property abroad in florida experiencing increased interest
News Posted On: 23 April 2009
Increasing numbers of investors are opting to buy property in Florida, according to a new report.
A study by Housing Predictor found that the state is likely to be the first in the US to pull out of the downturn in the property market.
Condominium and home sales in the state coupled with a growing number of buyer enquiries have helped the state edge out of the slump before the other regions of the US.
Housing Predictor suggested the growing population of the Sunshine State could have contributed to the recovery in the market.
It noted that nearly two-thirds of the sales are of foreclosure properties or short sale homes, many of which are not counted by estate agents because they are sold at auction or by banks.
This led the organisation to comment: "Better times are on the horizon for housing markets troubled by the credit crisis".
In January and February this year, the Federal Housing Finance Agency said US home prices showed back-to-back monthly increases for the first time in two years.
Written by Matthew Bonner
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