Key West is both a place and a state of mind.
It lies about as far away as you can go in this USA, almost part of the tropics, some four hours and 150 miles south and west of Miami. You cross a lot of bridges and spectacular blue and green water to get there, and when you get there you’re only 90 miles from Cuba. Cruise ships consider a stop at Key West part of their Caribbean itineraries! The best way to describe Key West, is a vacation place. Meaning whenever you’re there, the ambience and atmosphere catches you up in it and you could well be somewhere in the Bahamas or the Caribbean.
The Key West Experience
If you’re thinking about an investment in Key West real estate, you may be onto something that few in the U.S., save a few Floridians appreciate and really understand. Key West is a vacation paradise, but at the same time, it’s also a terrific place for a second or even a primary residence. What makes Key West special: location, location, location! Being the southern-most city in the United States gives this island gem a few advantages over the rest of the contiguous states:
• A funky, yet upscale ambiance
• A laid back, almost artsy lifestyle
• Water sports in the crystal clear gulf
While the real estate crisis has hit the U.S. hard, prices in Key West, while lower, still have an advantage over the rest of the country. The rental market for vacation properties in Key West is robust and a vacation home can always be rented out (depending upon local ordinances) on a weekly, monthly and seasonal basis. This alone provides additional support for prices as well as a safety net against further price erosion. For this reason, investing in Key West real estate has had fewer downsides than investment in other regions of the U.S.
Whether you’re interested in living full time in the Florida Keys or just interested in Key West as an investment, the beauty and weather are weather makes it a winner. And coming to the Keys on a “vacation” to scope out opportunity is one heck of a relaxing way to do market research!
Key West Listings include Key West, Key Haven, Stock Island, Old Town, New Town, Truman Annex, Casa Marina, The Meadows and Sunset Key.