Florida: A great place to purchase for both lifestyle and investment reasons.
21 May 2013
Florida for lifestyle reasons, however with sales of American homes now at their highest levels since 2008, and the largest annual gain in over 6 years, the market is showing signs of real recovery (Source: A Place in the Sun).
Housing costs are significantly rising and the demand for property is only increasing. As with previous trends, when property prices increase, so does the cost of land. Therefore current market conditions are perfect for investors looking to invest in land in Florida now, and profit later by selling to builders or constructing a new home for rental or holiday purposes.
We are are currently offering for sale a selection of residential land plots in Ocala, Florida. All plots are delivered unencumbered, with freehold Title Deeds and with irrevocable planning permission for a low-density residential development.
Pauline Bonnani, Select Resorts Managing Director comments on current market developments;
“Our sales trends currently indicate increased confidence from investors looking to purchase land in Florida. The land plots for sale in Ocala are a fantastic size and the location boasts many factors that indicate investors will benefit from excellent returns – both in the short and long term.
The Ocala development already has infrastructure in place, including roads and all utilities, yet investors have no obligation to build – they can hold onto the land until local, international or personal factors determine the most profitable time for a sale, or they can build their own property to increase their potential ROI and benefit from the growing rental demand of the area.”
Offered for sale at 45% below their 2007 prices, the plots are available for just £25,000 with interest free finance – an extremely attractive proposition for investors. The project predicts an annual ROI of 8%, which is reserved – based on current market trends.
Property values are currently 70 – 80% below their peak prices in 2008, however trends are indicating prices bottomed out in 2012, and are now starting to rise once again (Zillow.com). Increased job growth, new construction projects and airport expansions are all likely to increase land values in Florida within the next 5 years and with its low cost of living and no state sales tax – the numbers indicate this is a prime time for investors to purchase land in Florida and maximise their return on investment.