Community Overview
The real estate market in Orlando is experiencing robust growth, driven by factors such as population growth, urbanization, and favorable economic conditions. The demand for commercial properties remains strong, while property appreciation rates are exceeding the national average. These market trends present lucrative opportunities for real estate investors. Florida is in the top five destinations in the United States and Orlando is Florida’s number two destination according to the National Association of Realtors®. Orlando area saw its cumulative overall median price rise nearly 18% higher in 2022 from 2021.[1] For our global market, Orlando International Airport has service to 46 international destinations and 97 U.S. destinations. In 2023, Orlando International Airport experienced its busiest day in history, recording a total of 95,287 departing passengers on Saturday, March 11th, airport officials announced. In fact, since the start of the new year, Orlando International has logged eight of the 10 busiest days in airport history.[2] The State’s tax advantages are incentives for individuals and Businesses moving and investing in the market. The economic job growth outlook for Orlando is to outpace the national economy.[3]
Orlando' s tourism market has continued to show impressive gains and has fueled tremendous growth. Over 52 million visitors a year! One of the hottest tourist areas in Orlando is International Drive. The I-Drive area leads the next generation of the Orlando tourism boom. Orlando is home to six of the World's Greatest Theme Parks Disney World, SeaWorld, Discovery Cove, Aquatica SeaWorld' s Waterpark, Wet 'n Wild, Universal Studios and Islands of Adventure. In addition: 100+ Hotels and Resorts - with 42,000+ Hotel Rooms! 485+ Designer, Brand-Name and Outlet Stores! 150+ Spectacular Restaurants! 3 Entertainment Complexes and 3 Stadium-Style Movie Cinemas and the Nation's 2nd Largest Convention Center behind Las Vegas, Nevada.
Orlando is surrounded by several counties, one of which is Osceola County. In 2020, Forbes stated, “With young families and professionals increasingly priced out of the Orlando residential market, there is a place not far away poised for exponential growth.” That setting is Osceola County, just south of Orlando. The recent Osceola County Growth Update shows Osceola saw the biggest growth by a single county in Florida, and the nation’s 10th fastest growing population increasing 45% from 269,000 in 2010 to 390,341 in 2022 (US Census Bureau-2021) with median household income of $55,538.
Osceola has five areas designated as Opportunity Zones. One is NEOCITY, a Federally Designated Opportunity Zone 500 acre County-owned technology district. This campus will serve as a global center of advanced sensor development and research fabrication facilities and 100,000 square feet of Class A office space.
On the west end of Kissimmee construction is underway at Everest Place, a $3 billion Master Planned Community. The site is strategically located in the heart of Orlando’s tourist district, consisting of three different renowned global Hotel brands, Medical complex and office/retail commercial sites. The demand for multi-family units will also be high due to the site’s location and the growth in population and jobs. The cities of Kissimmee and St. Cloud, in Osceola County, boast great opportunities for multi-family and commercial development.
