Investment potential within the States generally tends to be
focussed on the state of Florida, so hotspots within this state are
identified below.
Orlando
Over 50 million people visit Orlando and central Florida every
year, attracted to the many tourist attractions such as Disney
World, Sea World and Universal Studios, as well as by the
warmer, drier weather that tends to be found in the coastal
regions. It is the area most popular with British tourists and is
touted as being one of the most visited destinations in the world.
It has a very healthy rental market driven by the tourism industry
and is the area most likely to present the best returns. Property
within a few miles radius of the tourist attractions tends to
command the highest rental prices. Advice from holidayrental.co.uk
suggests that a three bedroom villa in the region could command
£450 per week in high season, dropping to around £350 a week in low
season, whilst a five bedroom villa could command weekly rental
rates of up to £700 in high season and £500 a week in low season.
Reports for May 2008 from the Orlando Regional Realtor Association
show the median price of a home is now $214,000 (£109,200), a 1.42%
increase on the previous month's median price.
Atlantic Coast
The Atlantic coast of Florida boasts such famous locations as
Daytona Beach, Miami and the Florida Keys, all of which are
unlikely to ever go out of fashion, at least for the foreseeable
future. Miami is a world class city, with prices to match, and as
the economy reignites these will rocket up. Miami has a reputation
as a party city and the key demographic is the 25 -35 year old age
range. Daytona Beach and Palm Beach are ideal locations for retired
couples who wish to use their property for a couple of months a
year and rent it out for the remainder. To the north of the coast
is St Augustine, the USA's oldest city (founded 1565). It is a
quieter more refined version of Orlando, whilst still being a
resort city, offering the added interest of a long history on top
of the beaches, shopping and golfing attractions. A three bedroom
townhouse here can be found for under $300,000 (£153,875).
Florida Keys
The Florida Keys are a string of small, interlinked islands that
emerge from the southern tip of Florida and stretch down into the
Gulf of Mexico. The opulent surroundings contain some of the most
expensive and desirable properties, with prices on average 25%
higher than the rest of the state. Due to its constant popularity a
stable rental market is guaranteed.
Gulf Coast
The Gulf Coast has a slightly wetter climate, especially in the
months of July and August so tends to be less popular with families
holidaying during the summer school vacations. However, it is still
very popular with retirees, especially with those who originate
from the colder northern states, earning themselves the nickname
'snowbirds'. Around two thirds of the US's wealthiest citizens
spend their winter at Naples, the most popular town resort on the
coast which boasts exquisite white beaches, luxury golf resorts and
a bustling restaurant atmosphere. Subsequently, prices are much
higher, with waterfront properties commanding prices that are
around double the amount for a similar sized house in the Orlando
area.
Ski Property
Aside from the state of Florida, investors may be interested in
making more of a lifestyle-motivated investment and head for the
hills on the western side of the country. The spine of the Rocky
Mountains that runs from Alaska, through Canada and down the
western side of the United States offers many excellent skiing
investment opportunities, some rated the best in the world. The
state of Colorado offers the majority of the well-known names, such
as Aspen, Breckenridge and Vail, with other resorts, such as Winter
Park, set to expand on a similar scale. The appeal of properties
here is that they have a year round market (either for renting out
or personal use) as the mountains have both winter and summer
seasons. Aspen is by far the most expensive, with properties easily
reaching into the millions of dollars, whilst resorts like
Breckenridge and Winter Park offer smaller properties that range
between $200,000 (£101,800) and $300,000 (£152,800). A luxury,
ski-in ski-out, three bedroom condo in an excellent location in
Breckenridge is on the market for $1.5 million (£764,000).
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