Orlando and the Magic Real Estate Market
By: investUSA360 •
Orlando is undoubtedly one of America's hottest vacation destinations. But the magic isn't just found at the famous theme parks or the basketball arena. Orlando has a magic real estate market that's thrilling both local homeowners and newly arrived investors alike.
What's driving this thriving real estate market? Here are a few of the driving factors.
3 Key Factors Driving the Orlando Real Estate Market
Those seeking employment will have no problem finding it in Orlando! There are jobs in virtually every sector. This rapidly growing city needs workers. In fact, Orlando is the city in the most dire need of workers in the entire United States
When one thinks of Orlando, the mind naturally clicks over to the hospitality industry. While the large number of hotels, restaurants, and theme parks to need workers and are constantly hiring, think outside of that particular industry.
In addition to hospitality, Orlando has jobs for skilled professionals. As the population explodes, the medical centres and clinics need doctors, nurses, and healthcare workers. The number of school-aged children is climbing, forcing the schools to recruit teachers for every subject.
This bustling city has employers looking for engineers, pilots, financial planners, and other skilled, degreed workers across almost every industry.
New Business Sectors
What was once a vacation wonderland…well, still is a vacation wonderland. However, in addition to the amazing theme parks that dot the Orlando map, new industries are moving to central Florida. Orlando is the hub of this hot zone.
Some of the new industries that are investing in infrastructure in Orlando are universities, banks and financial companies, medical/scientific researchers, and other high-tech companies.
Construction and Trades
The rapid growth of Orlando has also brought about a huge demand for workers in the those skilled in construction and trades. You can’t drive but a short distance between job sites. This expanding job sector is employing thousands of men and women who are bringing home stout paychecks that give them disposable income for investing.
- Highway and Road Construction: Huge construction projects are underway on the roadways to help improve that enlarge the congested highways. This brings the need to fill jobs for not only labourers but also engineers and office support behind the scenes for the companies who are awarded these large road improvement contracts.
- Housing Construction is Booming: With new residents flocking to Orlando, the demand for housing continues to climb. Construction personnel from carpenters to architects to tradesmen are steadily employed and making great money.
- Commercial Construction Projects: Finally, the construction of multi-million dollar commercial spaces are underway, including a project set to launch in 2019. This project is the new home of the Orlando Magic basketball team. The concept is that of an all-in-one entertainment venue including a hotel, condominium units, event space, office space, and a shopping center. The massive undertaking will take several years and keep many skilled tradesmen employed for the immediate future.
How Do Those Factors Affect the Orlando Real Estate Market?
All those factors make massive contributions to Orlando’s real estate boom
- Wealthier Households: These new jobs are creating wealth in the community. People are gainfully employed and bring home steady paychecks. Unemployment rates are low, so anyone in the household can find work and contribute to filling the coffers. These lucrative and steady incomes allow lenders to offer better rates and terms when it’s time to purchase a home.
- Home Values Are Appreciating: The inventory of homes is getting lower. This means that when you purchase your new Orlando home, your home is likely to consistently rise in value over the foreseeable future. When it’s time to sell your home, you will likely make a very healthy profit.
- New Housing Communities: Real estate developers are scrambling to build new housing developments to accommodate all those workers who are immigrating to the area. Because of this, newcomers are easily able to find brand new homes that fulfill every item on their checklist. There are new home communities popping up in all different price ranges from affordable townhomes to neighbourhoods of million plus dollar executive homes.
Orlando Welcomes You!
With a deficit of workers, Orlando welcomes you! The lifestyle is casual, and the weather is sunny and warm. The culture of Orlando is one that affords you a great paycheck, the ability to buy your dream home, fantastic schools for the children, and more than its share of family-friendly entertainment. Welcome to Orlando.
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