Is this the right time to sell a property in Florida?
The property market in Florida has made a strong comeback in 2014, which has continued as we get into the middle of 2015. The attraction properties in Florida have to offer to overseas investors is not difficult to understand.
Florida offers the best lifestyle you will get anywhere in the United States, which is the world’s most prosperous country. Fantastic weather all through the year, stunning beaches, a great place to do business and no state income tax. In almost every survey, Florida figures right at the top as one of the "Most Desirable Places to Live" in the world.
This year, the number of property transactions in the Sunshine State is at a high, for the first time since 2007. The sales of single-family homes, for instance, are up by 5 percent since 2014 already.
Florida is the third most populous state in the US, and also one of the most prosperous ones. In fact, it is one of the 5 fastest growing states in the country. The strong population growth is expected to boost the Florida economy considerably, which should drive up the prices of properties in Florida.
Florida is also an ideal retirement destination. It is the place where so many older people in the country look to relocate to after retirement. Florida’s excellent climate and world class amenities make it one of the top retirement destinations in the world. Now that the Baby Boomers are in their 60’s and 70’s, we expect a great rush of demand from them for homes in Florida.
What’s also quite impressive about Florida is that it was largely unaffected by the recession to have hit the rest of the United States in 2008. That’s because how diverse the Florida economy is. It is not just dependant on financial services or real estate. There is a booming technology industry, a large healthcare sector, an evergreen tourism business and a vast service economy.
Also, the government offers several great incentives for people to buy property in Florida, such as the First-Time Homebuyer Tax Credit which has really driven property sales at the lower end of the market.
Florida receives over 400,000 migrants a year, which means there is always a strong demand for new homes in Florida. According to several studies, to buy a property in Florida causes an increase in personal well-being among migrants, which helps them live their American dream.
So properties in Florida will never go out of fashion. There will always be rich overseas investors keen to buy a property in Florida. Right now, overseas investors are attracted by the high inventory levels in the Florida real estate market. This means opportunities for them are plentiful.
However, already, we are witnessing the inventories sinking real fast as the sales volumes increase. So, if you’re looking to sell a property in Florida, you’re likely to get excellent offers for it, so this isn’t something that you should worry about. But don’t wait too long to put up your Florida property for sale, because you will never get a better opportunity than this year.
If you’re looking to sell property in Florida fast, you need to hire the best international property agents with extensive contacts overseas, especially China and other emerging countries – that’s why you need to get in touch with the WorldWide Group, who are the #1 UK estate agents for overseas property markets.
For more on how we can help you sell property in USA, do contact us at the WorldWide Group by filling the contact form here. We will be sure to get back to you ASAP.