Corporate foreign exchange news

Florida 'the one to watch' in US property market

Thursday, 29 July 2010 09:38:22 GMT

Published by Zeb Bham
Florida is the market to watch for investors looking to make a move into US real estate, according to Nubricks.com.
Adam Samuel, the director of the overseas property resource, said that there is a high degree of caution pervading the US property market, with sales volumes at a severely depressed level.
But while transactions are low, he explained that there are still a considerable number of investors keeping an eye on the market.
"Florida is the one to watch, but the broader market of the US is still going to take a long time to recover," he commented.
He added that the Sunshine State is seeing a comparatively high volume of sales, particularly from foreign buyers.
Whether buying outright or entering the market with a foreign property mortgage, Mr Samuel said that buyers are still having considerable difficulty chasing a return on US property.
His comments followed research by the Worldwide Property Group which showed that 65 per cent of people believe now is a good time to enter the foreign property market.
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