Florida real estate investors who were at a time only looking to invest in the popular Southern-most Florida cities of Miami and Key West are now turning their attention to other coastal and Panhandle cities in Florida real estate. Florida is a fast growing state in the country these days.
Statistics reveal that whenever people begin to gather to an area, the real estate market takes off straight after it. This is one of the several reasons that Florida real estate is one of the best situations for real estate investors right now.
The state of Florida has seen a 2.3% rise of its population in 2005. This made it one of the top ten fastest growing states in the country. Whilst the overall population of the entire state of Florida has grown in recent years, that doesn’t imply that a Florida real estate investor can just select a city randomly in which they can invest their money. Some of the fastest growing cities in Florida real estate are Panama City, Lakeland, Pensacola, and Fort Walton Beach.
Due to the hurricane seasons Florida, real estate investors should verify statistics for the parts of the states that receive a minimal amount of hurricane damage. This runs especially true for Florida real estate investors who are looking to invest in rental property.
Many people which are new to the area are quite scared of hurricane areas and are moving to cities that are likely to get hit less often. These areas include Tampa, Jacksonville, Tallahassee, and cities along the Florida Panhandle.
Another idea for Florida real estate investment is beachfront property. Whilst this kind of property is one of the most costly kinds to buy, it also has a potentially high resale value. Not only that, but beachfront condo or home can be rented anywhere from $500 to $5000 for a one week stay.
The disadvantage is that people don’t often rent during the winter months so there is only about a 20 – 24 week rental period, whilst upscale properties yield up to $100,000 to $120,000 per year. As beachfront properties are quite costly, beginners or investors with only a small amount of capital to invest should not look to this kind of Florida real estate investment.
Florida’s white sand and blue green ocean water is just two of the things that keep people coming to the area one year after the next. Whether they are new residents to the area or just tourists enjoying some sand and sun, the one thing they will always need is a roof over their heads. This is why Florida real estate remains at the investor’s top list.
Mary Petersen is a contributing editor at RealEstatePropertyArticles.com. This article may be reproduced provided that its complete content, links and author byline are kept intact and unchanged. No additional links permitted. Hyperlinks and/or URLs must remain both human clickable and search engine spiderable.