Category : Orlando Real estate
Brosda & Bentley Realtors offers affordable real estate investments in Orlando, FL.
Properties set within integrated resort environments in Orlando, the world’s most
famous theme park destination, are selling fast as investors capitalize on the benefits of professionally managed vacation home rentals.
With on-site family amenities such as waterparks, restaurants and shopping, home
owners and guests benefit equally from their immediate environment, as well as being in reach of Florida’s prime entertainment district.
Professional and highly experienced resort management companies also drive visitor numbers through vacation operators, thereby maximizing occupancy rates, boosting bookings throughout the seasons and raising income levels for home owners.
As the theme park capital of the world, Orlando is a thriving tourism destination attracting visitors from across the globe. With significant healthcare, education and technology sectors, the broad-based, prospering local economy underpins a diverse and expanding community of 2.36 million residents. They live, work and retire in the Sun-Belt while also enjoying the area’s global connectivity, excellent local infrastructure and continued investment. All these factors build a compelling rationale for investing in the local residential real estate market.
Dynamic Local Economy
With more than 72 million visitors in 2017, Orlando in Florida is the US’ Number One family tourist destination with world-class entertainment, hospitality, sporting
and conferencing facilities. The tourism sector is an integral driver of the local economy, with ongoing investment in the area including Universal Orlando Resort’s 2017 Volcano Bay water park and Walt Disney World Resort’s upcoming World of Avatar.
With its favorable business tax climate, Orlando is also home to the headquarters of
numerous international corporations and associations. Boasting a dynamic business environment, new companies to the area contribute to the 3,500 new jobs created here each month. They attract new residents to the area, propelling population growth and generating demand for homes.
Continued Investment into Orlando
While already enjoying excellent local, regional and international connectivity, Orlando is also benefiting from $9 billion in infrastructure construction. This includes the improvement of the Interstate Highway ‘I-4’, the expansions of both Orlando International Airport and Orlando Sanford International Airport, as well as commuter train, SunRail’s new southern routes to include four new stations. Orlando is therefore firmly ranked in the Top 10 large US cities for infrastructure according to Foreign Direct Investment (fDi) Magazine, 2016.
Diverse Visitor Profile
With a 59% rise in overseas visitors (and 27% growth in Canadian tourists) to Florida between 2009 and 2016, Orlando is set to profit from ever increasing levels of demand for visitor accommodation. Canada (3.79 million), followed by the UK (1.69 million) comprise the largest single source markets for visitors. However, accounting for 37% of all overseas tourists, Latin America as a region dominates the visitor profile, with Brazil, Argentina and Colombia leading the way. A 5% rise in visitors from the Asia / Oceania region was also recorded in 2016, led by a surge in Chinese visitors, up 7% annually to 312,000.
Florida is 1st for Foreign Investors
Florida is the top destination for overseas residential investment in the US,
accounting for US$24.2 billion or 15% of home sales in 2017, according to the
National Association of Realtors. The Orlando area follows Miami as the first choice
for buyers. While Canadians comprise the single largest investor market and the UK
is the third largest buyer source, as a region, Latin American and Caribbean buyers
dominate the market (34% of all purchases). The median price paid by foreign buyers for Florida properties was US$259,400 in 2017, with 72% paying with cash only. Investment from Asia and Oceania has expanded from 3% of the Florida market in 2008 to 10% in 2017, with Chinese buyers alone accounting for 3% of purchases. Chinese overseas residential investment activity is also expected to rise this year as China, the world’s second largest economy, adopts tax changes and OECD reporting practices.
Home owners in Orlando can capitalize on rental demand from the region’s rising number of affluent, long-stay visitors and expanding year-round business tourism sector. Orlando offers unrivaled global connectivity, in particular to key source markets in Latin America, North America and Europe. Properties within professionally managed resort environments, surrounded by high levels of on-site amenities and excellent services, also benefit from greater demand, price premiums and higher rates of occupancy.
Significant Income Potential
The opportunities for home owners to let their properties to Orlando visitors and generate revenue from their investments are ever more exciting. Investors seeking
the best returns are turning to properties located in highly-amenitized resort environments with branded, well-known professional management companies.
Respected and trusted operators with decades of experience in the US market,
drive guest numbers via larger scale tour and vacation companies, ensuring strong
demand for integrated resort homes. Florida attracts more visitors who fall
within the ‘affluent family’ and ‘affluent mature’ categories than the US as a whole, and seek high quality vacation experiences. In a professionally managed resort environment, they gain all the comfort and space of home, with the
advantage of leisure amenities and hospitality services on their doorstep.
