Florida is the US's only sub-tropical state and forms a 450-mile long peninsular off the southern states of Georgia and Alabama. The state population is approximately 16.7 million, and it is a fast-growing state.

The population increase is as a consequence of Florida's success in developing economically. Central Florida is one of the entertainment capitals of the world, while West Florida is a leading centre for many Fortune 500 finance companies operations centres. Migration to Florida is strong, with between 700 and 1000 people moving to the state every day.

The reason for this is not only the year-round temperate climate, but the the diversified economy, good amenities, expanding industrial base and the financial institutions based there make for a very vibrant local economy. With no individula state income tax and a 5.5% corporate income tax rate, this has also been a factor in the state's growth. Florida's proximity to the Caribbean and Latin America is a strong draw for international business too.

Despite all this migration, Florida keeps a tight rein on their land use, restricting unlimited development and protecting key areas. From the developer's point of view this makes development a demanding process, but it is also one that maintains standards in the area and ensures property values remain high. From the investor's point of view, the restrictions lead to increased demand, which helps drive capital growth.