Take a ride on High Flying Florida
Press Release (July 27, 2010)
Time To Take A Ride On High-Flying Florida
Figures released last month have indicated that the Sunshine State has become a prime holiday destination once more for both US, and overseas visitors. Visit Florida, the official tourism arm of the state, announced that in the first quarter of 2010 an estimated 22.7 million holidaymakers descended upon the golden coast – an increase of 2.7 percent on the same period last year.
The breakdown of the figures show that 19.7 million US residents enjoyed Florida’s beaches, and waters, while there was an 8.1 percent increase of overseas visitors arriving at Florida’s airports for their time in the sun.
Ed Fouche, chairman of Visit Florida, was quick to extol the figures as great news for the state, and for its own efforts in promoting vacations in Florida, as well as an upturn in trips across the border by Canadians, which was up by 5.3 percent of the total.
“This clearly demonstrates,” he said, “that well-executed tourism marketing is a smart investment.”
It is a mantra that Ollie Booth, CEO of USA Property Investor, is also keen to echo.
“Florida is hot, in more than ways than one at the moment”, says Ollie, “and we are forecasting a surge in property investment in the next few months. With prices too good to miss, there has never been a better time to invest in the Sunshine State.”
For instance, in West Palm Beach, Orlando, you can purchase a 2-bedroom, refurbished condo with fantastic onsite amenities at a jaw-dropping 80% reduction from the original sale price. A 10% net yield on this rakes in a profit of $295 a month.
Or take a brand new 3 bed, 3 bathroom Orlando town house currently tenanted at $1,000-$1,100 a month. These are selling at just $99,950. A third phase of new-build will be available later this year – but the prices then will be starting from $155,000 per property.
“These are just some of the amazing investment opportunities that are currently available to investors,” says Ollie, “but the key word here is currently because with the new interest in Florida as a holiday destination, prices won’t stay this competitive for long.”
On current trends, new high-flying Florida could well spawn a new breed of high-flying investor.