Florida property owners set to benefit from holiday rentals boom

Tuesday, September 10, 2013

Florida property owners set to benefit from holiday rentals boom

As the British nights draw in we begin to dream about holidays in the sun next year.

Of course there are dozens of choices - the Canaries, Dubai, Morocco? - but with sterling at an eight-month high against the US dollar, maybe Florida should be in your sights?

Tourism is booming there and its property market is well on the way to recovery from the US downturn.
For potential Florida holiday property buyers or existing owners, the 2014 holiday season is displaying a positive outlook for villa rentals.

With millions of visitors attracted to the 'Sunshine State' every year, recent UK search engine activity shows that Florida peaked amongst searches for 2014 holidays compared to the other top destinations such as Spain, Italy, France and Turkey.

As well as having year-round sunshine, Florida is home to many of the world's most famous attractions including Walt Disney World, Universal Studios and Busch Gardens. However, as shown by such an increasing number of recorded visits to Florida, the amusement parks in Orlando are not only what allures holiday makers throughout the year.

The state is surrounded by a coastline of over 8,246 miles that hosts stunning beaches, a lively nightlife and stylish bars and restaurants. It also holds appeal due to the extensive shops and malls on offer, as well as some of the most exclusive golf courses. The destination is also becoming more popular due to the decreasing cost of flights.

The analysis by villa rental specialists Top Villas also indicated that web users started searching for Florida 2014 holidays as early as June 2012. In comparison, searches for the other top destinations only picked up nine to ten months later. Holidaymakers seem to be seeking their ideal Florida holiday rental both earlier and in greater numbers than before.

It looks as if the best-performing communities in Florida are Reunion Resort and Formosa Gardens that typically have the larger-than-average homes and are both located only 5.5 miles from Disney.

These locations also appeal to those who enjoy everything in one place with impressive amenities on complexes: tennis courts, shops, restaurants, bars, luxury spas and much more.

The top-performing homes are those with the largest numbers of bedrooms, ranging from 8 to 12 and costing from £6,000 to £13,000 per week, like the one pictured. This may sound a lot but not when the cost is for a 10-bedroom property that sleeps 24, it becomes relatively affordable.

Hence the recent holiday trend of larger groups staying together in one home, which is especially popular in Florida.

The American Office of Travel and Tourism Industries have reported an annual growth of 10 per cent in visits to the US from UK visitors. The recent growth in strength of the pound against the US Dollar is also probably accountable for encouraging travel abroad to popular areas such as Florida.

UK holidaymakers heading to Florida also look set to spend more than ever. A report carried out by the ONS (Office for National Statistics) shows that between April and June 2013, UK holidaymakers spent six per cent more than the previous year during the same period.

James Mannings, partner at Top Villas, commented on the trend: "Florida has always been a popular holiday destination, but the demand seems to be rapidly increasing. Some of our holiday properties have had bookings made over 18 months before the arrival date. It also seems that the more popular villas are those that accommodate for more people. Florida property owners and potential buyers should certainly consider Florida for the future as a solid investment."

Get help buying a property in Florida

A Place in the Sun produces free detailed guides to buying property abroad. Download the guide to buying a property in Florida and search properties for sale in Florida.

There's a dedicated are within A Place in the Sun Live for those looking to buy a home in Florida - The Florida Property Pavilion has a great selection of properties for sale and experts that can advise on the process of buying property in Florida and options for getting a visa. It's a great place to meet an agent that could help you find your perfect Florida home.

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