The Florida property market continues to present great opportunities for foreign buyers, as even the open market properties have been selling at heavy discounts.
During the last overseas property boom Florida was one of the top sellers. Orlando, Miami and other top locations had always been popular tourist destinations, especially with Brits, so once budget airlines made reaching America affordable and practical buying property there was a logical choice. The fact that the exchange rate meant Brits could get a property of twice the size and quality that they could back home was also undoubtedly a major enticer.
Prices understandably expanded rapidly, so much so that the core demographic — middle-class families — were soon priced out of the market. In fact, many of the Orlando and Florida homeowners who lost their homes during the crunch were British and foreign buyers.
Now, with Florida property selling for discounts of between 20% and 60%, there has never been a better time to buy property in Florida. Not only is it affordable again, but the discounts mean instant equity, high rental yields and the ability to make a rapid profit when the American recovery can be talked about in the past tense.
Usually overseas property buyers will have to assess whether a property will also be a good investment over the long term, in the case of discounted Florida properties, there is very little doubt about it; rather than being a question of if, it is more a question of when it will increase massively in value.
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