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Posted On: 03/07/2009
American Property En Vogue as Buyers Bag a BargainAmerican property has picked up in popularity in the last 2-4 months, according to Azure Overseas. The overseas property specialist cited a combination of the extreme price falls American property has seen, the Pound strengthening against the Dollar, and reports that the American market may be close to bottoming out, as explaining the increasing popularity of American property.
"There's no doubt that now is the time to buy American property, especially in Florida, and plenty of people are out there looking for a bargain," said Frank Crowley, Azure director.
"Prices are at an all time low right now in real terms, and there are thousands of foreclosed properties at well below their market value. Add to that the strengthening Pound along with reports that the American property market may be nearing bottom and you have a kind of perfect storm in terms of American property purchases," he explained.
"Florida is particularly popular, not least because there are a high volume of foreclosure properties on that market, and because it is still many people's dream holiday destination. We have condos in Fort Lauderdale for under £50k. Property in Florida is currently affordable to the masses, and that is an opportunity that many are unwilling to pass up," he said.
A big strength of buying American property is the fact that America has a massively developed internal housing market. Whereas the likes of a place like Germany has a renter culture, American's are all about the buying, well, it is the American dream (white picket fences). This means that the investors of today have a very reliable exit strategy.
Azure Overseas is currently marketing Florida property for sale priced from under £50k, and other properties in America.
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