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Winkworth says Florida's hot!
In a new report on the Florida property market, Winkworth International Developments says that the Sunshine State will be the top place for overseas buyers in 2010. They forecast that investor confidence will flow back into the US real estate market and house price declines will abate by early to mid 2010. New home sales should see an increase of around 20 per cent from the very low levels seen in 2009. Charles Peerless, Director, Winkworth International Developments comments, “Florida’s loss can be a UK buyer’s gain. With low prices on a wide range of top quality luxury homes and condominiums in world class developments, combined with a favourable exchange rate and low interest rates, buyers who seek sun, golf and wide ranging lifestyle attractions can now buy a home here for about half what they would have paid in 2005.”
“For international buyers, 2010 will be a great time to buy in Florida,” agreed Sean Snaith, economics professor and forecaster for the University of Central Florida in Orlando. “The imbalance of supply and demand puts the buyer in the driving seat. Large inventory, pricing power and the continuing weakness of the dollar when compared to other currencies mean awesome deals in the housing sector.”
The 2009 Florida Realtors’ Profile of International Homebuyers says that 14 per cent of foreign buyers in Florida bought a new build, while the remaining 86 per cent of foreign buyers bought an existing property.
To capitalise on this trend, Winkworth, already active in the International new homes market and they will launch a resale service for UK buyers.