October 6, 2007
Winter break in the Florida sunshine
Many Brits who have tired of the cold British weather are following the lead of snowbirds to spend their winters at sunny Florida. The Sunshine State is continuously drawing tourists every year. An estimated 60 million vacationers each year enjoy Florida’s largest theme park and resort complex, 1,000 golf courses, and the hundreds of fabulous beaches. This phenomenon is being exploited by many property investors keen to let their homes out to accommodation-needy holidaymakers.
Real estate investors making rental yields are not the only ones profiting from their Floridian home. It has been reported that between the years 2000 and 2005, real estate prices in Florida increased by 108 per cent. This means that those who purchased a property over five years ago can expect great gains should they decide to sell their property. Even now, prices are still increasing.
But not everyone on the lookout for a Florida property is looking to earn from their investment. Many Canadians and Americans from the northern states have invested on Florida homes to migrate to during the winter. With an average annual temperature ranging between 20 to 23.9oC, the sunny state offers the perfect climate for those who want to escape the cold and depressing North American winters.
An estimated one million migrants flock to Florida for two or three months of fun in the sun before going back home to a warmer weather in the spring. It is said that the trend was started by Thomas Edison and Henry Ford, two of America’s renowned inventors of the 20th century. They built holiday homes in Fort Myers for winter hibernation. Today, an increasing number of UK vacationers are following the lead of these American snowbirds. “Leaving the foggy drizzle of the UK in November and landing over the azure waters of Florida with pelicans lined up as a guard of honour on the bridges is very therapeutic”, shares Andrew Bartlett of Andrew Bartlett Florida. “Leaving Florida at Easter, as it begins to get very hot and humid, and returning to the lush green fields of England, is considered by many to be an idyllic way of life.”
Posted on: Florida
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