UK property investors – which may include first time home buyers looking to invest for the first time – considering a move into the US property market, should opt for locations such as Florida and New York, an expert has claimed.
According to Paul Collins, a representative from BuyAssociation, Florida remains a popular holiday and investment destination for Britons, a location which may be attractive to first time home buyers looking to invest abroad.
New York was also identified as a potential holiday hotspot for British travellers to the US.
“There may be a rise in the number of visitors to the traditional holiday destinations, as people rush to take advantage of the favourable exchange rates,” said Mr Collins.
Presently, the dollar is trading at more than $2 against the pound.
“It is also worth keeping an eye on apartments in cities around the country, as good condos in metropolitan areas are often easier to rent out,” he added.
Other areas such as Phoenix and Las Vegas were also identified as potential investment locations.