Florida is known for more than just its oranges. Living there will put you closer to Disney World! You’ll want to know how the Florida land sales market is doing if you are interested in purchasing Florida land. You may be in luck if you’re specifically interested in raw land. Florida is one of the most popular states for investing in raw land. However, there are rumors of an upcoming crash. Keep reading to find out what you need to know.
Why is Florida a Good Choice for Raw Land?
For starters, Florida has a lot of land available. But the real perk is that Florida ranks right in the middle regarding property taxes. That’s 0.89% compared to the 1%. Florida is also quite sunny and beautiful, so it’s no wonder that people are always looking for Florida land for sale.
Where Can You Get the Cheapest Land in Florida?
According to CompassLandUSA, the Florida counties consistently in the cheaper range are Highlands County, Putnam County, and Levy County. In 2021, you could get property for less than 15 grand per acre. Now in 2023, that rate has almost tripled due to the state of the economy and inflation. Even the cheaper areas are going up.
However, it is important to remember that land prices will vary based on many factors:
- Land Location
- Property Features
- Access to Amenities
- Natural Resources
These are only a few main points. There may be other factors in addition to these.
Is a Crashing Coming?
A crash is coming for residential real estate. This fact is especially true for Southwest Florida. Residential real estate is cooling, and it may impact the prices of land for the better. For example, Charlotte County is currently seeing an upward trend in development data. Why is that? The land is available and affordable.
To put things in simpler terms, since the economy is in a bad way and things like rent and mortgages are going up, land prices may be easier to swallow. Remember, we are experiencing inflation, and this is only when compared to the housing market. You’ll still have to shell out the cash for land.
It would be a good investment if you have the resources to purchase Florida land. After all, as long as the land remains in good condition, the value doesn’t go down. Selling Florida land could save you from a bind in the current economy.
