Florida

With its balmy climate, wonderful ocean front and plethora of theme parks, Florida has long been a popular destination for British property buyers – even if the trail of destruction left by Hurricane Katrina in August 2005 deterred some would-be investors. The Sunshine State has had one of America’s fastest moving property markets, delivering double-digit annual capital gains for anyone who has bought in the last few years. As elsewhere in America, the boom appears to be ending - and may even turn to bust. The Florida marekt is helped by immigration from elsewhere in the US: the population grew by 400,000 in 2005, with many drawn by the booming economy. Ours went there to retire. Cape Coral-Ft. Myers was one of six Florida cities in the list of the top 10 best performing property markets during 2005. Prices in Orlando, Ocala, Tampa, Sarasota, and Daytona also grew by at least 28.5%. If you are buying for investment, check whether your property is in an area zoned for short or long term letting: some communities and counties allow two-week rentals, while others stipulate a minimum of four weeks or even six months.

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