Corporate foreign exchange news

Desirable American property 'won't be around for long'

Thursday, 28 January 2010 09:12:46 GMT

Published by Jamie Jemmeson
Property investors considering entry into the US market have been advised that the best deals will not be available for long.
According to Mayfair International Realty's director Annette Reeve, British buyers are still keen on US real estate and are not fearful of further falls in the market, providing they have got hold of an ideal property.
"If there is a bit more [of a price fall] to come, it's probably not going to be massive. People have made a decision and they want to go for it. There is a lot of pent-up demand out there," she said.
Her comments followed the publication of the most recent Standard & Poor's/Case-Shiller Home Price Indices, which showed a 0.2 per cent decline in US house prices in November, the most recent month for which data is available.
Concluding, Reeve contrasted the continuing demand for US real estate with the situation in European hotspots such as France and Spain, where affordability has suffered dramatically for British buyers as the pound has languished against the euro on foreign exchange markets.
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