Well known for its many amusement parks like Disney World
and Universal, Orlando also has other assets less tourist and equally
attractive: beautiful lakes and green parks, many residential neighborhoods,
renowned schools and universities, international business locations , modern
shopping centers ... and a real estate interest!
Orlando is currently a growing city that is diversifying as
it grows. Young and dynamic, the city has created nearly 100,000 jobs and
welcomes more than 60,000 people every year in its urban area. Orlando seems to
be the city of tomorrow where you have to invest now! So, the question is:
which neighborhood in Orlando should I buy?
According to a recent survey by Forbes magazine, Orlando is
ranked 3 the position of the US cities where we should invest in residential
real estate, after Dallas and Jacksonville. Orlando benefits from good economic
indicators and employment is growing strongly. This Central Florida city is
attracting more and more buyers of primary or secondary residences attracted by
its quality of life, its dynamism and its climate and for more information please use this guide
A very large city
with multiple neighborhoods
"The City Beautiful" or "O-Town", as
many call it, is a sprawling city of 115 neighborhoods with more than 260,000
inhabitants. In other words, we will not be able to tour all neighborhoods in
this article!
The heart of the city lies in its historic center called
"Old Orlando" or "Downtown Orlando", between Orange Avenue
and Garland Avenue. In the city center is the business district with its many
skyscrapers. Many residential neighborhoods have grafted into the periphery
over time such as "Lake Eola", "Thornton Park" or
"Baldwin Park”.
Here is a little overview of the most famous or most
attractive neighborhoods, and probably the most interesting for a real estate
investment.
The city center
Downtown Orlando: a
dynamic and practical neighborhood
Downtown Orlando is relatively small on the surface. It is
home to the Central Business District, which includes the offices of major
corporations such as Bank of America, Darden, Coca-Cola and Oracle, streets
with many shops and restaurants, but also theaters. Art galleries or sports
complexes. Those who love nature will not be left out with Lake Eola and its
park located in the center of the neighborhood, popular with locals on weekends
for sports or picnicking. This rather varied district may be suitable for young
dynamic executives working in the area, as well as for families who love urban
life. Investors can find essentially beautiful residences or quality condos. As
in many city centers,
North
College Park: a quiet
residential area
Located just north of Downtown, College Park is a beautiful
neighborhood with ancient architecture, alive, relaxing and safe. It also has
several lakes and parks with trees that promote walks and sports of all kinds,
a small town center with cafes, restaurants and shops that can have a pleasant
urban life. College Park offers mainly Florida style houses also called
"bungalows", more or less luxurious at fairly high prices, because
the neighborhood has undeniable qualities of life and therefore becomes more
popular.
Ivanhoe Village: the
name alone deserves a stop!
Ivanhoe Village is a small neighborhood nestled along Orange
Avenue just east of College Park. It also has a lake, the aptly named
"Ivanhoe Lake" and green areas. The city is famous for its art
galleries, antique shops, kitsch shops, cultural events such as the "First
Frida" (musicians playing in the streets). It's a trendy, eccentric,
somewhat "old fashion" neighborhood that some say would hide the most
unusual places in Orlando! Many buildings display a small Art Deco side with
curves and rainbow colors. The neighborhood offers mostly newer or more recent
homes at identical prices to neighboring College Park or Lock Haven.
Loch Haven Park: a
picturesque and cultural district
Loch Haven Park is a small picturesque neighborhood east of
College Park. It is a major cultural center on Florida that houses nothing less
than the "Orlando Science Center", the "Loch Haven Community
Center", the "Orlando Museum of Art", the "Mennello Museum
of American Art" and scenes shows such as Orlando Shakespeare Theater or
Orlando Repertory Theater. It also hosts many events every year, such as the
Antique Fair, the Orlando International Fringe Theater Festival or the VegFest.
Investors can find mainly homes with relatively attractive prices, but it's a
safe bet that they will increase when those who love art recognize the cultural
significance of "Loch Haven" for the city of Orlando.
Winter Park: a quiet
and green environment
Winter Park is a vast neighborhood with multiple lakes that
is one of the most beautiful and richest in the region. Former resort of a
wealthy clientele from the north by the train in the early twentieth century,
the city has kept a certain charm bourgeois. Paved streets, avenues lined with
old majestic oaks, old houses, abundant vegetation, the district is a haven of
peace, but which does not forget to propose also shops of deco, gourmet
restaurants and bars with terraces for outings with friends. These roots have
spawned a thriving cultural life including the Charles Hosner Museum of
American Art, the Ezian Theater or Rollins College with its chapel which
regularly offers classical music concerts. Investors can find mainly old or
more modern houses, and some elegant condos. Winter Park is a quiet and
discreet village that jealously guard its riches, real estate prices are in
relation, very high.
To the East
Lake Eola: a
neighborhood between city and countryside
Located just off Downtown, Lake Eola Heights and Lake Eola
South are apparently the most attractive neighborhoods in Orlando. Here, you
can have the best of both worlds, live around a lake or a golf course and enjoy
the nearby city center. The recent arrival of companies in the technology and
science sector, the University Of Central Florida School Of Medicine, a veteran’s
hospital, has helped to energize the neighborhood and provide opportunities for
growth. Important jobs. It attracts today a rather eclectic population with
various incomes because you can find there at the same time apartments, condos,
old houses and other recent more luxurious. Prices are currently still
affordable, but they are likely to increase as the neighborhood evolves.
Thornton Park: A
Historic Residential District
East of Eola Park and Downtown, Thornton Park is one of
Orlando's historic neighborhoods and arguably one of the most charming. It
offers all the advantages of a city with small shops, restaurants, theaters,
and as a bonus a small side "campaign". On the second Thursday of each
month, the neighborhood takes on a popular festive atmosphere with the
"Wine & Art Walk" where local artists exhibit their work on
trestles on the sidewalks. The shopping district extends along Washington
Street, Summerlin Avenue and Central Boulevard and can easily be walked, which
is not so common in the United States! Paved streets, houses with neoclassical
architecture, large residences (It also includes the oldest houses of the city
dating from the early twentieth century), the neighborhood is chic and very elegant,
but he has kept a friendly atmosphere and it is good to live. Yoga and Tai Chi
are practiced outdoors around the lakes and in the parks, and a farmer's market
takes place there every Sunday. Given all these qualities, the price of real
estate is obviously rather high.
Orlando continues inexorably its evolution and expansion.
The city has become the number one tourist destination in the US with more than
66 million visitors a year. Thanks to the installation of many companies new
jobs are created every year and the population increases by 2.33% per year since 2010.
Orlando does not have the image and festive reputation of
Miami, but, property prices are not those of Miami, the rates of return are
often higher and less fluctuating.
Investing in the city of Orlando is a real estate investment
in a stable city where the economic dynamic is strong and where the presence of
amusement parks acts as an accelerator of growth.
According to economists, Orlando
will become the next Los Angeles or New York by 2030.
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