Orlando is officially the number one tourist destination in the United States. It is no surprise that the city's economy is projected to grow strongly in the coming years.
With a variety of entertainment options, great hospitality, and world-famous parks, tourism in Orlando is second to none and is a major contributor 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 developments that bring job opportunities making buying a home in Orlando an attractive business.
It is estimated that 900 people move to the state of Florida every day. As the population continues to grow, so does the demand for real estate in the state.
As a consequence 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 real estate or in their quality of life.
Big Changes in Orlando by 2030
Have you ever wondered what your city will look like in 2030? Will it be better off or in decline? Will the economy be competitive or will it lag behind?
What about the parks, highways, transportation system, and schools? Orlando seeks to innovate and follow current technological and social disruptions.
The research team at the Foundation for Orlando's Future (Orlando Economic Partnership) developed a report pointing out the main economic, social, and technological changes that occurred in the region during this decade.
If you are interested in reading the full report, you can access by clicking here. The following is a brief summary of some of the highlights of the next decade:
TRON Rollercoaster, 50 Years of Disney World and 100 Years of Mickey
The roller coaster TRON Lightcycle Power Run is coming to Tomorrowland on Magic Kingdom.
The attraction TRON from Magic Kingdomwhich should debut in time for Walt Disney World's 50th anniversary.
In 2021, we will be celebrating the 50th anniversary of Magic Kingdom; and Disney will not fail to celebrate this historic milestone.
From new attractions, such as the newly opened toys in 2020, to an entire theme park for the party-WDW will hold back on nothing in the celebrations in 2021.
This year's celebrations will also serve as a warm-up for Mickey's 100th birthday countdown. The world's most beloved mouse will turn 100 years old in 2028.
The event promises to attract many new tourists to the celebrations that will take place in Magic Kingdom.
In Feb/2021 Disney announced not only the maintenance of the 50th anniversary party but also the duration of 18 months for the celebrations.
Train connecting Orlando and Miami scheduled to open in 2022
Traveling at speeds of up to 125 mph, the train will be able to carry passengers from Orlando International Airport to Miami Central Station in the heart of Miami.
Orlando International Airport is also undergoing changes. The expansion work at 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 near 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.
FIFA World Cup 2026 - Orlando
Orlando is among 17 U.S. cities still in the running to host the games of 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 largest 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, make the number of Brazilians thinking about living outside the country grow.
Many Brazilians are looking for better opportunities and know that they can find a better quality of life in the USA. The purchase of a house in Orlando has become the goal of many.
Being home to Disney World, Sea World, and Universal Studios, there is 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 industry, Orlando is certainly a great candidate for a permanent relocation destination.
Here are some of the elements that make the city so prosperous and inviting to Brazilians. Buying a home in Orlando can be a great deal if you are looking for the following features.
Weather
Orlando has incredible weather all year round. There are no long rainy periods and no snowstorms.
The weather 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 numerous options for outdoor activities, mainly due to its excellent weather.
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
Because Orlando has a thriving tourist industry, there are many part-time and full-time jobs in the city.
Since the city is always busy, most hotels and restaurants are always looking for employees to cover the shifts, so it is easy to find jobs in the hotel and restaurant sector in fast food.
Investing
If you are thinking about investing, Orlando is a great option. There are numerous opportunities to start your own business and penetrate unexplored market segments.
O real estate investment market and entertainment industry in the city is bustling and generates great business opportunities in the long term.
Fun
Orlando is home to the world-famous Disney World Resort, the Universal Studios theme park, Busch Gardens, and the Epcot Center.
There are hundreds of restaurants and shopping centers all over the city, which will ensure that you will never be 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 cafes, restaurants, bistros, snack bars, and top-notch restaurants that serve dishes from all over the world.
Whether you are in the mood for Italian or Indian food, or simply want that homemade rice and beans, you can find it all in Orlando.
