This article explores the potential investment opportunities available to UK-based investors within the Florida real estate market. It is written by a representative of Harworth Estates as a guest post by a Florida real estate expert.
For many years, Florida has been a key part of the UK tourism industry, in terms of getting many Britons onto the aeroplane and visiting that part of the United States. Alongside this, the state has been one of the primary destinations for UK residents looking to emigrate to the US, as many get a taste for the lifestyle on offer in that part of the world.
A number of years ago, there were large swathes of investment into Florida, particularly the Orlando area, from UK based investors. Currently, real estate prices in Florida are at a low, meaning that there is now an excellent opportunity for further investment in the area. Given the close association Florida has with the UK, there are definitely profitable investments to be made by those looking to either begin or expand their property portfolio.
What To Buy
What is unique about the current situation in Florida is that the real estate prices have dropped in many areas. From an investment perspective, a real focus on residential properties and developments is much likely to deliver equitable returns over a longer-term period. In this part of the world, the beauty is that a residential property can be bought simply to sell on, or to be used as a holiday villa for use by tourists. For the UK investor, this provides a simple vehicle for developing a consistent revenue stream from their investment into Florida’s residential property market. In an environment where more and more individuals are seeking alternatives to traditional package holidays offered by tourism companies, being able to offer a trustworthy, domestic business proposition with regards to a holiday across the Atlantic will be extremely attractive to many holidaymakers.
While the residential market is the biggest opportunity currently in Florida, there is also potential in commercial property across the state, so wherever your business and investment interests lie, there is likely to be a gap in the market on which you can capitalise.
Marketing Your Property
Let’s face it, this is Florida we’re talking about, so anyone in the UK looking to holiday there knows what it is about. What you need to consider is how you intend to market your property, whether for sale or for rent as a tourist option. The biggest factor influencing this will be the location, so it is imperative you know where you want to buy. Do your research and ask yourself honestly if it works. The property in Cape Coral may look great, but if your target market want to visit Orlando, is the three hour journey likely to encourage them to do business with you?
I think we both know the answer to that!!
This article is a guest post from Harworth Estates. Harworth Estates are one of the largest landowners in the UK with access to over 30,000 acres of land. They provide residential and commercial properties for sale, industrial units, offices and development land.