Properties for Sale in Florida

Properties for Sale in FloridaThe very first state wide survey into who’s most interested in properties for sale in Florida was concluded earlier this month and it seems that up to 30% of the interest is coming from overseas - particularly from Europe and particularly from the UK.

It seems that overseas buyers can’t get enough of the properties being offered for sale in Florida and they’re ploughing more and more of their home country acquired equity into houses and condominiums in Florida; so here’s a special feature about property in Florida for anyone contemplating joining the party!

Up to one in ten of all those who apply to the USA for immigration are heading for Florida, it’s the sunshine state and it’s the state that seems to personify the American Dream for so many foreign migrants.  With an excellent year round climate (apart from the odd hurricane!), with fashionable and chic towns and cities, unrivalled entertainment possibilities and with strong employment prospects the state of Florida offers something for everyone.

Annually up to 18,000 British people head to Florida to examine the real estate market; they want to buy investment properties and second homes and it’s this group of people who are most interested in the properties for sale in Florida according to both the National Association of Realtors and the Florida Association of Realtors. 

These British buyers typically have between USD 200,000 and USD 500,000 to spend on apartments and family homes and with the average property price in Florida at the end of 2004 USD 182,400 they are acquiring some tasty real estate for their budget.

Average prices across Florida fluctuate massively depending on the intensity of desire for real estate in a particular county with Orlando and Miami the most popular areas.  Taking the entire state as a whole however, you can expect to pay an average price of USD 100,000 for a small 2 bed apartment or USD 400,000 for a 4 bed family house.  Taking Miami Beach as a further example, average condominium prices have risen from USD 190,000 in January 2002 to USD 473,000 in June 2005 showing that there is incredible potential for real estate wealth growth in Florida when you buy the right property in the right area!

If you need finance to buy in Florida then you can currently take advantage of some of the most attractive lending rates America has enjoyed for years.  You can arrange fixed rate mortgages for up to 30 years with average interest rates at only 5.6% or fixed for 15 years at 5.2%.  If you’re not resident in the US you can still buy and borrow but you can only borrow up to 80% of the valuation of the property you’re interested in.  Alternatively you could consider releasing the equity you have on your primary home and using this to fund your purchase.  You should seek independent and qualified financial advice before you take this path however as it may not suit your personal financial situation.

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