November 1, 2007
Property in Florida looking to a bright future?
The past year has seen the property market in Florida take a bit of a slow turn as much of this is due to an oversupply in housing.
Nonetheless, tourism is Florida’s number one industry with visitors to the state showing no sign of abating. Property in Florida could still be considered a sensible investment,if not necessarily in the short-term.
Kim Williams from Special Dreams property management says that there is currently a lot speculation about the longevity of the housing market as a good investment. Williams adds that there are so many homes being built. She thinks that there is still a good opportunity for investment if one is in it for the long haul.
The great amount of Florida property is good news for those looking to purchase as it is really a buyer’s market.
Andrew Bartlett, an independent property consultant, sayst that British investors can easily pick up a Florida bargain. This is especially the ase due to the strength of the pound against the dollar. However, Bartlett warns that even given those conditions, not every Brit ends up with a bargain. All too often British buyers pay way over the odds for the wrong property.
Bartlett advises to look around, compare prices, not to be rushed into anything, and to maximize changes of getting the best property in Florida possible based on one’s budget.
One can pick up a fully furnished, six-bedroom property in a gated resort in Orlando (one of the best regions for property in Florida with year-round rental income) for $509,500 (approximately 260,000 English pounds) through MRI Overseas Property. The price includes access to a fitness center, a pool, a gym, and a games room.
An Orlando condominium resort of 288 two- and three-bedroom apartments is being completed. The Tuscana development provides property owners with access to a $2 million clubhouse, complete with a 35-seat private viewing cinema, a fitness center, a Tikki bar, a snackbar, and a convenience store. There are 25 units left for sale priced from $360,000 for a two-bedroom and $390,000 for a three-bedroom property, inclusive of a full furniture package.
Posted on: Florida
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