Investing in property in the US has been described as a "winner". Real estate portal Property Abroad has claimed that current low prices in the country can "only go up over the terms of the investment".
The news comes after it was revealed that sales of existing homes in the US continued to be depressed last month with the total number of transactions down by 19 per cent compared to August 2009, according to the National Association of Realtors.
However, Les Calvert, director of the property website, said that there had been a marked increase in the numbers of individuals searching for property in Florida, with the region boasting a large number of distressed homes for sale
"If you are looking to buy a property in Florida as a holiday home and as an investment, it can only prove to be a double winner. You are getting a property for your holidays at a cheap price," he added.
- Friday 01 October 2010