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Florida Property Investment: The Time Is Now Say Experts
March 3, 2010Article by Ray Withers
Florida property is currently a better investment than it has been for years, and one of the best investments on the global market, international property investment consultancy Property Frontiers has announced. The firm is currently marketing a massively discounted Orlando resort development, and it is opportunities like it, that make Florida a world-beating destination, according to the firm.
In a recent release project manager Chris Chad said:
“There is now substantial evidence to show that property prices in Orlando have bottomed out, whilst demand for property is doubling year on year, and investment in the Sunshine State continues to increase. With the official launch of the new Universal Studio theme park “The Wizarding World of Harry Potter” set for Spring 2010 all eyes are once again are focused on Orlando, meaning there has never been a better time in living memory to invest in property in Florida.”
The property being referred to is the Village at Town Center Orlando offering 1-3 bedroom condominiums in a fully equipped resort just minutes from the main attractions (Disney World, new Wizarding World of Harry Potter), priced from just $54,900. The prices are 70% discounted from the most recent valuation (below market value) and 50% discounted from their build-replacement cost. Marking a discount from the replacement build cost is considered the true way to measure a discount in the current climate.
Tenants are already in place and the units are yielding 10% per annum based on current rents. One of the best things about the Village development is that it can be rented out residentially or as a holiday home. This is unique in the Florida property market, where rentals are zoned; properties in residential zones cannot be used as holiday homes, and properties in holiday zones cannot be let residentially. This gives the Village development a unique flexibility that will allow owners to continually maximise their earning potential.
In a recent news article, David Cox, Property Frontiers director said of the Village development:
“This is the first development we have had for some months in Orlando itself, and we have researched it to the same degree as our others in Florida, so we are quietly confident that it will sell just as quickly as the others have. Let’s face it, when a property carries an offer like that, the research is simple: find out whether it is too good to be true, if not, buy it.”
Cox was referring to the fact that several Florida property developments the firm has marketed in recent months have sold out in a matter of weeks.
For more information contact Property Frontiers on +44 (0) 1865 202700.