According to the Orlando Sentinel website, local growth by far exceeds the rest of the Florida and even the American nation as a whole.
During a public meeting with local businessmen, economist Sean Snaith of the University of Central Florida, said the cities of Orlando, Kissimmee and Sanford are benefiting because of the growth of the population – which consequently heats the real estate of Florida – , tourism, urban improvements, and jobs being generated.
Snaith said the growth of tourism, once dominated by low-paying jobs, continues to outpace other industries in Central Florida. He also noted that after the double-digit increases in the values of homes in Orlando in 2012 and 2013, the pace slowed to single digits in 2014, maintaining the properties in Orlando and region to an affordable price.
According to recent statistics, it is estimated that one third of home sales in Orlando involve large investors who buy properties to rent, both season and long term. The development in Orange County attracts those who want to buy property close to Disney, since value will be greater increased with time.
The mayor of the county, Teresa Jacobs, said recently that the Orlando area has become “enviable” for the rest of the country in question of development, citing projects such as Dr. Phillips Arts Centre, SunRail, reform of the Citrus Bowl and International Drive. “Everywhere you turn, you see large investments in our community,” Jacobs said during the meeting with entrepreneurs.
The mayor also highlighted the tremendous growth of the labor market in the region – 3.7% in 2013, which means more than twice the national average. A story that points out that local development is the inclusion of Orlando in the list of New York Times top destinations worldwide to meet in 2015. That is, apparently even tourism is a major responsible for this local growth.
Interestingly, during the meeting, the audience also heard Ken Potrock, Disney, with the new brand campaign for the region. With the slogan “Orlando You do not know the half of it. “The idea is to demystify the idea that the city only offers parks attraction.
The region is “well known but misunderstood,” says Potrock. How many people are unaware that there is anything in Orlando besides tourism, a major goal of the campaign is to get people to look the city from another angle.
A 30-second commercial that shows taken from various parts of the city such as the Medical City, UCF university, SunRail, the Orlando International Airport, etc., was produced to be broadcast by NBC, ABC and ESPN. The initial reaction was extremely positive, according Potrock.
According to Ricardo Molina, CEO of Talent Realty, the region’s development only reflects positively in the Florida real estate market. “We are experiencing a very favorable moment with the sale of real estate in Orlando; I note that the city is really going through a transition. In addition to the constantly growing tourism, the city is attracting new residents, which in turn, is increasing the real estate supply, ” says the entrepreneur.