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Florida Property Back On Top As Buy To Letters Bag The Bargains
October 27, 2009Article by Ray Withers
There has been talk of the downturn causing the permanent demise of buy to let investment, or there certainly was such talk at one time.
But now, as the recession eases around the world, and people are once again buying property in foreign countries, some for investment some as a lifestyle choice and some a little of both, it becomes apparent that the downturn has actually increased the prevalence of buy to let investment.
Now more than ever the people who are investing in property are doing so based on hard cash projections of rental returns.
Enter Florida property investment stage left. Florida is and always will be one of the biggest, best and most popular tourism destinations in the world. But rental yields will never be as high as they are now, because property prices will never again be this low.
“Florida property investment has always been looked on as a buy to let product, and even when property prices in Florida increased massively, rental rates were always so high that yields were still good. Now that prices have fallen a great deal more than rents have the yields are as good as you’ll get anywhere in the world,” said Ben Jeffries a sourcing manager with international property investment consultancy Property Frontiers.
Property Frontiers have a varied portfolio of some of the best Florida investment property for the buy to let (or even buy to flip some would argue) investor.
For the seasoned buy to holiday letter they have the Cane Island development offering 2 bedroom apartments just 8 minutes from the entrance to Disney World for £125k. Such a property would have been twice that in 2007. 3 and 4 bedroom apartments are also available.
For those looking at residential lets the Royal Greens development in Ft Myers, which has among the fastest growing demand for residential rentals in the western United States is perfect. Royal Greens offers 1, 2 and 3 bedroom condos at the 60% discounted price of £31k, £37k and £45k respectively.
Finally the Grande Oasis development near the waterfront in Tampa offers studios, 1 and 2 bedroom condos at a 70% discounted price. Studios are priced from $42,900-$47,900 and fetching rents of $685 – $710, 1 bedroom units are priced from $48,900 and achieving rents of $765 – $910, and 2 bedroom units are priced from $65,900 and achieving rents of $935-$1125.