As sub prime problems force American house prices into a cul-de-sac, the USA becomes the most popular destination for Brits to buy abroad outside Europe
Although some may think the crisis in the American housing market may have put off overseas investors and second home owners, the opposite is the case, as bargains may be achievable.
The latest Association of International Property Professionals (AIPP) statistics have shown that the US is still an attractive destination for property investment.
As well as being ranked the third most popular destination overall for Brits to buy property overseas in 2007, with 9.7% of British buyers purchasing in the United States, it is also now the most popular country outside of Europe for Brits looking to invest.
Across the pond, the National Association of Realtors (NAR) agree, finding that the US is still a popular choice of destination for those buying abroad with 26% of the 4,000 US agents surveyed in the period of May 2007 to May 2008 claiming to have dealt with international clients, half of whom purchased a property.
This healthy growth of interest from Britons in the US market has in part been aided by the strengthening of the Euro with many buyers taking the decision to buy outside of the Euro-zone.
Government incentives such as added extras for those considering buying in the Mississippi area affected by Hurricane Katrina in 2005, are also enticing home hungry Brits.
Danny Silver, Principal of Property Direct America , says, "It is this type of real estate investment that is not only regenerating a community but also proving popular with property investors who see that there is more to the US market than the luxury condominiums and vacation villas of Florida."
If you are considering buying in the USA, check out www.themovechannel.com/map/North_America/