Asian buyers look to take advantage of US distressed bargains

A growing number of Asian buyers are flocking to the Florida property market to take advantage of the distressed bargains available to them.

This is according to Gary Kenny, the chief executive of Florida-based property company CB Feltrim, who noted that buyers are still able to pick up great value homes in the popular state.

Speaking to Overseas Property Professional, Mr Kenny said that the underlying principles governing the region's real estate sector are still proving to be a draw for buyers.

He added that the booming markets in many Asian countries mean that domestic investors are looking elsewhere for bargains.

"The perception from talking to the buyers is that the buoyant market in Asian countries makes property there very expensive," he confirmed.

Buyers looking to take advantage of the distressed property bargains in Florida have been advised to take advantage of the services offered by specialist currency companies.

Paul Collins, editor at BuyAssociation, explained that using accredited organisations will help to protect investors from unexpected currency fluctuations, noting that they can have a "huge impact" on the cost of a home overseas.

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