Maybe it’s just us, but the number of property enquiries we are receiving and sales going through in Florida at the moment is significantly higher than this time last year when Sterling was giving the Dollar a right thumping.
There is another trend as well, traditionally the Brits have bought Villa style property in Florida, this is easy to understand as the Brits “standard” holiday in Florida involves the rental of a Villa, typically around Kissimmee, 4 beds, 4 baths and pool at £600 per week is the standard fare. Owning this type of property is a good investment, if you can get 25 weeks occupancy and not too much wear and tear, and of course is nice to own for your own enjoyment.
Brits who are purely investing in Florida property seemed to have worked out almost overnight that of the 52 million visitors Florida receives each year, 2 million are British who like to rent a villa, and the other 50 million prefer a condo or hotel room and it feels like all of a sudden everyone is after a condo.
The mere mention of a condo used to make the average British buyer run for the woods, the perception being that they were overpriced, over managed and over the top, but many investors in Florida property have woken up to the fact that the yields from this type of property is far greater than for the equivalent priced Villa, they are cheaper to run and most are managed by good pro active letting agencies, meaning less work.
If you are flogging your stocks and shares and looking for a return better that the Building Society can offer, then Condos are looking solid at the moment starting from as little as £70,000 and despite the credit crunch 80% mortgages are readily available (subject to status). The procedure for purchase is simple and straight forward, far less complicated than a resale Villa and mega simpler than a bargain basement foreclosure.
Condo property for sale in Florida
A guide to buying and owning a property in Florida