Orlando News
Orlando is one of the best places to buy rental property and real estate in the state of Florida in 2020. Located in Florida’s “sun belt” region, the area is known for its warm climate, beautiful beaches, world famous amusement parks, entertainment, and attractions.
With a growing population of over 2.5 million residents, the Orlando real estate market is fueled by job seekers, baby boomer retirees, and students who want to live in a “cheap and cheerful” area that offers a high quality of living at a reasonable cost.
The industry, which includes support operations such as the Orlando International Airport, Port Canaveral and others, are vital to the health of the region. And a new study shared by Visit Orlando and compiled by Oxford Economics shows just how much of a role the industry dominated by Mickey Mouse ears and more plays for Central Florida. In fact, tourism is the region's top economic engine and can result in business opportunities for all sectors of Central Florida.
Florida's geographic location makes it one of the primary logistics sites for any business seeking to access either the East Coast or Gulf Coast of the United States. Florida is the only state with seaport access in both the Gulf of Mexico and the Atlantic Ocean. In addition, Florida's location allows for cost-efficient access to the Caribbean and South America.
Governor Scott said, “Florida’s tourism industry and our entire economy continue to flourish. After having record-breaking tourism in 2017, Florida started off the first half of 2018 by welcoming back-to-back record quarters of visitors. These record-breaking achievements allow our economy to create more jobs and adds to our success of having nearly 1.6 million private-sector jobs created in seven and a half years while our state’s unemployment rate is the lowest in over a decade.”
Florida is growing faster in terms of employment growth than the rest of the U.S., which is good for Florida real estate. The three major drivers of the state’s economy are 1) Florida’s business climate, including real estate sales; 2) the U.S. economy and financial market trends; and 3) the global economy.
Teams based in Florida, Washington and Texas will clearly have an additional advantage over other clubs in contract negotiations with free agent players given the new tax code. They already had an advantage by virtue of no state income tax, but this will be magnified under the new tax code, with benefits on Real Estate and Sales Tax.
In November, Florida’s housing market reflected the trends we’ve grown accustomed to seeing throughout this year. More owners decided to put their homes up for sale. Homes continued to sell quickly, resulting in increased pending sales – up 5.5 percent for single-family homes and up 9.3 percent for condo-townhouse units.
