Currency exchange 'good for Brits' in Florida property market

Favourable currency exchange rates have been listed among reasons the US could prove to be a good option for Britons looking to move abroad.

The state Florida in particular was tipped as a property hotspot for Britons by the director of Winkworth International.

Charles Peerless said: "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 [Florida] for about half what they would have paid in 2005."

The report from Winkworth International claims that property in the Sunshine State will sell for as little as $47 a square foot in 2010.

With prices as low as this, the report predicts that sales should increase by around 20 per cent on last years figures.

Today (January 28th) the exchange rate between sterling and the dollar sits at around $1.625 to the pound; a dramatic improvement on the low of $1.40 seen in March 2009.

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Posted by Thomas Smith