Brits number one tourists for Florida property in Orlando

Friday, September 11th, 2009
UK travellers are the biggest international market for tourism to popular Florida property destination Orlando, it has been claimed.

The Orlando Tourism Bureau believes guaranteed sunshine and plenty of family-oriented activities are the secrets behind the city’s success with fun-loving Brits seeking a Florida property holiday to remember.

Danielle Courtenay from the Orlando Tourism Bureau, said: "The UK market is actually our number one international market.

"Our British visitors come for about ten to 14 days and you can come year after year and never do the same thing twice […] all of those options mean that everybody travelling with you is going to have a good time."


The organisation could provide a boost for people who own Florida property as a holiday rental investment, as it is currently launching its new ‘Orlando makes me smile’ campaign.

The campaign is designed to increase awareness of Orlando as a holiday destination, placing emphasis on the good value it offers tourists, as well as cementing its reputation for fun and excellent hospitality.
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Florida property destination tops empty new homes list

Tuesday, May 26th, 2009
One of the main locations in the Florida property market has one of the highest numbers of vacant new homes in the US, a new study has revealed.

Figures from housing research firm Metrostudy have shown that Orlando is one of the most affected cities with an 11.7 month supply of such homes, the Orlando Sentinel reports.

Commenting on the situation, Metrostudy’s chief economist Brad Hunter said: "The higher the months of supply, the greater the downward pressure on starts and prices."

He placed the city alongside Las Vegas, San Diego and southern California as among the most affected parts of the US.

Such a situation could provide a good supply of cheap new homes for Florida property investors to buy.

Last November the company said that Orlando’s new homes market will recover, with the increasing number of households being a factor.

However, it predicted this would be happening from late 2009 onwards, which may suggest investors have a window of opportunity to buy at low prices in the meantime.

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Orlando property hailed as attractive for rental owners

Tuesday, May 5th, 2009
Owning and renting out a second home in Orlando is an attractive proposition, it has been stated.

In a feature on the subject, eGruve.com suggested that there are many particular advantages to owning an Orlando property and renting it out to holidaymakers.

Among those listed were the growing number of holidaymakers, the presence of attractions such as Universal Studios, Disney World and SeaWorld, the lower insurance premiums compared to beach resorts - due to less hurricane damage inland - and the "serious incentives" being offered by some sellers.

Such an investment should "pay for itself quickly" through short-term holiday rentals, the site suggested, with the local attractions meaning that tourism is much less seasonal than in coastal locations.

One location where some may be keen on buying an Orlando property is near Mission Road in the west of the city.

An extended part of the road is to be named Barack Obama Highway by the city council, the Orlando Sentinel reported.

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Investors returning to Orlando property market, say experts

Thursday, April 16th, 2009
Central Florida’s housing market - including the Orlando property scene - is picking up again, professionals involved in the sector have stated.

Investors and first-time buyers are said to be coming back in large numbers to pick up bargains due to lower prices, with half of these being repossessed properties or those short sold, in which a bank will accept a price worth less than the full mortgage, the Orlando Sentinel reports.

Commenting on the increasing willingness of banks to short sell, Orlando area realtor Patrick Higgins told the news provider: "Lenders are becoming more responsive."

Those keen on buying Orlando property may find this is a less expensive way of doing so, although Mr Higgins noted that the process can be slower than the standard procedure in a normal transaction.

Evidence of higher sales emerged at the end of March, when the Orlando Regional Realtor Association revealed that property transactions in February this year were 28.1 per cent up on the number seen in the same month in 2008.

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Cabaret performances for Orlando property investors

Tuesday, April 7th, 2009
The Orlando Cabaret Festival is to take place from May 1st-17th 2009, the seventh annual event of its kind.

Orlando property seekers and others can enjoy the music both in the evenings and in special lunchtime performances designed for those who are working, all held at the Mad Cow theatre.

Artists involved include Andrea Marcovicci, described by festival organisers as "the queen of cabaret herself", Christine Andreas - who has twice been nominated for Tony awards - and last year’s debut band the Broadway Boys.

The event may provide another reason for investors to consider Orlando a good place to invest in property and enjoy the entertainment available, as well as the sunny Florida weather.

Orlando property seekers have been more active this year as buyers have taken advantage of lower prices, research has indicated.

Data from the Orlando Regional Realtor Association for February showed (rep) that the number of sales was 28.1 per cent higher than in the same month in 2008.

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Orlando property scene offering bargains

Friday, October 10th, 2008
The Florida property scene is offering a varied picture, but those places where prices are still rising are at the top end, it has been reported.

In the state, Orlando property prices have fallen 17 per cent in the past year, Sify reports.

This is in contrast to some top-end locations in the state, such as Fisher Island, an exclusive development in the Miami Beach archipelago that has seen average prices rise by $525,000 (£310,000) to $3.85 million on average.

Sify noted that this contrast is also true across the US, with places in Silicon Valley in California still rising but average prices down.

However, such a situation, suggesting the house value falls are concentrated in places where prices are lower, could mean those looking to buy Orlando property will find it much more affordable.

Fisher Island is an exclusive location that can only be reached by boat from the mainland, the island’s website states.

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Florida airports win awards

Tuesday, September 30th, 2008
In news that many interest those thinking of investing in Orlando property and Florida property, two airports in the state have scooped awards in a poll.

A survey of business travellers by Conde Nast magazine found that Tampa was the second best airport overall in the whole of the US, with only Oregon in front.

Orlando came in fifth.

Tampa came top of the poll among US airports for ease of connection and comfort.

These high rankings may also mean that those travelling to Florida as tourists are more likely to come back due to the quality of facilities they encounter when they are arriving or leaving.

Such a trend may help boost tourism and thus help investment in rental holiday property.

In the case of Orlando, it is the second time this week a facility used by tourists has been recognised.

The Renaissance Orlando resort at Seaworld has won the Media and Conventions Magazine Gold Key award, Marriott revealed via PR-web this week.

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Orlando airport set for new investment

Thursday, September 4th, 2008
In news that may interest those looking to invest in Orlando property to tap into the tourist rental market, one of the city’s airports is reportedly set to receive funding for improvements.

Orlando Sanford International Airport will get $9.2 million (£5.17 million) in federal funding for projects to improve facilities, of which $8.2 million will be used to resurface the main runway and $1 million for land acquisition to extend another runway, the Orlando Business Journal reports.

Such developments may make possible a further increase in traffic for the airport, which may help boost the tourism industry.

Orlando International Airport has seen traffic of over three million passengers in each of the last seven months up to July 2008, the same paper noted in a separate report.

Although US tourism has been dented by the worldwide economic situation, business at Walt Disney World is said to be remaining healthy.

Hotelier Greg Hauenstein, general manager of the nearby Buena Vista Palace, told ajc.com last week: "Our business this year is up over last year."

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