Infrastructure
Benefiting from significant investment and infrastructure development, Orlando is arguably one of the most urbanized cities in the United States.
So much so that it is officially among the Top 10 US cities in 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 Home in Orlando
After these details, are you interested in investing in Orlando's 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 are an experienced real estate investor who already knows Orlando or a first-time buyer who is looking for a vacation home, having the support of a real estate team is certainly a must.
Below we will discuss some important details for you to keep in mind when buying a home in Orlando.
Why buy a home in Orlando?
Buying a home in Orlando allows for positive cash flow opportunities, through rent, and 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 potential tenant market.
According to the 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-buy opportunities, offering a window of opportunity for investors in the furniture market or for those wishing to purchase a vacation home.
A Listing Real Estate Managementa local Orlando property management company, projects higher rental rates and significant increases in property values in the city over the next decade.
According to the Orlando WeeklyThe #1 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 property strategy
Buying a home in Orlando should follow the same principles as buying real estate elsewhere in the world.
You may have in mind that any real estate investment in Orlando is a smart move, but not quite. There are many options available, some are excellent, others not so much.
When buying a home in Orlando for the first time you should have clear goals and a well-structured strategy.
The first question to ask is: are you looking for cash flow, appreciation, or a little bit of both?
There are areas in the Orlando real estate market that allow first-time buyers to reap a positive cash flow on a monthly basis through rent.
Other areas, on the other hand, allow a stable investment, aimed at increasing the value of the property for future sale.
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 for stable and secure investments such as: Winter Park, Windermere, Oviedo, Lake Mary, Baldwin Park, College Park and Winter Garden.
These areas contain higher real estate prices, but generate a much higher return in terms of rental values and property appreciation.
Although it is an excellent opportunity, you as a buyer should not get too excited. The purchase of a home in Orlando should be planned, and preferably made with the assistance of an expert who knows the region.
Benefits of Orlando real estate investment
Real Estate Investment in Orlando is on the rise and getting stronger every day. Buying a home in Orlando is becoming an increasingly popular option among Brazilians.
Investments seeking long-term appreciation have many benefits, and you as a homeowner can take advantage of this. Also, if you want to have 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, vacation homes are presented as investments.
Some markets are emerging, while others are declining. 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 tourist numbers, as mentioned above.
However, despite significant growth in the number of visitors, occupancy rates in hotels have dropped in recent years.
The main reason for this is because of the vacation homes, as many of the visitors are domestic travelers and many come for a trip with the whole family.
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 of innovation, new industries, and technology.
The area is an aerospace hub and houses an important facility for Lockheed Martin.
Orlando is the leading simulation center and leader in video game and virtual reality development.
Commercial services are also moving to Orlando, benefiting from Florida's tax regime.
Major distribution centers for companies such as FedEx, Amazon, WalMart, and Best Buy are located in areas such as Haines City.
Retirement Plan
Traditional investments for retirement can often be unprofitable.
When you acquire a property outside the country, you are obliged or forced to hold an asset for the long term.
Regardless, you will have higher returns and consistent cash flow.
Orlando is outperforming all other parts of Florida in terms of real estate sales activity and capital appreciation. The growth in the Orlando area in 2019 reached 15%The rentals also showed 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 affordable
Besides the excellent variety of attractions and resorts, another factor that makes buying a home in Orlando attractive is the prices.
Compared to other large 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 is also easier to sell. Since July 2018, overall home sales increased 7%.
Other factors that make Orlando an attractive place to be is the cost of living.
Besides 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 #1 city in the US for job growth, makes this region of Florida incredibly inviting and Real Estate Investment in Orlando an excellent decision.
Are you in doubt?
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 take advantage of all the tips we have brought to you and to go even deeper, you can talk directly to our relationship agents. They are always happy to talk to you with any questions you may have about investing in Florida.
In this text we cover the Disney secrets to avoid mosquitoes in the parks in Orlando. If you want to read more content like the one we brought in this article, just stay tuned here on our blog.
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