Florida is one of the top ten US states for immigration. But not everyone seeks to buy real estate in Florida to move permanently. Many consider residential property as an investment. Let’s consider the reasons why foreigners choose Florida.
The advantages of Florida for those moving for permanent residence
Among the advantages of the state can be distinguished:
- Comfortable climate. Most days of the year are sunny. Slush and cold weather are absent. You can swim all year round, winter clothes are not required.
- Affordable housing prices. In California and New York they are an order of magnitude higher, while in Florida you can buy an apartment for 400 thousand dollars.
- Stably developing economy and developed infrastructure. The state has a high quality of education and medicine, while the cost of living is at an average level.
- Tolerant attitude of locals to foreigners. Difficulties with adaptation during the move does not arise.
Advantages of Florida real estate as an investment
As an investment, the purchase of housing in the state is no less favorable:
- Capitalization of value. Housing prices tend to increase. This allows you to resell the apartment more expensive in the future.
- High liquidity. The demand for housing stock is consistently high. Therefore, if there is a desire to sell an apartment, a buyer will be found quickly.
- A wide range of objects. You can find your own option for any budget level. There are both compact and affordable studio apartments and luxurious villas priced at several million dollars.
- High profitability. The annual rental rate varies from 6.5 to 10%. The most weighty indicators in the resort Miami Beach.
Prospects for investment in real estate investment in Florida
The state remains and will remain a popular resort destination. Tourist season lasts all year round, which allows you to make profits throughout the year. Experts believe that the demand will remain not only for rental housing. It will be no less in demand among buyers for the following reasons:
- Supply will shrink. This will especially affect the coastal line, where fresh development is impossible due to the lack of available space.
- Active migration of the population will also cause a shortage of housing.
These circumstances contribute to the capitalization of value and allow to resell the property more expensive.