Keep a level head, investors told

Those investing in overseas properties in places such as Florida should remember that they need to act with common sense, it has been stated.

Speaking to the Daily Mail, chief executive of the Association of International Property Professionals Paul Owen said that while some parts of the market are currently low on confidence, "equally it can be a great time to buy".

However, he added: "People shouldn't lose their heads and forget the basic rules of safe buying abroad"

In a buyers' market consumers should be using their power to ensure they get protection from the seller, Mr Owen commented.

Among his recommendations were that buyers should get independent help and advice on the financial and legal elements of the transaction.

Florida property buyers looking at foreclosed homes were recently advised to employ an appraiser to check that the utilities work in any house they buy.

US property firm Findire.com said this should be done because there will be no seller who is under the obligation to ensure utilities are in working order.