Real estate in Florida
Today, it’s not difficult for a foreigner to buy property in Florida. The real estate market in America is open to citizens of other countries and the sunny state, as always, attracts foreign buyers with its vast, snow-white beaches in Miami, which have become its symbol. However, there are many other promising places to buy houses and flats. Numerous cities in the state are perfect for relocation or investments in real estate in Florida. Whether you are looking for a holiday villa, a new permanent residence or a rental property, you can easily find a variety of options to suit all your requirements.
Real estate for sale in Florida, USA
Florida offers a wide variety of housing types to meet the needs of any buyer. There are affordable apartments, luxury villas, oceanfront homes and spacious penthouses for sale in different parts of the state. Off-plan projects in Florida are also available in different configurations and come with a wide price range, enabling everyone to find the right property to suit their budget. The state, being a popular tourist destination, also presents excellent investment opportunities, guaranteeing a stable rental income.
Florida is home to many different nationalities; it attracts tourists and expats from all over the world. It is a great place for families with children, retirees and young professionals. Wealthy foreigners who want to own luxury beachfront property also come to Florida.
The state’s main advantages are:
- A tropical climate that allows you to enjoy over 300 days of sunshine a year;
- Various attractions that make Florida a great place to live and spend holidays;
- A more favourable taxation system compared to other US states;
- Good employment opportunities, including offline and online work, which is especially interesting for freelancers and specialised professionals;
- Well-developed infrastructure, providing access to medical centres, schools with different education systems and universities.
The only drawback may be the possibility of seasonal hurricanes or tornadoes. However, this does not prevent people from buying real estate in Florida. Foreigners, as a rule, prefer to invest in hurricane-resistant housing and there are numerous options for such a property.
Miami has long been a symbol of the state, but in addition to it, there are other equally popular destinations: Hollywood, Tampa and other cities, each with its advantages. Foreigners successfully adapt in any of these locations.
The state of Florida is environmentally clean; there are no large industrial enterprises here. In addition, getting used to the local climatic conditions is relatively easy.
Types of real estate in Florida
A potential buyer can find a variety of real estate in Florida for investments and living. Some of them are:
- Single-family homes. This is the most common type of housing in Florida, consisting of detached homes with their plots of land.
- Condominiums and apartments in Florida. Flats can be located in high-rise buildings, while condominiums can be found in special complexes with shared amenities, such as swimming pools and gyms.
- These are residential buildings adjacent to neighbouring structures. They usually have several floors and share a common wall with neighbours.
- Villas and Mansions. Luxury villas in Florida, located in upscale neighbourhoods or on the coast, are also available.
In addition, various commercial property options are available in the state: shops, restaurants, offices, warehouses and other types of properties.
Investment real estate in Florida
As of September 2023, average real estate prices in Florida in the detached home segment rose by 2.8% year-over-year to USD 402,500. A year ago, that figure was USD 391,400. The number of properties sold also increased by 1,200 units, reaching the 30,815 mark.
Concerning real estate costs in Florida, the average sale price of different types of homes in September was USD 575,000, marking a 7% increase from 2022. This dynamic is worth considering if you plan to resell your home later. If you intend to rent out your property, it can also yield a high income. The price in this case varies depending on the state. For example, in Miami, the tenant pays about USD 1,635, while in Tampa, the average rental rate is about USD 1,300 per month.
Profitable to buy property in Florida on Florida.RealEstate
You can choose your ideal home in the Sunshine State on our property aggregator website. The site brings together listings from verified agencies and developers, providing access to a wide range of properties on the market. The website offers convenient tools for filtering and searching for property in the USA based on various criteria, such as type, price, location and other parameters. This eliminates the need to consult different sources of information. Start searching for your Florida apartments today!