Florida remains attractive overseas property investment destination – aboutproperty.co.uk
Wednesday, 09 Jan 2008 09:53
Florida remains attractive investment Printer friendly version
Recommended... The American state of Florida remains an attractive overseas property investment destination.
That is according to Property-Abroad.com and comes despite fears of a slowing property market in wider America and concerns over the lingering effects of the subprime mortgage crisis.
However, optimism remains over the future direction of the Florida market.
"We've already noted an increase in enquiries for Florida, obviously due to the fact that the dollar's doing pretty badly against the pound sterling," said Les Calvert, director of Property-Abroad.com.
At present the dollar is trading at $1.96 to the pound, having previously fallen as high as $2.1 to the pound.
This weakening of the American currency has made investment more attractive, increasing the spending power in UK buyers.
New areas of Florida are also offering exciting destinations which have proved to be a further lure to investors.
"Orlando is still a very firm favourite with the British investor, but then you have got things on the Gulf coast as well which are starting to bring interest as somewhere different to Disney, like Naples and places like that," continued Mr Calvert.
The market, however, remains keenly focused on families looking for a holiday home overseas.
"Most of our enquiries are family and investor orientated. For the retired market, Florida doesn't seem to appeal, as they tend to be more close to the UK - i.e. Spain, France and Italy."
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