Florida Prices Lowest in over a Decade

Florida has always been a popular tourist destination, not only for Europeans but also for many North Americans. Orlando in particular has been top of many people’s lists for a second home, and it’s currently an excellent time to buy as property prices here have hit a 12 year low. This means the average price of a home has now dipped to under $100,000 which makes it extremely attractive to foreign investors, and many people have now decided that it’s the right time to buy as the market may have bottomed out.

There are signs that the Florida property market is beginning to stabilise as the difference between the asking price and the actual sale has begun to narrow. It’s possible to get mortgages with a 30% deposit which has attracted investors to enter the market with the aim of snapping up a bargain, especially with low interest rates making a purchase even more appealing. Whereas before they would have been looking at a repossessed property that may have been in need of repairs, it’s now possible to buy a well maintained home for a similar price.

Orlando will always remain a popular family holiday destination and many tourists choose to rent good sized homes rather than go to hotels, especially if that home is reasonably near to all the major attractions. The opportunity for achieving good rental income is excellent, which is a further aided by Florida’s temperate year round climate. It is also a popular destination for many retired North Americans who choose to spend the winter in Florida and who will always be interested in good quality rentals.