Investing in Florida?

There are some seemingly obvious locations for property investment in Florida. Names such as Miami, Fort Lauderdale, Tampa and Orlando are known to nearly everyone. This is not quite the case for Pensacola. In the north of the state, near the border with Alabama, and looking south onto the Gulf of Mexico, Pensacola can still boast family homes at an average of £80,000. Pensacola was America’s first settlement, and thus has a lengthy historical and cultural tradition, with some fine museums and many miles of beaches covered with silver sand. In the Gulf breeze residential area a three-bedroom, two-bathroom single-storey home might cost you only $160,000 – just over £80,000. Its location is expected to grow in popularity in coming years.

Another relatively unknown location is Ocala, about 50 miles north west of Orlando. Home to the National Forest,it sits among horse farms and fruit plantations. Despite being almost in the middle of Florida’s ‘pan-handle’ Ocala is only an hour from the Gulf of Mexico coast. Here a three-bedroom, two-bathroom home might set you back only £64,000. Ocala has a healthy economy, clean environment and the population in the county is growing. It could be prime investment material.

Property in the more well-known locations is inevitably more expensive. In Orlando, close to many theme park attractions, a one-bedroom apartment is going to cost you around £70,000, and a three-bedroom home is going to be upward of £105,000 – but these are still bargain prices compared to the UK.

In Miami prices can vary depending upon location, but you can find one-bedroom apartments for as low as £50,000, or for £150,000 on Harbor Island in Miami’s upcoming neighbourhood of North Bay Village with stunning views of the beach and skyline of Biscayne Bay.

A three bedroom apartment at 6000 Indian Creek enjoying lovely water views, could cost you over £300,000.

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