Nicola, Senior Partner of Global Real Estate and Trading comments on the Florida property market which is on fire right now!

Florida was hit hard during the housing crisis but is now rapidly recovering and experiencing one of the strongest comebacks in the whole of the US. The strong demand in the Sunshine State has helped to push median single family home prices up by over 12% in the last few months to $168,000 and condo prices up by 8.4% to a median price of at least $136,000.

There has been a huge increase in investors from overseas who are buying in the Florida property market; the Asian market showing the most attraction. Asian travelers are now starting to discover Florida, spending up to $10,000 per visit and tourism officials are very keen to widen this stream of big spenders to boost the state’s economy. The acceleration of a once depressed market have brought the state to recovery with its incredibly inexpensive single dwelling villa plots.

UK investors and retirees have for many years seen Florida as an ideal location to invest their money and then someday live there.

Last year alone, over 57m visitors came to the Sunshine State and 350,000 people move to Florida each year. It has become such a popular attraction due to the beautiful weather and some of the biggest and best Theme Parks in the world. Together with the hundreds of miles of waterways in Cape Coral, Charlotte Harbor and of course Naples and Sarasota on the beautiful southwest Gulf coast, Florida is booming.

Most savvy real estate investors will tell you the best time to buy is just when the market has turned a corner and is starting to go up – and that’s where Florida is now.