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Florida’s sun-drenched climate and an enormous range of year-round tourist attractions continue to draw vast numbers of overseas property buyers and investors. The weakness of the Dollar is fuelling the real estate market in the USA and international buyers are buying much more for their money in Florida than ever before. European holiday homebuyers and investors favour quality condo townhouses, villas and apartments, many of which offer the convenience of all-inclusive turn-key options at bargain prices.  If you are buying property with the intention of renting it out in vacant periods, it's important to note that property in Florida is often subject to zoning regulations preventing, or limiting, short-term lets: eg. the area of Celebration, Orlando, is a long-term let zone, meaning short-term holiday rentals are not permitted in order to avoid disturbing the peace for permanent residents. The USA operates a multiple listing service (MLS) where all licensed real estate agents (or Realtors) and brokers have access to every property for sale in their area. Unlike in many countries, all realtors must be licensed by the National Association of Realtors and pass strict exams to become legitimate professionals. A real estate agent can act on behalf of the seller, the buyer or indeed for both parties, but their commissions are charged to the seller in all cases. Booming tourism boosts investment The “Sunshine State†is a magnet for international holidaymakers and property investors, attracting the same number of visitors per year as France, and the greatest numbers of British and Irish second homebuyers compared with any other English speaking worldwide destination.  Hotspots such as Disney’s Orlando attract huge numbers of foreign buyers as well as a healthy year-round buy-to-let market. In addition to the iconic Disneyworld, Florida has a wide array of attractions for tourists and homebuyers: Miami, known for its trendy lifestyle and art deco hotels in the South Beach area; smart Fort Lauderdale; the beautiful Florida Keys; the wetlands of the Everglades; along with an endless supply of shopping malls and golf courses to suit all needs and tastes.  Florida may boast 360 days of sunshine per year, but on days when it rains, it pours! June is the wettest month of all, with an average rainfall of 237mm. Summer is generally hot and humid with average highs of 30°C. Investor-friendly state Buying a property in Florida or anywhere in the USA is generally far less complicated than elsewhere in the world. Florida is named the "user-friendly state", largely due to the vast numbers of foreign buyers, providing a safe and reliable arena in which to invest.  Florida has experienced the highest growth rate in the entire USA over the past ten years. Florida’s market economy alone is the 15th largest in the world and is still one of the fastest growing in the USA. This boom is driven by rapid population growth, expanding international trade, strong capital flow from overseas and a constant influx of tourism. Mature, tried and tested Demand for property in Florida shows little signs of abating: the state welcomes some 1,100 new arrivals daily, in turn, generating a booming economic climate in which to invest in all types of property. Flights to Florida’s airports are plentiful and economical, especially during low season. In addition to being a favourite British destination, Florida is a particularly popular property location for North and South Americans, as well as Germans. Considering the huge demand for holiday homes in Florida, particularly amongst the British, it is easy to see why Florida has become one of the most established property markets in the USA.  |