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Exchange rate creates "fantastic" investment opportunities

17 July 2007
The favourable exchange rate of the pound against the dollar is creating a "fantastic" environment for investing in US property, according to an expert.

According to the overseas property editor at advice website BuyAssociation, Paul Collins, now is the perfect time for buying in the States.

"It's a very good time, to be honest," he said, explaining that a downturn in the US property market means short-term potential is limited.

"But if you're looking to buy a holiday home or if you're looking at a medium to long-term investment, then it's absolutely brilliant," Mr Collins commented.

The slowdown in the market also means that developers will offer some "really good deals".

And the current exchange rate means that properties in the US seem cheaper than they did before, he added.

Areas of interests identified by Mr Collins include New York City, Manhatten, New York State and New England, for its "picture postcard" allure.

Another emerging hotspot includes Phoenix for its golf, while Florida remains "the place that people are going for".

This morning, Forbes reported that the pound has reached a new 26-year high against the US currency.

Find out more about Florida property

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