Financial instability and political uncertainty in their home countries have led many foreigners to regard the US property market as a safe haven for their investment. The amount invested in properties in the US between April last year and March this year is the second highest since 2009 with big interest from Chinese and British buyers.
A recent report from Freddie Mac finds that the Orlando property market is the fastest growing in the US and has a stable outlook for growth. This BRIC Group news article explores the reasons behind the surge in the market and explains how it’s part of a bigger picture of the improving property market in Florida generally.
Florida tourism continues to break its own records. After a hugely successful year in 2014, the state smashed all previous highs in 2015. Last year, Florida received 105 million tourists and tourism indicators across the board registered their best ever. Florida airports also posted record results. And the good news is that, as this latest BRIC Group article explains, more of the same is expected in 2016.
Figures for tourism in Florida continue to smash records all round. Visitors for the first quarter this year were the highest for a three-month period ever; Orlando set a historic high for metro areas in America; and revised statistics for last year, show that those on holiday in Florida were nearer the 100 million mark than originally calculated.
Holiday homes have become the preferred category of US property investment according to a recent survey. Vacation homes sales have increased to the point of overtaking investment purchases. Despite the change in tendency, both investor types are unanimous that now is the time to buy property in the US.
Florida tourism figures continue to reach historic highs – the Sunshine State received 97.3 million visitors in 2014. All figures for last year show increases and this avalanche of record numbers is excellent news for two key markets in Florida – property and employment.
Getting around Central Florida has recently got much easier with the new SunRail train service. When the second phase is completed, the railway will cover over 60 miles between Volusia County and Osceola County, creating thousands of new jobs and opening up further opportunities in the Florida property market.
Florida has just announced record figures for tourism in the spring period this year. July statistics have also posted excellent results and consequently, the Sunshine State looks well on track for its target of 100 million visitors this year.
The Sunshine State lived up to its name during the first quarter of this year and more than reaped the rewards in terms of tourism. Florida’s warm and sunny weather from January to March drew record numbers of visitors to the state, which is well on track to achieving its aim of attracting over 100 million tourists by December.
The news that Sarasota has no less than 24 construction projects in the pipeline confirms that the Florida housing market is once again surging ahead. It’s nearly ten years since Sarasota experienced construction potential on this scale and the news was warmly received by the city’s business community.