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Investors covet US 'colossus'

Jaimie Kanwar

An expert has lavished praise on the investment potential of a popular US State...

According to Kate Pernacchio, International Real Estate Marketing Director of Imoinvest International, Florida is popular with investors because of the robust increase in property prices over the past few years, combined with a shortage of certain types of rental accommodation.

She explained: “The current position in the UK housing investment market is in sharp contrast to the robust performance being achieved in parts of the USA. With the dollar strengthening in the last few months, investment property in the US and in particular in Florida, is proving a good hedge against the Pound”.

“Prices are steady and rental demand high. Recent low budget airlines now have flights from London Gatwick to Fort Lauderdale for as little as £299, making this part of the States very cheap to reach.  Florida is also witnessing a colossal increase in European tourists lured by the attractive exchange rate.”

Miami 'diversifying'

Ms Pernacchio continued: ”With the euro reaching a record high exchange rate, rising as high as 1.5144 EUR against the US dollar, this is proving very good news for Buy to Let investors seeking affordable property in the USA. It allows buyers to tap into a growing demand for rental homes from many US citizens unable to enter the property ladder.

“My personal Florida pick would be Miami, which is an exciting destination for tourists and business people alike. Its diversity into a cultural centre has increased its appeal and buying into a US market at this time should prove financially rewarding”.