompassing development, property management and a local real estate chain.
“For me as an investor, buying property in Orlando was working out well, but I saw that overseas buyers were not getting great service on the ground, especially in property management. So I set up my own property-management business purely out of a sense of responsibility to people who I had introduced to the market.
“Then it grew from there, and we developed a niche as local experts who had been overseas buyers ourselves, so we knew what people buying from abroad needed, and then of course we got into development of our own resorts.”
According to Mr Kenny, the same reasons for buying in Orlando are still as true today as they were when he bought his first property, but he also notes a significant change in what Orlando is offering its buyers.
“Orlando is still one of the world’s prime destinations. It now attracts over 60 million visitors every year, which represents huge recent growth. But the area is also fast becoming a major hub for aerospace, life sciences, R&D, medical, digital tech and business services such as call centres.
“What we’re seeing here reminds me very much of how Dublin positioned itself over the last number of years as an innovation hub. There is no state income tax, and major international corporations are moving operations here.”
All good news for property buyers, and according to Mr Kenny, this helps give Orlando a unique position for property investors.
“It’s a fantastic location for a holiday home for all the obvious reasons,” he says. “It’s also a highly regulated market in terms of protecting buyers, and then it offers great growth prospects due to the dynamism of the local economy.
“It’s a lifestyle property investment that really works.”
Original article at: http://bit.ly/1SVXdR3