Cheap Floridian property

Whilst American nationals are struggling to come to terms with a very depressed housing market, European property investors, in particular the British, are taking advantage of bargains in Florida.

Primelocation's latest international search data reveals that the USA has broken into the top three most popular search destinations for the first time, accumulating 11.4% of all searches, nearly four times the 4.3% experienced in November 2006.

Florida in particular has attracted significant interest from UK buyers looking for a bargain investment. Foreign exchange specialists Moneycorp back up Primelocation's findings by stating that there has been a surge in the number of dollar enquiries.

'Recently news of America's nose-diving real estate industry and some troubles in the Florida market in particular might have some potential buyers frightened off. However, a closer look at the market and the facts shows that now is the ideal time to consider this subtropical paradise. In fact, based on figures from only a few years ago, British buyers can almost enjoy two homes for the price of one,' said Steve Parnell, author of 'Buying and Selling Property in Florida.

David Giles, Director real estate agent Property Deals Florida, agrees; 'Rates are very favourable and as the American economy falters, overseas investors are now in the driving seat and able to negotiate substantial discounts,' he said.

So the predicted gold rush across the Atlantic is now building serious momentum. Florida has always been an attractive location for lifestyle holiday-home purchasers, but combine that with a weak dollar and it has now become a hot ticket for serious property investors and should remain so throughout 2008.

People may even be able to afford a Florida mansion for the price of a three-bed semi in the UK, Nick Marr, chief executive officer of Homesgofast.com, commented.

'If you had it in your mind to retire in Florida at this stage, you would be thankful for what's going on,' Mr Marr added. 'Before, if you had, say, £200,000, you could get a nice place. Now you would get a superb place.'

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