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About United States (USA)

Those looking for a second home in the USA are typically drawn to those areas that most cater to foreign buyers looking for a home in the sun, and Florida is the state that tops the list. Florida has a great climate year round and rivals Spain for golf courses. Flights to Miami and Florida’s other international airports are competitively priced throughout the year, which is another plus, and its properties are much more spacious and much less expensive than in Europe. For example, a four-bedroom townhouse might start from around €170,000 and a villa with a pool from €215,000 in the Orlando area and the prices are similar on Florida’s Gulf Coast.

About United States (USA)

Capital: Washington DC
Currency: US Dollar
Language: English

The United States of America is a vast country with a spectacular diversity of landscapes and cultures. Those looking for a second home in the USA are typically drawn to those areas that most cater to foreign buyers looking for a home in the sun, and Florida is the state that tops the list. This is partly due to the fact that it is on the eastern seaboard, making for a shorter flight time from Europe, whereas California, also known for its sunshine, requires a much longer journey and has pitched itself more at the tourism market than the residential property market.

Florida has a great climate year round and rivals Spain for golf courses. Flights to Miami and Florida’s other international airports are competitively priced throughout the year, which is another plus, and its properties are much more spacious and much less expensive than in Europe. Whilst Florida has great appeal for retirees, it is also attractive to families, because of the number of entertainment centres available for children, including everything Disney.

Buying property here has been made as simple as possible and overseas buyers can also take advantage of the technology used by real estate businesses that include drone footage of the property and area plus ‘real time’ interactive videos that allow you to view a property without leaving your country. The buying process costs about 3% of the valuation, which is less than in many other countries. Living in the USA year round will require the fulfilment of very specific visa regulations, but staying in Florida for the winter months won’t present any problems at all.

USA economy

The U.S. economy grew by 1.6% in 2016, down from 2.6% growth in 2015 and the lowest level since 2011. The economic slowdown was mainly due to the slowdown in private consumption, private inventory investment, fixed investment, and government spending, but the world’s largest economy is expected to grow by 2.2% in 2017,and by 2.1% in 2018, according to the IMF.

The overall cost of living in Florida is slightly above the US average, but when you look at it in terms of property and utilities it is well below the national average. In fact, only groceries and transport are above the average cost in other states.

USA culture

There can’t be many people in the world who don’t know what to expect from American culture, although more is perhaps known about what to expect in New York and Los Angeles. Florida has a more laid back vibe than the northern states and Miami is something of a party capital thanks to its large Hispanic population from Cuba and those from Haiti. It has also positioned itself as a cultural hub, particularly for modern art and the annual Miami Art Basel is one of the biggest exhibitions in the world. Living here means having all the amenities of a first world country blended with the delightful flavours that its numerous immigrant communities have brought to Florida.

Location and price

After five years of strong house price growth, the US housing market remains strong. Demand is strengthening and residential construction activity is rising. Prices in Miami and Tampa rose by 6.79% and 8.33% respectively. On average across the whole country, prices rose by 12%.

The most popular places for European buyers are Orlando, which is close to the theme parks of Walt Disney World, SeaWorld Orlando, Disney-MGM and Universal Studios, and the Epcot Centre and where you’ll find numerous residential developments built just for the overseas market in Kissimmee and Davenport. For example, a four-bedroom townhouse might start from around €170,000 and a villa with a pool from €215,000.

The Gulf Coast, featuring Tampa, Naples and Sarasota on the sunny Gulf of Mexico is another favourite with foreign buyers. A one-bedroom apartment in this region can start from €85,000 and a two-bed from around €130,000 and €215,000 for a villa with pool. Around Tampa, the most popular residential areas are Palm Harbour, Dunedin, Clearwater and St Petersburg.

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Ref: FSBO-V-001

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Ref: HE-SH-R4445

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