The US economy is developing steadily, so investors tend to invest in real estate in metropolitan areas or popular resort cities in America. But is buying an apartment in the United States a good investment? And why do experts recommend that investors buy a villa in Palm Beach and other Florida resort towns?
Cost and investment attractiveness of real estate in the USA
Real estate prices in the US are rising from year to year. In 2021, the cost of housing in all states increased by 10-12%, and in 2022 prices decreased but did not return to 2020 levels. The table shows the average price of houses in 10 states in 2022.
| State
|
Price in dollars
|
| Florida
|
241 thousand $ |
| Washington
|
339 thousand $ |
| California
|
509 thousand $ |
| Hawaii
|
617 thousand $ |
| New Jersey
|
335 thousand $ |
| New York
|
314 thousand $ |
| Arizona
|
223 thousand $ |
| Alaska
|
272 thousand $ |
| Maine
|
191 thousand $ |
| Virginia
|
273 thousand $ |
According to the forecasts of American economists, in the next 5 years, prices for villas, apartments, and townhouses in the United States will increase by another 8-10%. The price will increase the least in those states with high unemployment levels (New Jersey, Michigan, and Missouri). High growth in demand and real estate prices is expected on the west coast and in the easternmost state – sunny Florida.
Experts recommend purchasing housing for permanent residence or renting out in the resort towns of Florida – Miami, Miami Beach, Palm Beach, Hollywood, and Orlando. Property purchased for investment in Florida will generate a net annual income of 6-7% or more.
It should be noted that the number of floors determines the cost of apartments in Miami: with each floor, the cost of apartments increases by 10 thousand dollars. If an apartment on the first floor costs a million $, the same one on the twentieth floor costs 1.2 million $.
3 benefits of investing in real estate in Florida
Florida is the most attractive state for investors. It is advisable to invest in Florida real estate immediately for 3 reasons:
- Favorable climate, thanks to which pensioners and young people from other states move here to live;
- Stable price growth and high liquidity of apartments and villas (for example, in Tampa and Miami, from 2015 to 2022, housing has risen in price by a record 27%);
- There is a large selection of objects and no restrictions on purchasing real estate for foreigners.
Citizens of Ukraine, Belarus, Kazakhstan, Russia, and the CIS countries can buy real estate in Florida without a residence permit or a US visa. Both an individual and a legal entity can become the owner of an apartment, apartment, or villa.
What is better to buy: an apartment, a villa, or a townhouse?
In the resort cities of Florida, various real estate types are for sale: apartments, condominiums, apartments, townhouses, and villas. When choosing an object, you need to consider its price, location, layout, technical characteristics, and attractiveness for potential tenants.
It is also important to remember that townhouses and condominiums have areas that all residents jointly own. Therefore, in some high-rise and low-rise residential buildings in Florida, residents establish their own rules for living. For example, it is forbidden to live with pets in several condominiums, while others do not welcome the delivery of housing for daily and hourly rent.
You can choose an apartment or house in Florida right now
The official website Florida.Realestate presents offers from developers and real estate agencies for the sale of housing in all cities of Florida. Service specialists are ready to assist in the purchase of apartments, apartments, and villas in the United States. If necessary, they will provide detailed advice on investing in real estate in Florida.
