The Florida real estate market is popular with foreigners; property in this US resort state is in high demand as an investment. Some people prefer to buy a villa for sale in Aventura, Florida, for a seasonal vacation, while others make the move permanently.
This article explores why foreign investors choose overseas real estate in Florida, and its profitability.
Investment attractiveness of the Florida housing market
The resort areas of Florida remain the most popular. These are located in the southeastern region, and include Palm Beach, Miami-Dade, and Broward. The climate allow you to swim in the ocean and enjoy sunshine all year round, which makes the area popular with tourists.
Many people traditionally prefer Miami. The region is associated with expensive housing stock and a quality standard of living, and the proximity of the international airport simplifies the transfer. In addition, Miami-Dade has a developed community, which helps the moving process run smoothly.
Florida real estate types
The development of the Florida coastline is so dense that it can be challenging to understand the boundaries between different settlements. Foreign investors prefer to invest in areas on the coast; prices are higher here, but the profitability of residential demand fully justifies them.
All modern types of real estate are presented in the district, including apartments, houses, and villas. The best type to invest in depends on your investment strategy:
- You can buy housing in a new building at the development stage, and sell it on completion for a profit.
- You can rent an apartment or a house using the services of local management companies.
Foreign buyers prefer flats and apartments. A smaller percentage of transactions are made with houses. The commercial sector accounts for only about 5% of transactions.
Why investing in Florida housing stock is profitable
It is not only value capitalisation that makes investments attractive. Rents in Florida are also steadily rising. The top cities with the highest rents for 1-bedroom apartments are as follows:
- Miami. Up to $2,520 per month. The rent increase amounted to 34% compared to last year’s period.
- Fort Lauderdale. The fee reaches $ 2,000, an increase of 20.5%.
- Tampa. You can get $1,800 per month for an apartment. This is 34.3% higher than in the same period in 2021.
- Orlando, where you can rent an apartment for $1,700 monthly. Rent growth amounted to 16.4%.
These figures confirm the profitability of investing in housing for further rental.
Florida real estate pricing policy
The cost of real estate in the region after the crisis of 2008 has been steadily increasing. You can find budget properties worth $300,000 and premium real estate worth several million on the market.
Obtaining an investor visa when moving to Florida
This is a convenient option for doing business. This format differs from a tourist permit to visit the country, by requiring additional investment. The only drawback is that only citizens of countries with a trade agreement with the United States can apply.
To apply for an investor immigrant visa, participation in the activities of a local licensed company with an investment threshold of $800,000 or more is required.
Other visa options for moving
The United States also provides visas for certain categories of citizens. Among them are specialists, students, and contract workers. In the latter case, a statement is required from the employer who sponsors the foreigner.
More detailed information about the US visa regime and the sale and rental of real estate can be found on the official website Florida.Realestate. The largest housing aggregator in Florida will help you find a property in Miami, Hollywood, and other popular locations.