The number of homes for sale in South Florida has fallen by as much as 34% over the course of the last 12 months, according to new figures released this month. Property investment firm Colordarcy believes that this could be one of the reasons why property in Florida is attracting so much attention from the big funds.
Warren Buffet believes that single-family Florida homes are inexpensive, and now another big investment company has made the decision that since the homes are such excellent value right now they are going to invest as much as $150 million in 1,200 foreclosed and repossessed property in South Florida.
Colordarcy sees this as confirmation of their belief that property in Florida is one of the very best investments in the whole of the United States, despite the fact that we are only just beginning to witness the tentative signs of a state housing market recovery.
"Florida property is extremely attractive to investors right now," says the managing director of Colordarcy, Loxley McKenzie. "A combination of high rental yields, heavily discounted prices and a market that finally seems to be following a sustainable path towards recovery is what has drawn the attention of big investors this year."
The most recent funding group that has invested big in property in Florida is the Vulcan group, composed of Mexican investors who have no doubts as to why they have been keen to invest in property in the Sunshine State. Inaki Negrete, the chief executive officer of the group, says that they have been purchasing properties that were once priced at $200,000 for just $75,000, and then getting them ready within just six weeks to rent for $1,500 per month. McKenzie adds that in the long term, property in Florida is an extremely good bet.
