I´ve always been struck by how busy Orlando is. Visit any time of year and spend your days visiting shops, restaurants, bars, golf courses and theme parks and you´ll find absolutely no signs of a recession.
In Orlando, everything is packed and everything is buzzing all your round - it is by far the most visited city in the USA. New York, Las Vegas and Los Angeles don´t even get a look in.
This is a city with a modest population of 2.2 million which attracts 50 million visitors per year - that´s almost 1 million per week! To put that number into perspective, Spain (population 46m) attracted 56 million tourists in 2011.
I love the evenings in Orlando - my favorite eaterys are Maggianos, Capital Grill and Bahama Breeze. There is a ridiculously good choice of restaurants to choose from in this town, although you´ll need to book well in advance for the best ones.
Of course, it isn´t just the tourists who are keeping the Orlando economy purring along. It is an extremely diverse economy and home to a whole range of industries. More to the point, the level of property transactions in Orlando in the past three years has been nothing short of extraordinary.
The number of existing homes available for purchase in Orlando is officially in free fall. Whereas there were 22,613 homes for sale in January 2009, there were 8,666 as of March 2012. Think about it - 50 million tourists and less than 9,000 homes for sale! That number equates to a 3.72-month supply of homes, well below the six months supply considered "a healthy balance" and a level not seen since the red hot housing market in December 2005.
These figures also seem to be accelerating. In February 2012, total inventory was 31.36 percent less than it was in February 2011. There can be little doubt that the Orlando housing market has turned a corner - the best opportunities are snapped up as soon as they appear. There have been numerous occasions in the last 12 months when we were about to launch a new project only to find that a high net worth buyer got there before us and reserved the lot.
Six months ago we promoted a resort near Disney in Orlando called Sun Lake. Within a couple of weeks, all 27 units were sold to a wide range of American and international buyers. Last Friday afternoon, we got a call informing us that 16 new units were available from a completely separate buyer and we rushed to secure them. Please read on for full details...
New Units: Sun Lake, Orlando Florida
Sun Lake is located in the epicentre of the tourism business in Orlando - right off the 192, two miles from Walt Disney World and adjacent to the Formosa Gardens Shopping complex. This is quite simply the most convenient location possible for both tourists and people working in the tourist industry.
Before going into the details, let me illustrate just how good this location is.
Look at the map opposite: the grey shaded area is Disney World. The red marker is the Sun Lake Resort. Click map to enlarge.
Despite the fabulous location, this is a secluded resort with beautiful lake views surrounded by privately owned, high end vacation condos and pool home communities.
Originally completed in 2004, the community comprises just 112 spacious two and three bedroom units spread across 11 buildings.
A low density community with less than 200 units in a top location puts it right smack in the middle of my comfort zone.
Better still, these are huge and fully furnished apartments ranging in size from 1250 - 1650 sq ft and in price from a jaw dropping $79,100 - $94,100.
Prices for these units peaked in late 2007 at $250,000 per unit, which means they are currently available for 30-35 cents on the dollar - i.e. a third of their former value! I don´t think I´ve never seen these kinds of prices in a spacious condo in a premium location.
- Incredibly spacious: 1250 - 1650 sq ft
- Air conditioned
- Washer / Dryer
- Screened patios
- Lake or conservation area views
- Ample free parking
On site facilities include:
- Heated swimming pool
- Large Jacuzzi
- Lighted tennis courts
- Club house with fitness center & pool table
Aside from having a premier location adjacent to Disney World, the location of Sun Lake provides easy access to all major central Florida attractions including Sea World, Aquatica, Universal Studios, Islands of Adventure, Busch Gardens, Kennedy Space Center, Lego Land and a host of major golf resorts and shopping malls.
Walking vs Driving in Orlando
The most fundamental reason to purchase in the Sun Lake Resort is its proximity to shops, supermarkets and restaurants.
While many developers will include a small shop or bar in a resort located several miles from the nearest retail outlet, Sun Lake is literally a 1 minute walk to the Formosa Gardens Shopping complex.
Residents and vacationers can choose from a host of household names such as TGI Fridays, Outback Steakhouse, Subway, Cracker Barrel, Carrabba´s Grill & Red Lobster.
A total of 12 different Italian, Chinese, Japanese, American and Mexican restaurants are on your doorstep. Also available is a Wynn Dixie Supermarket, clothes and souvenir shops and a 36 hole crazy golf course.
It takes a certain type of determination (or naivety) to be a pedestrian in suburban Orlando - a simple 5 minute drive could easily equate to a complicated 25 minute walk in the baking heat. I´ve driven past more than a few flustered looking couples clutching kids and Mickey Mouse balloons at busy intersections.
In most countries, having shops, restaurants and supermarkets within walking distance of an apartment is no big deal. It is definitely a big deal in Orlando - which is the unique selling point of Sun Lake.
With all of these shopping, dining, socialising amenities around the corner plus regular shuttle services to Disney World, I can assure you that many tourists and second home owners will choose to enjoy their time in Orlando without the usual hassle and expense of driving a car.
We have compiled a 18 page brochure on Sun Lake which includes:
- Development summary & history
- Area description
- Site map & availability list
- Resort Amenities & Property Features
- Photos & Floorplans
- Running costs
If you would like to receive this today please click here or the download button opposite.
The best units will be allocated to buyers by telephone on a first come first serve basis.