Orlando is officially the number one tourist destination in the United States. It's no surprise that the city's economy is projected to grow strongly over the next few years.
With a variety of entertainment options, great hospitality and world-famous parks, tourism in Orlando is second to none and is one of the main contributors to local economic growth.
Due to a highly favorable business tax environment, the city is home to a number of successful companies and large-scale ventures that bring job opportunities making buying a home in Orlando an attractive deal.
As a result of this migration, between the years 2010-2018, the population of Orlando grew by more than 19.6%.
Benefiting from significant investment and infrastructure development, Orlando is undoubtedly one of the most urbanized cities in the USA.
A thriving destination that attracts visitors, vacationers and investors from all over the world, Orlando is a city that offers enormous potential, especially for those seeking gains in the real estate market or in their quality of life.
Big changes in Orlando by 2030
Have you ever thought about what your city will be like in 2030? Will it be better or in decline? Will the economy be competitive or left behind?
What about parks, highways, transportation systems and schools? Orlando seeks to innovate and follow current technological and social changes.
The research team at the Foundation for Orlando's Future (Orlando Economic Partnership) developed a report outlining the main economic, social and technological changes that took place in the region during that decade.
If you are interested in reading the full report, you can access by clicking here. Below is a brief summary of some of the highlights of the next decade:
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TRON Rollercoaster, 50 years of Disney World and 100 years of Mickey
The roller coaster TRON Lightcycle Power Run is coming to Tomorrowland in Magic Kingdom.
The attraction TRON of Magic Kingdomwhich is due to open in time for Walt Disney World's 50th anniversary.
In 2021, we will be celebrating the 50th anniversary of the Magic Kingdomand Disney will be sure to celebrate this milestone.
From new attractions, such as the new rides that just opened in 2020, to an entire theme park for the party - WDW is not going to hold back on anything when it comes to celebrations in 2021.
This year's celebrations will also serve as a warm-up for Mickey's centenary countdown. The world's most beloved mouse will turn 100 in 2028.
The event promises to attract many new tourists to the celebrations that will take place on the Magic Kingdom.
Train connecting Orlando and Miami scheduled to open in 2022
Traveling at speeds of up to 125 mph, the train will be able to transport passengers from Orlando International Airport to Miami Central Station in the heart of Miami.
Orlando International Airport is also undergoing changes. The work to expand the airport will ensure greater support for the growing flow of tourists in this decade.
Epic UniverseUniversal's fourth theme park
Planned to be built next to the Orange County Convention Center, it is expected to be Universal's largest theme park.
With four immersive areas, a large central hub and an integrated hotel, the Epic Universe will be a revolutionary theme park.
Officially announced in August 2019, the new park is scheduled to open by 2024.
2026 FIFA World Cup - Orlando
Orlando is among the 17 US cities still in the running to host games in the 2026 FIFA World Cup, which will be jointly hosted in North America by the United States, Canada and Mexico.
This will mark the first time in FIFA's history that three countries will host the World Cup.
The 2026 FIFA World Cup will be the biggest in history, featuring 48 teams, 80 matches and is projected to exceed US$ 5 billion in economic impact.
Why many Brazilians are moving to Orlando
The difficult social and political situation in Brazil, and its consequences - unemployment, violence and so many other negative circumstances - have led to an increase in the number of Brazilians thinking about living abroad.
Many Brazilians are looking for better opportunities and know that they can find a better quality of life in the USA. Buying a house in Orlando has become the goal of many.
Home to Disney World, Sea World and Universal Studios, there's no doubt why people are fascinated by this city; Orlando is one of the most popular tourist destinations in the world.
However, most people don't realize that Orlando is also a great place to live.
With one of the largest universities in the country, a diverse population, lots of culture, a focus on the arts and a thriving sports sector, Orlando is certainly a great candidate for a permanent move.
Let's take a look at some of the elements that make the city so prosperous and inviting to Brazilians. Buying a house in Orlando can be a great deal if you're looking for the following features.
