Tourism 'helping Florida property comeback'

Florida property is on its way back thanks to its continued growth in tourism, it has been stated.

Speaking to the Cay Compass National Association of Realtors presidents' liaison to the UK John Mike said: "The real estate market throughout Florida declined dramatically from mid 2005 to Spring 2008, with positive signs of stabilisation occurring in recent months."

This stabilisation may mean Florida is close to the bottom of the market, making it a good time to buy property in this part of the USA.

Rising tourism numbers in defiance of the global downturn are a reason for this, the paper suggests, noting that last year there was a two per cent rise in visitor numbers and a 4.7 per cent rise in spending.

South Florida may be particularly favoured for tourism at present because unlike some places it is still seeing an increase in the number of incoming flights, the South Florida Sun Sentinel reports.