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VACATION HOMES AS INVESTMENT PROPERTIES
Analyzing the second-home market in U.S. found that vacation homes have increasingly become more about returns on investment than personal recreation.
According to the HomeAway/Savills report, of the group of second-home owners who never expected to rent, 42 percent not only rent out their property today, but also cover the entire cost of the home through renting.
The market for renting vacation homes has grown nearly five times since 1999,” says McConnell. “There’s a realization that the best use for these assets has changed.
In rural northern Florida, smaller counties with just a handful of hotels have seen the beachfront home rental business boom.
A report by the state’s Department of Economic Opportunity found that in 32 rural counties last year, Airbnb hosts welcomed 125,000 guests, a 110 percent increase in business year over year that generated $24.7 million.
Investing in Central Florida
Orlando, Florida is consistently rated one of the most profitable cities in the nation for real estate investment experiencing a rapid economic growth thanks to a booming tourism industry, foreign investment, job creation, and an influx of new residents.
With an annual 4.4% job growth, Orlando is attracting new business and the next generation of young professionals, is the 16th fastest growing area metro in America and is the second-highest city in the nation for prospective job growth rate in the next 10 years.
Our Office
TBO Real Estate Partners, Inc.
6453 S. Orange Avenue, Suite #1
Orlando, FL 32809
To talk to an agent please call us or email us to:
tatiana@orlandopropertiesfl.com
phone #: 321-948-1632