Florida, often known as the Sunshine State, is the southernmost state in the United States. Home of breathtaking beaches and magnificent panorama, Florida has always been a vacation paradise. And recently, the state has gained popularity as an ideal place to look for a permanent residence. Consequently, investors can strike it rich by investing in Florida real estate.
Unequivocally, Florida is most renowned for its sandy beaches, which entice scads of people from all over the world. Capitalizing on this constant influx of tourists, the hospitality industry has come up with more brilliant ideas to attract an even greater number of tourists. As a result, Florida now boasts of amazing theme parks and cruises, luxury hotels, golf courses, zoos, aquariums, beachfront resorts and museums. Hence, a Florida real estate investment in 2007 is bound to be a sure shot success.
Rest houses, condominiums, beachside apartments are the property types that sell like hot cakes in Florida. The major reasons to consider Florida real estate investing are as follows:-
Mortgage rates are fairly low as of now. The state does not have any income tax and levies low tax on real estate.
Florida has a considerable population growth rate. According to the US Census Bureau, Florida will surpass New York State to become the third most populated state in the country by 2010. This in turn promises a steady demand for Florida real estate.
Florida has a booming economy, owing primarily to its tourism industry. The job creation rate is a healthy one as well. In fact, Florida has had the lowest unemployment rate in the nation over the past four years. In addition, the state boasts of excellent educational facilities and well developed infrastructure – reason enough for investors to go ahead with their Florida real estate investment.
Considering the above points, it seems viable to invest in Florida real estate. However, you must bear in mind that Florida law prohibits passive investing. Therefore, select a property that would yield a healthy rental income and could serve as your residence when you don’t have tenants.
In a gist, Florida real estate investment is very much profitable as long as the state has favorable mortgage rates, a booming tourism industry and a steady job creation rate.
Copyright © 2007 Joel Teo. All rights reserved. (You may publish this article in its entirety with the following author's information with live links only. )
Joel Teo writes on various financial topics including Investment Properties in Las Vegas. Learn more about Investment Properties in Las Vegas in our Real Estate Investment Resource Site today.