In-resort features such as water sports, restaurants, spas, golf, waterparks and
children’s activities benefit visitors seeking not only to experience Orlando’s
theme parks, but also to enjoy a longer stay in the resorts themselves. Those offering conferencing and business tourism facilities also boost occupancy in quieter leisure seasons. For home owners renting their properties, this means greater occupancy levels, a premium over other accommodation options and higher income levels.
In the first three quarters of 2017, more than 42,800 homes were sold across the
Orlando region. Demand is increasing with sales volumes up 5.8% compared to the same period last year (January to August), and investors have already benefited from 62% capital appreciation in the Orlando region over the last five years. Orange County, home to Walt Disney World commands a 17% price premium over average prices within the Orlando region, with an average price of US$282,135 achieved in 2017 (to August). Popular among local residents, vacation home buyers and investors seeking to let their properties, Orange County is also where most transactions take place, accounting for more than a third (35%) of all sales in the region so far in 2017.
Orlando in Context
Florida is the first choice of all the US states for overseas property investors. With the housing market gathering momentum at both national and regional level, investors are seizing the opportunity to capitalize on rising values as well as income returns in hotspots such as Orlando. In contrast to other major US cities, Orlando is also a price accessible location to invest and live in, making it attractive for investors, vacation home buyers and retirees.
Orlando has Universal Appeal
Orlando house price growth has been outstripping the national average,
recording 10% annual growth in the first quarter (Q1) of 2017, compared to 7%
across the US as a whole in the same period. Orlando prices are also much more
accessible than other major US cities. In June 2017, Orlando’s median house price
was recorded at US$230,000, while San Francisco Metropolitan Statistical Area (MSA) was 3.5 times more expensive and Miami MSA was 38% pricier.
Living in Orlando is also more cost-effective than other major cities. While life in New York is on average 2.3 times more expensive than the national average, in Orlando, grocery, housing and transportation costs are typically 4% below.
The US in Global Context
In the last five years, the US has recorded 34% house price growth,
substantially above the performance of many European markets that continue to
be in downturn. While not as fast-paced as some emerging markets, the
perception of the US as safe and secure, with trusted legal and banking sectors are factors which attract overseas property buyers. There are fewer barriers to investment than in other countries such as the UK’s recent adoption of a 3% additional taxation surcharge on second homes. Based on the average price of a property sold in the UK, this adds an additional £7,000 in property taxation.
The Grove Resort & Water Park
The Grove Resort & Water Park offers extraordinary real estate investment opportunities, allowing you to own a vacation rental property in one of the world’s premier vacation destinations. Located just minutes west of Walt Disney World®, The Grove Resort & Water Park puts Orlando’s world famous parks and attractions at your fingertips. Featuring indoor space and poolside, lawn and garden alfresco venues for intimate meetings, large groups and destination weddings. The Grove is Orlando’s newest destination allowing you to experience all that Orlando has to offer while enjoying an exclusive vacation escape satisfying every desire.
The Grove is the most fun and exciting new resort and water park in Orlando
providing magical vacation and ownership opportunities.
$3,000 FLY & BUY P R O G R A M
Book a Vacation at The Grove Resort & Water Park at the Best Available Rate. Purchase a Fully Furnished 2 or 3 Bedroom Luxury Resort Residence From $297k. Receive $3,000* at Closing Toward Your Travel and Stay at The Grove Resort & Water Park.
Fun Facts about Orlando
- With more than 1,250 courses, Florida has themost golf courses in the
- With 75.1 million international tourists in 2017, the US is the
world’s second most-visited country after France with 82.6 million visitors.
- When it comes to international visitor spend on
accommodation, food, drink, entertainment and shopping, the US tops the global charts with US$205.9 billion in tourism receipts.
- Orlando is home to seven of the world’s top theme parks.
- More than 80% of tourists staying in holiday homes have visited the area more than three times.
UCF 2016 SURVEY
- There are 450 hotels in Orlando.
- Orlando International Airport (MCO) is ranked as the 2nd busiest passenger
airport in Florida.
- Orlando is one of the “Most Dynamic Cities in America,” according to Worth magazine.
- Forbes ranks Orlando as the #3 city for future job growth.
- The Orlando region has been named one of Foreign Direct Investment (fDi) Magazine’s(2016, 2015, 2014) top 10 “American Cities” of the Future” in the large cities category.
- Florida has no state personal income tax.
- The City of Orlando has a vibrant, downtown core including community venues: Amway Center, home of the Orlando Magic and a top-ranked NBA sports facility, a brand new Dr. Phillips Center for the Performing Arts, newly renovated Camping World Stadium and an upcoming MLS soccer stadium.
- There are more than 500,000 higher education students within a 100 mile radius, providing a rock-solid talent pipeline for companies in the region.
Own a vacation rental property in Orlando, just minutes west of Walt Disney World® offered by Brosda & Bentley Realtors. Call +1 (305) 788-9393 for info.