With property prices seemingly on the rise and rising quickly in Tampa, there is a lot of talk about a real estate bubble in the US and dire predictions that the so-called bubble could burst, leading to a lack of confidence on the part of investors and people seeking a second home. But while this talk of a bubble may be true in some parts of America, it isn’t justified in Florida, particularly in the Tampa Bay and Clearwater areas.
Florida as a whole is enjoying a rise in property prices which promises to be a long term trend. There are many reasons for this.
Demand for real estate in Florida is increasing. Homes are being bought for various reasons. Both American and European holiday makers view Florida as a premier summer holiday location and flock there each summer and historical evidence suggests that this figure is rising sharply and is having a major economic impact on the region according to VISIT FLORIDA research.
Historic Visitor Numbers (in Millions)
Year Total
1999 58.9
2000 72.8
2001 69.5
2002 73.9
2003 74.6
2004 79.7
Historic Economic Impact
Total Tourism...