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Turning point for US property market
28/02/2008
Brits are flocking to buy US property despite fears of an imminent recession…
According to research carried out by a Place in the Sun at a Birmingham Roadshow Late January, the increase in popularity has been quite staggering. In their annual top-twenty property destinations, based on where road show attendees are planning or would like to buy their place in the sun, the U.S. climbed from tenth position in 2007, up to fourth position this year.
This is because as the U.S. economy suffers, Brits are getting more dollars to their pound, and combined with U.S. property prices falling, U.K. investors can get excellent value for money in their U.S. property.
Experts are predicting that 2008 will be a turning point for the U.S. property market, and it will finally begin to recover after a three year decline. When overseas property became en vogue, it stood to reason that the U.S. would be one of the favourites.
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