Investment property in Florida – Florida property hotspots

Florida is the leisure capital of the US, attracting millions of visitors each year and around 1000 migrants every day. As a result, Florida real estate has enjoyed unprecedented levels of growth over the past few years and investors have been quick to capitalise on Florida property. There are huge economic and environmental disparities within Florida so buyers of investment property in Florida need to concentrate on the best performing regions.

Florida real estate hotspot - Orlando

Most British buyers of investment property in Florida head for the central Florida resort of Orlando. With massive theme parks and year-round sunshine offering excellent rental potential, the attractions of buying a Florida property in Orlando are obvious.

The city and its hinterland are also some of the more affordable areas in the Florida real estate market. Despite annual price rises of 18%, property in Orlando remains cheaper than elsewhere in Florida and the national average. Orlando is one of the fastest growing cities in the US but it is still possible to buy a four-bedroom house for around $280,000.

Florida real estate hotspot – the north-east

Florida property prices in the north east are lower than most of the state but are rising fast. The area is incredibly popular with US retirees who have bought Florida property.

The median cost of a three-bedroom house in Jacksonville is around $119,000 whilst a condo in Daytona Beach facing the ocean can be bought for under $200,000. Daytona Beach is growing in popularity with buyers of investment property in Florida with capital growth of 30% in the last couple of years.

Florida real estate hotspot – Gulf Coast

The Gulf Coast is the second most popular market for Florida property after Orlando but there are higher costs due to the proximity to the beach. Naples is one of the most expensive areas to buy Florida property in and experienced price rises of 42% in 2005.

Nearby Sarasota is a more reasonably priced place to buy investment property in Florida but prices are rising fast with price rises of almost 14% in just three months during 2005.

Florida real estate hotspot - Miami

A New York-style clean-up has reinvigorated the city and it is now one of the most popular places for overseas purchasers to buy investment property in Florida. Between 20% and 50% of Florida real estate transactions in the Miami area are to European buyers. A good-sized Florida property is available for under $200,000 and there is currently a steady growth rate of 5% to 10% per year.