Florida is famous for its magnificent beaches, eclectic culinary scene, and Spanish and Mediterranean architecture. Florida’s low unemployment rates and lack of income taxes bring people and businesses to the state. This makes it a great place to own rental real estate as your renters will be employed, around for a long time, and able to pay rent. 

Tourism is a major industry in Florida, and this means that temporary rental properties are always in demand. If you rent out your property through a home-sharing service, you will not have to worry about a lease and you may even make more money than you would with a traditional tenant.

There are some fantastic properties in the Sunshine State and there are many prime vacation spots here. There are a few locations that are the best places to own a luxury condo in Florida.

Orlando

Orlando’s proximity to Disney World and the relatively low property cost, make it the perfect place to buy a luxury condo. Hotels in the area are very expensive, so if you come here frequently, a vacation home can be a cost-effective investment. You can rent out the condo to other travelers when you are not there or go through a home-sharing service.  

 Top Locations in Florida to Own a Luxury Condo

Boca Grande

Located on Gasparilla Island, Boca Grande is a popular retirement spot. Most of the citizens drive golf carts rather than cars. There are no traffic lights and there are many beautiful beaches on the island. It is a quiet and peaceful place to retire and a popular place to golf.

Boca Grande is not a place for the light of wallet. Property values have steadily risen over the years, so it is a good option for those who can afford it. Prices are expected to fall 1.5 percent in the next year, so it may be the ideal time to make a purchase. 

Naples

This breathtaking beach community is one of the wealthiest cities in the country, with the second-highest number of millionaires per capita. It is close to the Everglades and Ten Thousand Island making it a popular vacation destination. 

Investing in real estate in  Naples is lucrative because the property values have been steadily climbing over the years. However, Florida is more popular with vacationers in the winter and it can be hard to find renters in the summer months.

 Top Locations in Florida to Own a Luxury Condo

Sunny Isles

Located on a barrier island it is in between the Atlantic Ocean and the Intercostal Waterway, Sunny Isles is known for its many resort hotels and luxury condos. It has a beach that is two miles long and offers many different kinds of water sports. 

Sunny Isles condos are an excellent investment for anyone who is looking to rent out a home on a temporary or long term basis. The island has a resort feel and it is located near the city of Miami. It is near Collins Avenue which is famous for its high-end shops, fine dining, and classic hotels.

Owning a luxury condo in Florida can be profitable. The right real estate agent will be able to find you the perfect home or property in which to invest.

source – https://www.biggerpockets.com/forums/850/topics/696497-first-investment-property-at-naples-florida

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