UK AND US based real estate experts, from the British ITV property show I Want That House, are coming to town on Sunday, June 11, to conduct an information seminar on ‘Buying Property in Florida’. The seminar, being held at the Meridian Hotel in Vale do Lobo, has free admission and all are cordially invited to attend.
These popular seminars have been described as “a visit to Florida without actually visiting”, and are both educational and informative. One of the TV experts, Graham Pyle, explains: “We conduct regular seminars at major property exhibitions in the UK such as A Place in the Sun Live, the Homebuyers show and the Property Investor show. We also have a privately owned seminar room in the UK that has a video conferencing facility, which enables us to keep in regular contact with our US office and to keep abreast of the ever-changing property market. It is our aim to clarify all we know about a typical Florida property purchase, including some important potential pitfalls to look out for and things to definitely avoid.”
Last year saw a staggering 60 per cent, of the 80 million people visiting Florida, travel to a city that, surprisingly, is located some 45 minutes drive from its nearest sea and beach! The place? The city of Orlando, of course, the entertainment capital in the US sunshine state!
Although Orlando is home to a sizeable amount of the state’s 30,000 spring-fed lakes, plus it enjoys many championship golf courses, it is most famous for housing the world’s most prolific collection of theme parks. The Disney parks and Universal, plus others such as Sea World, draw millions of holidaymakers from all parts of the globe and yet there is so much more to discover within this region.
Although most tourists opt to stay in hotels, privately owned accommodation has also become popular and this has led to a property buying frenzy in the theme park catchments, where the greatest vacation rental demand exists.
British investors have spearheaded this, and now it has grown to include many foreign nationals. US citizens from northern and western states are now only just realising the merits of buying investment homes in the region.
With much higher property values in most of the northern and western territories, the trend of US buyers within the Orlando second-home property market for potential rental return and capital growth looks set to continue.
With the increasing demand for private vacation rental homes has come an introduction of rental restrictions from the various authorities. This is done by way of land zoning rental ordinances, which are implemented to protect the residents from any possible nuisance caused by short-term holiday lets. By determining legal rental use, it also limits the supply of popular vacation land, which creates value and continually fuels property prices in the popular areas.
However, despite rising prices, it is still possible to buy a luxury four-bedroom, three-bathroom villa, complete with its own private pool, for around 300,000 US dollars and there are various town homes and condominiums at lower prices, all within easy reach of the parks.
The property entry level buys a luxury suite in a condo hotel, one of the newest creations in the region and this can be bought from as little as 150,000 US dollars going upwards through to a much more luxurious, all singing all dancing version, around the 400,000 US dollar mark. With financing of 80 per cent, an easy option and such excellent value purchase opportunities, the future potential for any investor is well worth detailed exploration.
There will also be exciting news on a new emerging property market! Panama, which is located in Central America, has introduced tax incentives for retirees and foreign property owners. Property values and prices look set to go through the roof over the next few years.
Although everyone is welcome to just turn up on the day, to avoid disappointment, it is advisable to reserve your free place in advance, as seating will be limited. There are still some places left in the morning session and, by popular demand, we have now added an afternoon session too. Those interested in attending should arrive at 10.30am for an 11am start or 5pm for a 5.30pm start.
Call local representatives Gabor or Kika on 282 697 413 to reserve a place. You will also receive a free DVD, The Definitive Guide to Buying in Florida.