THE KEY FACTS ABOUT FLORIDA
At Life Style we strongly encourage you to know the full facts about the country that you are buying in, Therefore please read this useful factsheet on the "State of Florida". It's more than just Mickey Mouse and theme parks! Did you know that Orlando Florida is the most visited place on the planet? attracting over 87.5 million people a year (2006 official tourist figures) and it's growing at more than 1.7% annually, so you only need a small percentage of those visitors to rent your home to easily have 35-40 weeks rental per year. Florida also attracts over 1500 people each day moving from other US States. Florida is the 3rd most populated State in the U.S., and is expected to surpass New York State in just 8 years. And from an investors point of view the State of Florida regulates the sale of property, and anyone involved with real estate sales or development require Florida Permits. So naturally we at Life Style hold current Florida Real estate licenses, ask this question to our competition? Check us and the competition out at www.myfloridalicense.com!, which is database maintained by the State of Florida of all licensed real estate agents.
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Rentability |
Simply brilliant rental market 52 week destination |
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Capital Appreciation |
2-5 year plan to maximize appreciation |
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Long term rating |
Excellent, airport links and accessible from most international airports |
| Florida Map, State Flag and Typical Properties. | |||
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| Useful Information: | |
| Time Difference: -5 GMT | Currency: US dollar (USD or US$) |
| Flying Time: 8 1/2 Hours | Visa Required: Brit's can stay 90 days (As homeowner with B1/B2 Visa 180 days) |
| Major Airports: Orlando, Miami, Tampa | Work Visa Required: Yes |
| Dialing Code: 001 | Electricity: 110V/60Hz |
State History
Juan Ponce de Leon discovers Florida in 1513 when he lands in NE Florida, possibly near present-day St. Augustine, to claim Florida for Spain. This is when written records about life in Florida began. First permanent European settlement is established in 1565 in St. Augustine. Florida becomes a U.S. Territory in 1821. General Andrew Jackson serves as military governor until Congress ratifies a territorial constitution. William P. Duval, Florida's first civil governor, calls the first Legislative Council into session in Pensacola on June 19, 1823. Admitted to U.S. as a State on March 3, 1845 (27th State).
Florida now is the second fastest growing state in the US. This has been accredited to its ideal climate and to a large number of US and International companies relocating there over the past 20 years. These companies include aerospace, electronics, light engineering, manufacturing, agriculture and of course major tourist attractions, such as Walt Disney and Universal Theme parks to name only a few.
Florida has the third-largest immigrant population in the United States (after California and New York), and the fourth-largest immigrant population share of its total population (after the above two states and Hawaii). More than one of every eight of its residents is foreign born. About one in every eleven immigrants in the United States lives in Florida.The majority of Florida's immigrants comes from the Caribbean basin. Mexico plays a minor role in this settlement pattern. These immigrants play a vital role in Florida's economy and without them major areas of construction and the tourist attractions would simply grind to a halt.
State Facts
Location: North America, bordering the states of Alabama and Georgia
Land Area: total:151,670.4 sq km land: 140,512.68 sq km Water:11,157.72 sq km
Coastline: 1,925.97 sq km
Climate: Florida is known around the world for its balmy weather. The state's mild winters have made it a haven for retirees and snow birds from Canada and other parts of the colder world. Summers can be long and hot, with showers providing much appreciated relief during the rainy season. Coastal areas also experience gentle breezes during the summer.
Terrain: The state of Florida is very flat & the highest point is only 345 ft above sea level. It is often joked about " Space Mountain" in Disney being the highest point in Florida!
Environmental Issues to consider: Emissions from coal-burning utilities and industries contribute to air pollution; acid rain, produced from many light industries spread across Florida. There are a number of other issues which stem from a large population growth over the past 10 years, such as land fill issues, shortage of water and sewage works and large amounts of chemicals being used to clean, and maintain a large population.
Population: Florida's Population (2003) - 17,319,068.
