Osceola County, in central Florida, is one of the fastest growing regions in the US for the luxury second home segment. It is in Osceola that the city of Kissimmee is located, one of the most desired for those looking to invest in vacation homes (Vacation Homes).
Osceola ranked second in the ranking released by Pacaso, a platform that helps people buy and co-own a second luxury home. To determine the top US markets, Pacaso analyzed the amount of financing (mortgage) requested for second homes priced at $1 million or more in different US markets. The index reveals buying activity in the region.
Osceola County grew 6.1% according to the data analyzed and was second only to Washington County, in the state of Utah.
Despite the slowdown in the real estate market this year, due to the high interest rates imposed by the US Central Bank (FED), the segment of luxury second homes remains with potential. Florida, in this scenario, is one of the global markets that most resists and is most desired by investors.
Luxury buyer behavior is different
The growth of purchases in the luxury segment, even in periods of market downturn, is nothing new. This public is less sensitive to interest rates and is not willing to wait for the perfect situation to buy.
It is different from the so-called “first-time home buyer” or the regular buyer who, faced with higher interest rates, find themselves in situations that are often prohibitive, limited by their budget.
Furthermore, Florida still offers considerably attractive average prices, even after successive year-to-year appreciations. It is the low average price and the high potential for appreciation that make the destination one of the most desired by investors from other US states and also from other countries.
Residents of New York and California, where the price per square foot is very high, are selling their homes in their home states and buying larger homes in Florida for the same price.
About AMG International Realty
AMG International Realty is a global real estate specialist in Florida. If you want to learn more about real estate opportunities in Orlando and Miami, get in touch right now and chat with me via WhatsApp: +1 305 318 6968 (Heloisa Arazi).