Top 10 reasons to invest in Florida
With billionaire real estate investor Warren Buffett proclaiming recently that "within a year or so, residential housing problems [in the US] should largely be behind us", investor confidence in the US and more specifically the perennially popular Floridian real estate market has returned.
Despite the outlook for the US economy being more positive in 2010, recovery is not expected overnight and there still remains substantial Below Market Value housing stock available. In the Sunshine State of Florida in particular up to 72% discounts are available from most recent selling prices.
Steven Worboys, MD of international real estate experts, Experience International comments, "From our extensive research we believe that Below Market Value property in Florida remains one of the most attractive investment opportunities available today. Working in partnership with Florida's most trusted and experienced real estate experts we have sourced a selection of premium properties in highly sought after locations at up to 72% below recent selling prices."
Top 10 reasons to invest in Florida
For those considering purchasing property in the US, here are 10 top reasons to invest in Florida to ensure that you are, in the words of Warren Buffett, the "buyer who benefits":
1. Robust economy - Florida's accounts for 5% of the nation's total economic output and industry diversity has ensured stability over the last 12 months
2. Key location for international trade - 40% of all US exports to Latin and South America pass through Florida with Miami airport handling more international cargo than any other airport in the country
3. Business-friendly taxes - Florida remains among the top 10 states in the nation when it comes to having "business friendly" taxes (Jacksonville Observer 2009) in turn boosting the local economy
4. A growing population - the 4th most populous state in the US is still experiencing growth with University of Florida's Bureau of Economic & Business Research forecasting an increase from the current 18.75 million people to about 24,971,000 in 2035.
5. An affluent population - Not only increasing in numbers but also in wealth, the per capital person income of Floridians is $39,267 (2008) showing continued year-on-year growth.
6. Low property prices - Median real estate prices for Florida average 25% less than the national average, $138,200 vs $184,700 respectively (Zillow Jan 2010)
7. Abundance of BMV housing stock - More than 500,000 homes received foreclosure notices in 2009 bringing to the market large numbers of high quality stock at up to 70% Below Market Value prices.
8. World class tourism destination - Florida attracted over 80 million visitors in 2008 and with attractions such as the new Harry Potter theme park opening in Orlando, expectations for sustained levels of tourism are high
9. Highly developed infrastructure - first class interstates, highways, train and air links ensures that accessibility to and within Florida is quick and easy
10. The Sunshine State - with a year round sub tropical climate, Florida's 350 days of sunshine per year are a real draw not only to overseas visitors but US nationals alike
To view the latest Below Market Value opportunities in Florida, visit experience-international.co.uk.
