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Florida 'a long-term investment'

21 September 2007
Overseas property buyers should view the Florida housing market as a long-term opportunity, according to one expert.

Terry Prickett, managing director of the Florida Property Group, said over the last year the number of Europeans buying property in the state has fallen.

According to Mr Prickett, the strength of the pound and euro against the dollar has helped to keep the market "more buoyant" than expected, but short-term opportunities are limited.

Recommending investors looking to make a "quick buck" look elsewhere, Mr Prickett argued that property buyers in Florida are unlikely to receive the kind of short-term returns seen in previous years.

"But if you're building up a portfolio or whatever, you're in it for the long term, I would advise to stay in there," he remarked.

The Florida Association of British Business states that there are currently 400,000 Britons living at least part of the year in the state.

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