Florida leads in residential real estate sales: the benefits of buying a home in the southern state for investment and the most popular destinations for renters

Rise in the USA real estate prices

Florida is one of the most famous U.S. states, whose resorts all year round attracts not only many tourists but also foreigners who prefer to buy a property here for permanent residence.

In March 2022, the U.S. market saw a 20.9% (annualized) increase in home values. In February this year, appreciation was 3.3%. At the same time the price of real estate for sale in Florida rose by a record 31.4%. Such growth is due to a number of reasons, but an important role in this played by foreign buyers and investors, which also includes the expats from European and CIS countries. Due to the removal of various restrictions of the pandemic period, many foreigners were able to come to the states to buy homes and to move for permanent residence.

Foreign buyers of real estate in the United States

Statistics show that from 2015 to 2021, of the total number of foreign nationals who bought real estate in the U.S., most of the buyers were from the following countries:

  • China (12%);
  • Canada (11%);
  • Mexico (8%);
  • India (6%).

Statistics on the types of real estate purchased in Florida

Florida is one of the top priority destinations among all the states of the America. At the same time 59% of home buyers in the U.S. at the time of purchase were already living in the country. For investment or recreational purposes was purchased by 36% of the total number of properties. In addition, 54% of buyers used purchased homes and apartments as their primary residence. However, it is worth noting that of the categories of housing on the market foreigners prefer to buy apartments. Deals with mortgages were quite common. This type of payment was used by expats who already reside in the United States.

Buying real estate in Florida for investment

Florida is a very promising region for buying real estate for investment purposes. The demand for housing in the region is constantly at a high level, and the successful properties are sold out very quickly. Tenants usually seek to extend the lease, which provides the owner of the apartment a stable passive income. 

If you are planning to buy an apartment in order to run a rental business, then pay attention to the most popular regions of Florida for tenants:

  • Miami-Dade County;
  • Orlando;
  • Southwest Florida.
  • Broward County.

Main advantages of real estate in Florida

From an investment point of view, real estate in Florida has a very high liquidity. Demand for apartments and houses due to the good climate, proximity to the ocean, quality infrastructure and loyal state legislation increases annually. Also the increase in demand is strongly influenced by the pandemic and the emergence of a large number of remote workers who are trying to use the opportunity to live closer to the ocean. 

Choosing the right property option

This state can safely be called a paradise. Gentle sun, warm ocean, endless sandy beaches, breathtaking scenery, friendly people take the top places in the list of benefits. Besides the favorable climate, Florida is attractive to immigrants with its high standard of living: low taxes, low mortgage rates, favorable business climate. Even in winter, it is virtually the only region on the North American continent where you can enjoy warm sunshine. 

Among the real estate options in Florida, the most common are apartments, condominiums, detached homes and villas, and townhouses. Many investors give preference to apartments, as they are easier to find tenants. However, private homes in the premium segment are also in good demand. 

To find the best option for buying a home, go to Florida.Realestate, which presents the latest offers from developers and real estate agencies. You can compare actual prices, study the features of different objects, estimate the conveniences of different apartment complexes and choose the most suitable variants for yourself. For your convenience, the site can choose prices in euro and dollars.