The median value of Orlando residential property rose by more than 12% year-over-year in May 2016 and topped $200,000 for the first time in eight years.
The median price of homes reached $203,000 in May, the first time it has topped $200,000 since August 2008, according to the latest figures from the Orlando Regional Realtor Association (ORRA) and sales volumes rose by 7%. The median price of condos increased 15.29% and the median value of single-family homes increased 10.68% year-over-year.
Central Florida also boasts a buoyant property market boosted by limited listings and availability, says Garrett Kenny, Chief Executive Officer of top developer and agent, Feltrim Group, and it’s an ideal for leasehold investors looking to generate revenue and enjoy vacation time in the region.
Mr Kenny, who has recently been in China to promote Feltrim’s new luxury lakeside development, Balmoral at Waters Edge, a new premier resort and community near Orlando, says: “Consistently rising prices and limited availability mean that buy-to-let investors not just in the United States, but from around the world, are keen to purchase our luxury Central Florida villas and townhouses.
“Orlando median home prices have now risen year-over-year for 58 months running and the median price is 75.76% higher than five years ago. There’s little sign of the market slowing down at the moment.
“Balmoral at Waters Edge even offers leasehold investors a 6% net return, plus off-peak season use, which means they get the best of both worlds – secure returns and enjoy the area’s world-class theme parks, including WaltDisneyWorld and Universal.”
The development features prime Tuscan-style custom homes with three- to eight-bedrooms in a peaceful, 113-acre private gated community, with parks, lakes and gardens, from just $318,000, including furniture and a private pool.
In addition, Feltrim Group’s property management division takes care of all aspects of renting properties, which provides a worry-free option for global investors. “The leaseback offer runs for up to three years and leasehold property will be managed and maintained from the resort clubhouse.”
Among the wide range of leisure and recreational facilities at Balmoral at Waters Edge is a resort-style pool with luxury clubhouse, waterpark, lakeside beach, gym and spa, gourmet kitchen and restaurant.
For more information, go on-line at: www.feltrimgroup.com