55.1 million visitors frequent America's theme park capital as property sales surge in the area

New figures published by Visit Orlando have revealed that the popular destination attracted a record-breaking number of visitors during 2011. Just over 55 million people frequented America's theme park capital during the 12-month period, driving property sales in the area.

“In 2010 Orlando attracted 51.5 million visitors, knocking New York way into number two spot, and in 2011 was expected to top the 53 million mark. However, when the figures came in, the tally was even more astonishing,” Feltrim International managing director Adam Cornwell revealed.

Orlando set a new US travel destination record with visitor numbers rising by a further 7.2%, smashing the previous best. The real estate market on Florida has shown signs of recovery for some time and the latest demand for properties in the area is another indicator of the economy moving in the right direction.

“For us, as estate agents specializing in the second or holiday home market, these visitor figures are extremely positive. Yet, despite having a variety of new developments, single family homes, pre-tenanted condos and foreclosures in our portfolio, our challenge now is to find more good quality property to promote and sell,” Mr Cornwell continued.

The property shortage is set to gather pace as the number of foreclosures increase and supply falls. Foreign investors continue to take advantage of the situation by procuring huge quantities at lower prices in cash. This clears existing stock and creates demand for new builds and projects.

The Orlando Association of Realtors has revealed the inventory is down by over 30% compared to last year, though prices have increased by 13%. Developers are now scanning the area for places to build, with Orlando likely to enjoy another superb year as the US economy continues its recovery.