Florida is still a good investment for investors

May 17, 2007

Florida is still a good investment for investors

According to GE Money in an article published by MotgageSolutions Florida is still a good investment opportunity.

Property investors should not be put off buying in Florida despite lower house price inflation in the US recently, says GE Money Home Lending.

The specialist lender has seen Florida sales double in the year to date through its British Mortgages Abroad products when compared to last year. This bucks sentiments that investors are in fact moving away from this market.

“Clearly the US economy is going through change, with a slow down in house price inflation of 6.5 per cent across the country. However, Florida is still performing relatively strongly with house price inflation at 9.5 per cent,” Gerry Bell, head of marketing for British Mortgages Abroad, said.

GE Money Home Lending says many property investors have been warned off Florida recently by UK media articles talking of a falling market.
But the lender says Florida’s house price inflation, along with the current strength of sterling against the dollar potentially represents a good investment opportunity for those looking for a second home abroad and especially those seeking a longer-term investment opportunity.

“It would be unwise for investors looking to sell their property in Florida to do so at the time when the market is unsettled, unless they clearly needed to do so,” Bell says.

“Florida remains a solid option for long-term property investment.”