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Weather
Orlando has incredible weather all year round. There are no long periods of rain or snowstorms.
The climate is actually one of the main reasons why people love living in Orlando.
People can enjoy the outdoors, don't have to worry about excessive heat and can live a healthy and active life without any worries.
Outdoor activities
Orlando has countless options for outdoor activities, mainly due to its excellent climate.
The Atlantic coast offers white sandy beaches with crystal blue waters.
There are also beautiful squares/parks, various recreational facilities and sports complexes.
The city is also home to some of the best golf parks in the state, as well as numerous soccer matches throughout the year.
Job opportunities
As Orlando has a thriving tourist industry, there are many part-time and full-time jobs in the city.
As the city is always busy, most hotels and restaurants are always looking for staff to cover shifts, so it's easy to find jobs in the hotel sector and in restaurants of fast food.
Investing
If you're thinking of investing, Orlando is a great option. There are countless opportunities to open your own business and penetrate untapped market segments.
O real estate investment market The city's entertainment scene is bustling and generates great long-term business opportunities.
Fun
Orlando is home to the world-famous Disney World Resort, Universal Studios theme park, Busch Gardens and Epcot Center.
There are hundreds of restaurants and shopping centers throughout the city, which will ensure that you never get bored.
Diversity
Orlando has a very racially diverse population.
You can get a glimpse of different cultures and traditions from all over the world because many people from various parts of the globe are living in the city.
The diversity of the place has also resulted in people making an extra effort to blend in and build a community that is cohesive and unified.
Food
One advantage of its diversity is that you have access to a wide variety of different types of cuisine.
You can find cafés, restaurants, bistros, snack bars and top restaurants serving dishes from all over the world.
Whether you're in the mood for Italian or Indian food, or simply want some homemade rice and beans, you can find it all in Orlando.
Infrastructure
Benefiting from significant investment and infrastructure development, Orlando is undoubtedly one of the most urbanized cities in the United States.
So much so that it is officially among the Top 10 American cities in terms of infrastructureaccording to the Foreign Direct Investment Magazine (fDi).
The city has introduced many social programs and has worked hard to improve public services. Commuting is easy and traffic is much less compared to other US cities.
Buying a house in Orlando
After these details, are you interested in investing in the Orlando real estate market?
Investing in real estate can be a complicated task, especially if you don't know where or even how to start.
Whether you're an experienced real estate investor who already knows Orlando or a first-time buyer looking for a vacation home, having the support of a real estate team is certainly indispensable.
Below, we'll discuss some important details for you to keep in mind when buying a house in Orlando.
Why buy a house in Orlando?
Buying a house in Orlando allows for positive cash flow opportunities through renting and the long-term appreciation of the property.
Many factors are actively driving up prices in the region. Population growth, as we saw at the beginning of the article, brings many new tenants to Florida, flooding the market with potential renters.
According to Orlando Business Journal, the number of home renters in Florida grew from 1.8 million to 2.6 million between 2000 and 2017 and continues to grow.
Florida is exploding with new build-to-rent opportunities, offering a window of opportunity for investors in the real estate market or for those wishing to purchase a vacation home.
A Listing Real Estate Managementa local property management company in Orlando, projects higher rental rates and significant increases in property values in the city over the next decade.
According to Orlando WeeklyThe number one place in Florida to buy a rental property is Orlando, driven by the area's growth, population growth and great business opportunities.
Have a rental strategy
Buying a house in Orlando should follow the same principles as buying property elsewhere in the world.
You might think that any real estate investment in Orlando is a smart move, but that's not the case. There are many options available, some of which are excellent, others not so much.
When buying a house in Orlando for the first time, you should have clear objectives and a well-structured strategy.
The first question to ask is: are you looking for cash flow, appreciation or a bit of both?
There are areas in the Orlando real estate market that allow first-time buyers to reap a positive monthly cash flow through rent.
Other areas, on the other hand, allow for a stable investment, aimed at increasing the value of the property for sale in the future.
