US sees upsurge in buyers as property gets cheaper

The US is attracting more British buyers as the cost of buying a property there falls, it has been stated.

Research by money exchange company Currency Index has found that the country is growing in popularity, something the firm has attributed to falling prices, less expensive mortgages due to base rate cuts and the strengthening pound.

Commenting on the development in the US and in other countries, spokesman at the firm Robin Hayes said: "We are seeing a renewed demand for currency exchange as people pick up property bargains," noting that Florida is among these buyer destinations.

People buying property in Florida and elsewhere may find that the present time is a good one in which to buy, chief executive of the Association of International Property Professionals Paul Owen told the Daily Mail recently.

However, he warned, people seeking bargains should not ignore "the basic rules of safe buying abroad", advising that buyers should get independent advice on the financial and legal issues involved.