Since the market crashed in 2008, land prices in Florida have fallen just as dramatically as house prices, dropping an average of 70% across the board, meaning investors can now buy a prime plot of land for $17, 000 – a mere snip, when it will have sold in the peak for upwards of $60,000.
Experienced at selling in the USA and, particularly Florida, for many years now, Knight Knox International has built up strong relationships with local developers and agents and has secured an exclusive deal in Manasota Bay, Charlotte County for 30 prime land plots in three home sites.
Each of the 7500ft plots have public water, sewers and paved roads already in place and are large enough to build a 1400sq ft home with a two-car garage. With no time-frame set in which to build on the land, and the yearly assessment and taxes only $350, these plots are an incredible investment opportunity for anyone wanting to expand their portfolio.
Only four miles from the Gulf of Mexico and forty one miles from Sarasota Airport, the plots are also within ten miles of 10 championship golf courses and close to a major sports complex and nature parks; the perfect location for anyone wanting a slice of everything the Gulf Coast has to offer.
“Buying land in Florida is considered a low risk/high return investment”, says Matthew Lavin, Senior Property Consultant at Knight Knox International. “Buyers wanting to capitalise on low market conditions can afford to buy land now and then build on it at a later date, ensuring their capital will always appreciate. In addition to this, whilst the Florida condo market is still a popular choice, investing in a land plot presents an alternative opportunity for investors to capitalise on present market conditions, without the additional responsibilities that come with property ownership”.
The real estate market in Florida has been heavily affected by the property crash, with banks no longer delivering mortgages against the value of the property. Buying a land plot is the ideal compromise as the prices are low enough that investors can pay cash for the land and then, even taking into account the cost of the build, they will still be paying less than if they had bought a new, smaller home.
Manasota Key on the gulf coast area in particular, is currently a prime location for anyone wanting to purchase a land plot, with a view to building a family home. Only 500m from an established community, on land that has already been earmarked for development, the area is an ideal choice for anyone wanting to build their own property.
In addition to investment opportunities in Florida, Knight Knox International also has a number of prime land plots in both Brazil and the Cayman Islands, that offer investors the opportunity to gain instant equity in a below market value product, in addition to the option of creating a tangible asset in the form of a lifestyle home.