According to Orlando SentinelSouth Orlando, Lake County, South Orange, St. Cloud, Osceola are among the best areas to buy affordable real estate.
While other regions are favorable to stable and secure investments, such as Winter Park, Windermere, Oviedo, Lake Mary, Baldwin Park, College Park and Winter Garden.
These areas have higher real estate prices, but generate a much higher return in terms of rental values and property appreciation.
Although this is an excellent opportunity, as a buyer you shouldn't rush into anything. Buying a house in Orlando should be planned, and preferably done with the assistance of a specialist who knows the area.
Benefits of making a real estate investment in Orlando
Real estate investment in Orlando is on the rise and getting stronger every day. Buying a house in Orlando is becoming an increasingly popular option among Brazilians.
Investments seeking long-term appreciation have many benefits and you, as the owner, can take advantage of this. What's more, if you want a vacation home to enjoy the summer, Florida is certainly an excellent option.
Here are some of the advantages of owning a home in Orlando.
Vacation home
In many tourist locations around the world, holiday homes are presented as investments.
Some markets are emerging, while others are in decline. In Orlando, an investment in a vacation home works better than many other areas.
Why? The city is well established, well regulated and is benefiting from a significant growth in the number of tourists, as mentioned above.
However, despite the significant growth in visitor numbers, hotel occupancy rates have fallen in recent years.
The main reason for this is the holiday homes, as many of the visitors are domestic travelers and many come on a family trip.
The best vacation homes are new, well-planned, offer extra space and are often better than a first-class hotel.
Innovation center
Orlando has successfully diversified its economy to become one of America's leading centers for innovation, new industries and technology.
The area is an aerospace center and is home to an important facility for Lockheed Martin.
Orlando is the main simulation center and a leader in the development of video games and virtual reality.
Commercial services are also moving to Orlando, benefiting from Florida's tax regime.
Large distribution centers for companies like FedEx, Amazon, WalMart and Best Buy are located in areas like Haines City.
Retirement plan
Traditional retirement investments can often be unprofitable.
When you buy property abroad, you are obliged or forced to keep an asset for the long term.
Regardless, you'll get higher returns and consistent cash flow.
Orlando is outpacing all other parts of Florida in terms of real estate sales activity and capital appreciation. Growth in the Orlando area in 2019 reached 15%With rents also showing significant growth.
The growth is naturally due to Orlando taking its place as a center for new industries, as mentioned, but also because more people are needed for the tourism and hospitality sector.
The public school system is also one of the best in the state of Florida, making the decision to move to Orlando a little easier for parents.
Attractive, safe and accessible
In addition to the excellent variety of attractions and resorts, another factor that makes buying a home in Orlando attractive is the price.
Compared to other big cities in the United States, Orlando is surprisingly affordable.
According to the National Association of Realtors, the city is cheaper than San Francisco, Los Angeles, New York, Washington and Miami when it comes to real estate investment.
Not only is it cheaper to buy a property, but it's also easier to sell. Since July 2018, the overall sales of homes increased 7%.
Other factors that make Orlando an attractive place to be are the cost of living.
In addition to offering relatively low median home prices, the cost of living (i.e. housing, food, transportation) is actually 4% below the national average.
This, along with the fact that Orlando is also ranked as the number one city in the USA for job growth, makes this region of Florida incredibly inviting and Orlando Real Estate Investment an excellent decision.
Any doubts?
Now that you know a little more about Orlando's best decade. We can help you understand the behavior of the real estate market and consider investing in vacation homes in Orlando. To make the most of all the tips we've brought you and go even deeper, you can talk directly to our relationship agents. They are always happy to talk to you to answer any questions you may have about investing in Florida.
In this article we cover Disney's secrets for keeping mosquitoes away from the parks in Orlando. If you want to read more content like what we've covered in this article, just stay tuned here on our blog.
Did you like the article? Keep an eye on our blog! Looking to live or invest in real estate in Florida? Check out the list of houses for sale in Florida that we've selected for you!
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