After the great real estate crisis of 2008, which affected the whole world, Florida currently presents itself as a propitious destination for real estate investment. Whether buying vacation homes, family homes, apartments or commercial rooms, the state has attracted many Brazilians. This is because there are many advantages in the short and long term for those who invest in these acquisitions. Even in dollars, the prices of high standard real estate in the United States are similar to those in Brazil in tourist areas (and with much lower quality). So, if you intend to dollarize your investment portfolio, know 10 reasons to choose Florida.
1 - Economic growth of the Sunshine State
All of the USA has recovered very well from the great crisis of 2008. But in particular the state of Florida has shown promise, well above the country's average. O The state's GDP reached the $1 trillion mark last year. In other words, it surpassed that of countries with developed economies, such as Switzerland. And that's not all. According to the Florida Chamber Foundation, the region grows $2.7 billion a day.
2- Return on investment
In addition to its economic growth, Florida presents itself as an excellent destination for investment and ranks 19th among the 150 best cities to invest in a vacation home in the United States. These are the data from the NAR survey, National Association of Realtors, which takes into account the return on investment as the main parameter for the ranking. Since 84% of buyers see this acquisition thinking about the return on capital. Meanwhile, Forbes magazine elected last year the state as the best place to do real estate investment. The magazine's estimate is that by 2021 real estate will appreciate by 35%. Read more here.
By the experience of The Florida Lounge relationship agents on the sold properties that are managed by the partner Property Management Company, houses reach an average occupancy between 67% and 80%This guarantees a short and long term return on the purchase of a house.
3- Investment valuation
Also according to NAR and Forbes, real estate in Florida, and more specifically in Orlando, has very encouraging predictions for investors looking to buy now. This is because the valuation of this type of investment has seen a increase in state of 4.2% in the first half of this year. And not only that, in the city of Orlando the average annual appreciation reaches 10%.
4- Market liquidity
It is not only the appreciation that is interesting for an investor. The market's liquidity is another preponderant factor for choosing a region to expand the investment portfolio abroad. This is because when the time comes to sell the property, one must be sure of a quick sale at a good price. According to the Orlando Regional Realtor Association, a home is on the market in the state of Florida for an average of 51 days. While in Brazil, the time that a property stays on the market is 16 months.
5- Tourist appeal
Florida's coastline is considered one of the most beautiful in the entire country, the "American Venice" is located in the state (Fort Lauderdale), Orlando has the most popular amusement parks in the world (Disney, Universal, NASA, Sea World), while Miami is known for its glamorous tourism.
There are many different options and styles of tourism throughout the state. It is no wonder that the region receives record visits every year. In 2018 there were more than 126.1 million tourists who went to Florida. This is the eighth record year for visitation. Brazil alone sent 1.1 million tourists last year.
The great movement of people boosts the economy as a whole, especially the commerce and real estate sectors, to absorb so many tourists in vacation homes in the region.
6- New business opportunities
More and more large companies are moving into the region. Due to the facilities offered by the United States as a whole, and also due to the economic growth of the Sunshine State. A high GDP is synonymous with high purchasing power and constant job creation. It is also indicative of opportunities not only in the real estate sector.
7- Buildings Infrastructure
Lennar is one of the country's leading builders, with a nationwide presence. In the state of Florida, the brand has townhouses, condos, and single-families in the everything-included style. And even inside luxury condominiums with everything you need for comfort and fun in a perfect vacation in Orlando. In this way, it is possible to find the ideal property for Vacation Home investment among so many high quality options available in the market.
Some error has occured.
Some error has occured.
8- Support network of Brazilians
Brazilians are among the main investors in Florida. More than just acquiring real estate, many move to the region with their families. This is due to the similarity of the climate with that of Brazil and because the state is already very open to receiving foreigners. In this way, if there is a future possibility of settling in the USA with the family, this is a guarantee that the region is favorable for adaptation.
9- Meeting point
Besides being a place of great tourist circulation, Florida is strategically located for important commercial exchanges and has all the infrastructure for this. Orlando's international airport, for example, is currently being expanded, and the forecast is that by 2020 it will have one more terminal with more than 16 departure and arrival gates. Which demonstrates the A bet for growth that has been materializing every year in the region.
Learn about The Florida Lounge concierge services. We offer an exclusive 360º consulting that involves all processes related to living in Florida and investing in the region.
10- Specialized Consulting
To make a real estate investment in Florida you can count on The Florida Lounge's expert advice. The brand operates in the sector of Brazilian investment in the United States. The whole team is able to provide complete advice on all the stages of the property acquisition, from the visa scheduling, to the delivery of the keys.