An experienced property journalist has come back from a fact-finding mission to central Florida with news that more and more major developers are re-igniting their interest in building in the region.
Richard Way of OverseasGuidesCompany.com returned from his trip with evidence that many big names are already busy on projects in the area, as interest from foreign buyers and investors has increased over the last 18 months.
“It’s a good sign when North America’s largest homebuilders are involved in developing new communities in Central Florida. Right now, these include DR Horton, Lennar, Pulte Group, Beazer Homes, Taylor Morrison and the Canadian firm Minto – the heavyweights are there and are busy,” says Way. “Around Orlando, in particular south of Disney World in areas such as Davenport, Kissimmee and Haines City, developers have returned to the market following a period that saw demand in the Sunshine State focused predominantly on foreclosures and distressed sales.”
Florida Realtors recently reported a year-on-year 10% increase in the median value of family homes, to $203,500. New homes listings also rose by 10% in the same period.
“An increasing diversity of investors is helping to fuel the market…with rises in Chinese, Brazilian and Venezuelan, as well as British, buyers notable in 2015,” adds Way.