Do you have a property for sale in Orlando, Florida, USA? Orlando is the theme-park centre of Florida and the bedrock of the state’s economy. It draws over 65 million tourists every year, which is the most for any location in the United States.
Orlando is home to the Disney World, but it is much more than that. It is also a popular overseas property destination. A number of foreign investors look to buy holiday homes in Orlando. It is also a major business hub in Florida, with a population of over 2.3 million.
Orlando has definitely benefited from Florida’s pro-business environment. Taxation in Florida is one of the lowest in the United States. There are excellent economic opportunities for one and all in Orland. This has made it the second fastest growing metro area in the USA in terms of population. The city attracts 350,000 immigrants every year.
While tourism and hospitality remain the biggest industries by far in Orlando, over two-third of the city’s workforce is employed in other sectors.
In fact, the whole of Central Florida has become a leading centre for e-commerce business. Florida is preferred by startups because of the low tax base applied here. It also ranks high for infrastructure, technology and connectivity.
There has been a major expansion of the Orlando International Airport, with a new $1.8 billion south terminal set to be launched in early 2019. A new $3.1 billion Intercity train system will be started towards the end of 2017. The public transportation in the city is expected to get a major facelift because of this.
So what does this mean for the property market in Orlando? To be specific, what does this mean for you if you’re looking to sell your property in Orlando, Florida, USA fast?
The real estate market in Orlando has certainly benefited from the explosive population growth and the diverse economic opportunities on offer. The demand is quite high and the fundamentals of the property market are quite solid. We expect to see a lot of positive momentum going forward.
A number of Fortune 500 companies have been moving to Central Florida. So there’s a lot of demand for real estate in Orlando. Investors feel pretty confident about Florida as a whole, and have a particular preference for Orlando.
It’s not just American investors who are buying properties here. There’s a lot of interest in properties in Orlando from Chinese and British buyers. In fact, Orlando has a large and growing Hispanic community, which is why Latin Americans are among the biggest buyers of properties here.
2016 has been a very good year for the real estate market in Florida. It’s been even better for Orlando. Home and condo sales have been on the up.
According to Jonathan Smoke, Chief Economist at realtor.com, 2016 is easily the best year the property market in Orlando has had since 2006. Home sales are expected to increase by 8 to 10 percent by the end of 2016. Home prices are set to increase by 5 percent. So this is good news any way you look at it.