Several cities in Florida are among the most profitable for those who decide to buy property, either to rent it out or for its appreciation in value.

As an internationally renowned tourist destination, Florida receives hundreds of people every day looking for a residence.

This is mainly due to its pleasant tropical climate all year round and also its world-famous theme parks.

But tourism is not the only reason that attracts people to Florida, many wish to live there as well.

Thus, foreigners who want to invest in the United States and have income in dollars, need to know that this is a great time to invest in the Florida real estate market.

Thinking about it, we have separated 6 reasons to invest in the real estate market of Florida and show how this market is strong and with diverse business possibilities.

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6 reasons to invest in Florida's real estate market

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1 - High population growth rate.

The cities of Florida do not stop growing. According to a survey conducted by Forbes magazine, six of the ten fastest-growing cities in the United States are in this state, Orlando being the second in the ranking.

It is expected that by the year 2024 Florida will have an increase of about 906 new residents each day, which represents a population increase rate of 1.53% per year.

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This way, the forecast is that only in the next two years the state will have an increase of more than 700,000 new inhabitants.

Florida is currently the third most populous state in the country and has shown a housing growth rate of 13.3% since 2010.

It is worth noting that this increase is mainly due to migration, whether of people coming from other states or other countries.

To get an idea, in April 2018 the population was 20.84 million, rising to 21.2 million at the same time the following year.

By April 2022 that mark is expected to reach 22.2 million, and 22.8 by April 2024.

With this, the forecast is that by 2030 Florida will reach the mark of almost 26 million people residing in its territory.

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2 - Hot labour market.

One of the main factors for such a large number of people wanting to live in Florida is its booming job market.

Aligned with a strong propaganda made by the state government, which shows itself as an ideal region for enterprises. The current government supports the creation and growth of companies in its territory.

This makes people attracted both by the opportunity to open new businesses and by the number of jobs available and their good pay.

For you to be able to measure the productive potential of the state, think that the annual GDP is more than U$ 1.1 trillion and has had a growth of more than 50% in the last ten years.

The rate of job growth is high throughout the state, so that all metropolitan regions have an abundance of new vacancies in virtually all areas.

Some sectors are better positioned than others, such as IT, medicine and the other health areas.

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3 - Quality of life.

Another reason for people to want to live in Florida is the quality of life, as the cities receive major investment in infrastructure.

So the priorities are applications in road network, accessibility, transport network and others. All of this ensures the well-being of the residents.

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In addition, it is possible to maintain a balance between work and leisure time, making the lifestyle less stressful.

And the climate is always pleasant, with temperatures ranging from an average of 27 °C in summer to a minimum of 15 °C in winter.

The state is among those that do not charge personal income tax and has a cost of living about 2% lower than the country's average.

Among the various possibilities for fun we can mention the hundreds of kilometres of beach, the world-famous theme parks, outdoor activities, and many others.

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4 - Florida real estate market heated up.

With everything we have said so far, you can see for yourself how promising it has been to invest in the Florida real estate market.

Based on the facts, there is no forecast for a fall in property sales.

But on the contrary, this sector is expected to continue growing, because, the figures are the best in recent times.

In the last five years there has been an appreciation of almost 38% in property prices, in 2020 alone this increase was 7.9%.

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5 - High demand for property rental.

The same reasons that make the Florida real estate market hot also increase the demand for rentals.

Therefore, this investing in the residential housing market becomes extremely attractive for those looking for ways to have passive income in the United States.

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It is even possible to finance a house and pay the monthly instalments and other charges with the earnings obtained from the rents.

And depending on the investment, it can generate good profits. In other words, investing in the Florida real estate market is a real deal that pays off.

This is one of the best ways for foreigners who want to have financial assets in dollars, one of the strongest currencies in the world.

In Florida rents are 8.5% higher than the average in the United States and when you compare the price per square metre they become 18% more expensive than the country's average.

Rented homes account for 34% of all real estate in Florida, which becomes another important fact in demonstrating how great the demand for rentals is in this state.

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6 - Invest in the market at vacation home.

A vacation home is a residential property, other than the owner's primary residence, and is used primarily for recreational purposes, including vacations or holidays.

Because it provides more privacy, keeps the family closer together while traveling and is a way to save on lodging and food expenses, many people have chosen to rent vacation homes in Orlando instead of staying in hotels.

The search has become so great that today this is a market that generates US $27 billion a year for Florida's public coffers.

With such strong power in the economy, the Orlando holiday home market has become an excellent investment option also for foreigners, who want to diversify their assets and have dollar income.

You can buy a vacation home, use it whenever you are in town, rent it out when you are not occupying it and part of the income helps with the fixed costs of the property.

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Don't miss the opportunity to make an investment in the Florida real estate market.

Whatever your investment choice, Selecta Realty is the premier real estate agent in the Orlando home market for a strategic and unique buying experience.

If you are interested and want to know how to invest in the Florida real estate market contact us, we will advise you on the purchase of the ideal property for your business plans.