Floridian property market

It is estimated that 1,000 people move to Florida every day, thus it is unsurprising that Florida’s residential growth continues to increase both in sheer volume of construction and in appreciation. Long hailed for explosive suburban growth, new lofts, apartments and condos are going up in downtown Jacksonville, Miami, Fort Lauderdale, Orlando, Tampa, St. Petersburg, Sarasota and elsewhere. Favoured holiday home areas include the central area around Orlando and Disney; the south-eastern coast from Palm Beach to the Florida Keys; and gulf resorts on the south-western coast, like Naples and Venice.

Pros and cons

Florida nicknamed the ‘Sunshine State’ because the sun really does shine there for most of the year. Temperatures range from an average of 25 degrees centigrade in December to February, to 28 degrees in March to May, rising to 31 degrees in June to August; gradually cooling down again by November. This along with a plethora of spacious, affordable luxury homes and tourist attractions like Disney World, the Kennedy Space Centre and the Everglades National Park makes Florida a surefire investment proposition. When the exchange rate is favourable the argument for Florida becomes even stronger. But hurricanes are a big issue in Florida, and wind-proofing property with everything from whole-home standby generators to super-strong windows could set potential investors back by $75,000. Distance may also put some investors off - flights from London to Orlando, Miami and Tampa take eight, nine and ten hours respectively. However, there are plenty of holiday home management firms out there to help keep things running smoothly.
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