Government Type: Constitution-based federal republic; strong democratic tradition . capital city - Tallahassee Counties regions in Florida - 67, Form of Government - Governor and independent cabinet consisting of Attorney General, Chief Financial Officer, Commissioner of Agriculture. Legislature - 120 House Districts, 40 Senate Districts, 23 Congressional Districts
Legal System: Civil law system with indigenous concepts; judicial review of legislative acts in the Federal Constitutional Court; has not accepted compulsory ICJ jurisdiction
GDP: $12.98 trillion (2006 est.) GDP Growth Rate 3.4% (2006 est.) Inflation Rate: 2.5% (2006 est.)
Economy - Overview
The US has the largest and most technologically powerful economy in the world, with a per capita GDP of $43,500. In this market-oriented economy, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. US business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products. At the same time, they face higher barriers to enter their rivals' home markets than foreign firms face entering US markets. US firms are at or near the forefront in technological advances, especially in computers and in medical, aerospace, and military equipment; their advantage has narrowed since the end of World War II. The onrush of technology largely explains the gradual development of a "two-tier labor market" in which those at the bottom lack the education and the professional/technical skills of those at the top and, more and more, fail to get comparable pay raises, health insurance coverage, and other benefits. Since 1975, practically all the gains in household income have gone to the top 20% of households. The response to the terrorist attacks of 11 September 2001 showed the remarkable resilience of the economy. The war in March-April 2003 between a US-led coalition and Iraq, and the subsequent occupation of Iraq, required major shifts in national resources to the military. The rise in GDP in 2004-06 was under girded by substantial gains in labor productivity. Hurricane Katrina caused extensive damage in the Gulf Coast region in August 2005, but had a small impact on overall GDP growth for the year. Soaring oil prices in 2005 and 2006 threatened inflation and unemployment, yet the economy continued to grow through year-end 2006. Imported oil accounts for about two-thirds of US consumption. Long-term problems include inadequate investment in economic infrastructure, rapidly rising medical and pension costs of an aging population, sizable trade and budget deficits, and stagnation of family income in the lower economic groups. The merchandise trade deficit reached a record $750 billion in 2006.
For the State of Florida the following facts apply:-
Why Buy In Florida?
With record breaking tourist rates and massive expansion in the domestic real estate sectors, house prices in Florida are still about a 1/3 of other states. It's hard to ignore the magic of the excitement of Florida's Disney's Epcot, Magic Kingdom, MGM and Animal kingdom, Seaworld and Universal Studios. Worldwide appetite for this ever-evolving, multi-faceted wonderland remains insatiable.
Florida is one of the most important property markets in the world, popular with Worldwide audiences including the Americans undertaking multiple return trips year after year. As it is estimated that there are currently 78 days of theme parks without repeat (increasing daily), so multiple trips are required to do Florida justice. This with the ever reducing cheap airline tickets has increased tourist figures up to its estimated all time high 87 million. This is keeping property prices particularly buoyant: houses in Orlando (short term rental) communities have doubled in the last 2 years alone. The small but steady rise in interest rates that would ordinarily discourage buyers, has only marginally discouraged the domestic market, but the international buyers coupled with the very favorable exchange rates makes for a very healthy market, and there is no sign of any slow down, both in the domestic and investment ownership market. High demand for rental properties still enable properties to be bought and rented out in order to cover mortgage and running costs, with the added bonus of massive (in terms of US prices) price rises. It is still possible to justify your purchase based on rental income But careful selection needs to be done. There are a number factors that effect US property purchase relating to mortgages, and these are:-
Another major reason effecting purchasing is the ever increasing investment into all sorts of tourist attractions; theme parks, water parks, restaurants etc. 2006 will see opening of new attractions and expected record high investments. Florida is also the most visited place on the planet, which makes for a shortage of high quality hotels and villas all year round! and although there are 3 seasons to Florida holiday makers there is always high demand for rental property. So this is an excellent place to invest, and will be at the top of our list.
