Central Florida's Apartment Investment Engine in Low Gear

TAMPA, FL-As most real estate investors know by now, it’s a seller’s market out there and it isn’t expected to get any better soon, in Central Florida at least, concludes new 12-month research by the regional office of San Francisco-based Marcus & Millichap. The study takes in the first quarter of this year.

Higher than average rents and sales prices are turning off buyers for the short run but may interest investors with a longer horizon, the study finds.

South Hillsborough County, south of Tampa and the Pasco/Hernando County submarket north of the city outranked all Tampa and Orlando area submarkets as possible “buys’ in a first half that produced few trophy properties for sale in 27 Central Florida submarkets. Tampa is 80 miles west of Downtown Orlando.