Liverpool, United Kingdom (PressExposure) June 29, 2011 -- British Airways is set to increase the number of flights from Gatwick to Tampa, Florida to a daily service and is responding to client demand as it already has five flights a week. Florida remains one of the most perennially popular holiday hotspots for Brits; over 16.6 million passengers used Tampa International airport in 2010 and 1.2 million in the last month alone.
This is good news for holidaymakers and people thinking about buying a holiday home in the sunshine state, especially as many believe the property market is now at the bottom of the cycle.
The number of sales recorded during the first quarter of 2011 showed an increase on the same quarter of last year, and some feel this is due to the large numbers of buy to let investors who are purchasing properties at up to 70% less than their peak values. Data recently released by the National Association of Realtors showed that investors accounted for 17% of home sales across the US, and that the majority bought with cash.
The median price for a property in Florida is now just $121,900, down from its peak value of $257,800 in June 2006. It is possible to buy property in attractive areas such as Davenport, which is just one hour from Tampa for as little as $99,000. This buys a fully furnished three or four bedroom townhouse in an established development just 10 miles from Walt Disney World and 19 miles from SeaWorld.
Developments such as these often come with swimming pool complexes and average occupancy is around 64%. which gives owners a good income from the property, as well as a holiday home they can use themselves.
With the credit crunch of 2008 real estate in Florida has fallen to an all time low with price falls of up to 70% from there peak in 2006.
Fall all the above reasons many see an investment in Florida a wise decision at this time and many savvy investors are picking up bargains.