Brits investing in the US

Evidence is emerging that British property investors are increasingly taking advantage of bargain prices in the US.

Real estate agents, especially in Florida, are reporting more inquiries than ever from the UK. Investors want to buy property that they can use as a holiday home and then rent out for the rest of the year.

Nearly one in three US real estate agents report working with customers from other countries, and almost half of those worked with three or more international clients some with more than 10, according to the National Association of Realtors.

'With the sinking dollar the trend has become stronger as foreigners, especially Brits, try to take advantage of sagging prices, especially in Florida and California, the states they find most desirable,' a spokesman said.

Enquiries across the US are more than 40% up on last year according to RightmoveOverseas.

'The general public is seeing that now is a good time to buy in the US. One reason is because the dollar against the pound is almost two to one, and the other thing is that there has definitely been a correction of prices in the US,' said Carlo Walther, head of business development.

'In some areas, Florida being one of them, prices have come down by almost 30%. So people are saying that it's almost a double-whammy, if you like. Now is the time to buy, and we are seeing that from activity on the site.'

In Florida, a popular overseas investment hotspot for Brits, it is Orlando which remains the frontrunner. 'The theme parks in Florida are the most visited attraction in the US, and so a lot of buyers are looking for both a holiday home but are also looking to rent that property out when they're not using it. So yes, the obvious place for that is the Orlando area,' added Mr Walther.

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