Harry Potter may boost Orlando’s housing market

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by Kay Murchie

The housing market in Orlando has had a poor time lately. The boom days of 2005 and 2006 are gone when apartments were in demand by condo-converters and tenants were queuing up for property. But the recent general slump in the economy and the sub-prime loans crisis has noted the same developers putting their condos back into the rental market.

Following the huge success of the Harry Potter books and films, the Wizarding World of Harry Potter theme park is due to open in Orlando’s Universal Resort in 2009.

According to Jayson DeLeon, US and Caribbean Sales Director, MRI Overseas Property, the theme park is likely to attract tourists from all over the world and rental could be in demand. The exchange rate is good so buyers from overseas have the opportunity to bag a bargain and properties nearby the Harry Potter attraction are expected to see an increase.

Millions of tourists are expected to visit the theme park and see Hogwarts Castle, The Village of Hogsmeade and the Forbidden Forest. Mr DeLeon also commented that the Harry Potter theme park is set to cast a magic spell on the Florida housing market as the area strengthens its status as the leading destination in family fun.