British investors flock to Florida

It seems that the experts were right, whilst American nationals are struggling to come to terms with a very depressed housing market, European property investors, in particular the Brits, are starting to make hay while the sun shines. Primelocation’s latest international search data reveals that the USA recently broke into the top three most popular search destinations for the first time, accumulating 11.4% of all searches, nearly four times the 4.3% experienced in November 2006’. Florida in particular has attracted significant interest from UK buyers looking for a bargain investment. Foreign exchange specialists Moneycorp back up Primelocation’s findings by stating that there has been a recent surge in the number of dollar enquiries.

Steve Parnell, author of ‘Buying and Selling Property in Florida’ was quoted as saying, “recently news of America's nose-diving real estate industry and some troubles in the Florida market in particular might have some potential buyers frightened off. However, a closer look at the market and the facts shows that now is the ideal time to consider this subtropical paradise. In fact, based on figures from only a few years ago, British buyers can almost enjoy two homes for the price of one.”

David Giles, Director real estate agent Property Deals Florida, agrees, “Brits have certainly been enjoying their ‘two for the price of one’ dollar to the pound. The rate’s currently a favorable 2.01 USD per GBP, and as the American economy falters, overseas investors are now in the driving seat and able to negotiate substantial discounts. At Property Deals Florida we have many products, including the ultimate in Miami condo luxury at significantly discounted prices. We’re always able to use our reputation in the market to squeeze them even lower. The predicted gold rush across the Atlantic is now building serious momentum. Florida has always been an attractive location for lifestyle holiday-home purchasers, but combine that with a weak dollar and it has now become a hot ticket for serious property investors and should remain so throughout 2008.”

Whilst economists have predicted that the dollar will remain weak, history tells us that in a due course normality will certainly resume, whereby the rate of 1.60 or 1.70 $ US to the pound will become average again. It looks like any potential British investor needs to heed a simple message from Chris Towner, Senior Economist at HIFX - ‘Act now to make the most of the current rates.’

If you fancy a slice of the Sunshine State, what’s on the market?

ArTech, Aventura, Miami
ArTech is a contemporary masterpiece flanking 900ft of beachfront real estate in the trendy area of Aventura. Styled more like an aerodynamic vehicle rather than a building, the boomerang shaped construction embraces curvilinear lines and sloping contours. Beginning with an impressive quadruple height reception area, residents can avail themselves of 24-hour staffing, valet parking, wireless internet services and all of the shopping and schooling of Aventura on the doorstep.

Whilst on-site, owners can take advantage of a 177ft triangular infinity edge waterfront pool with whirlpool Spa and barbecue area, fully equipped fitness centre, yoga/dance studio, Turkish Bath, saunas, cinema, tennis and racquetball courts, billiards room, lobby café and private marina, to name but a selection. The private marina will accommodate 43 boat slips for yachts up to 70ft – slips are exclusively for residents and priced at 3,000 USD per linear foot. Owners also enjoy beach club membership to the nearby Le Méridien Sunny Isles Beach.

Covering nine storeys, ArTech offers a total of 232 Condominium Residences ranging from one bedroom one bathroom bachelor pads right up to grand three level penthouses with terraces and gardens surveying the local area. The properties themselves have floor-to-ceiling windows to absorb the stunning bay views, fully fitted and integrated designer kitchens and intelligent domestic electrics covering security and television connections. Individual touch screen monitors will access the internet and on-site services in an instant. Penthouses will also boast the ‘Penthouse Lifestyle Package’ including a personal home theatre comprising 5.1 digital surround sound and 42” high definition plasma television.

Prices start from 900,000 US.

1800 Club, Downtown, Miami
1800 Club is at the heart of the Performing Arts District of Downtown Miami. Comprising 469 units across 41 floors, with one, two and three bedroom apartments, 1800 Club has breathtaking cityscape views from each unit and also from the breezy pool decks complete with fitness centre, billiards room, bar and business centre.

Each 1800 Club residence has floor-to-ceiling glass affording spectacular views of Biscayne Bay and Downtown Miami as well as spacious balconies for a closer inspection. Kitchens are fully equipped including granite worktops and stainless double sinks whilst bathrooms afford Jacuzzi bathtubs and marble flooring.

Prices start from 300,000 US

For further property information, visit propertydealsflorida.com.