It is clear that the impact of the pandemic has put the economic system on a roller coaster for many countries, but It has also created tons of opportunities to take advantage of, especially when they occur in a safe and stable market such as the one in the United States.
Orlando, in particular, has seen annual listing prices rise by 20% over the past year, making this one of at least 5 areas that saw an annual listing price of 18% or more, according to USA Today. The city has been gloating about economic stability for the last 4 years, tourism growth and investment are some of the main reasons for its expansion. The presence of beautiful beaches, Universal Studios, SeaWorld, and the most popular, Disneyworld have made Orlando the most attractive place for thousands of tourists every year. Therefore, its rental market was reliably named “one of the best rental markets in the USA” and nominated for having the most profitable rental properties for investors to build equity.
The demand for short term rental property means steadier income for investors in the Orlando real estate market. Investors can’t wait for sale prices to decline because of the shortage of supply. New home buyers are pushing the prices higher and mortgage rates are shooting up the home buying market creating the best scenario for sellers and buyers.
Close to 70 million people visit Orlando every year, drawn by the area’s world class theme parks as well as dozens of golf courses and premium shopping outlets. As the pandemic is brought under control and the economy begins to recover, these iconic places are likely to benefit from pent-up demand from visitors around the globe.
In any sort of investment, cash flow is gold. Considering Orlando’s real estate market has a high potential for growth due to the current state of its economic expansion and population. Now is the best time to invest and get a boom in rental income before potential mortgage payments skyrocket due to pos-pandemic rate levels.
Orlando’s market is so hot that the demand for housing has not only recovered from the COVID-19 pandemic but has reached heights that make it very strong by any historical standard. Taking things further, building long-term wealth and ensuring healthy finances when the Orlando real estate market remains strong is the best investment strategy you can make.