America is the number one destination for UK residents to buy property outside of the EU. Whether it be for investment or lifestyle, there is no shortage of property types or locations to consider, regardless of the size of budget.
Widely known as the “Sunshine State”, Florida tends to appeal to British buyers more than any other region of the US. It receives almost 100 million visitors each year, which means areas are constantly being renovated and updated to meet demand.
Cities within Florida, such as Orlando and Miami, are tourist driven areas that entice the masses thanks to their tropical climate and famous attractions. Disneyworld in Orlando sees over 17 million visitors per annum. Other notable attractions, including various water parks, golf courses and miles of golden beaches, make it a hotbed for rental demand all year round.
For those who prefer a different sort of lifestyle, there are many other property hotspots within the USA to choose from. Cosmopolitan cities such as New York and California, although generally experience higher property prices, are popular with the British audience due to a wide range of employment opportunities and their unique style of living. Those looking on the investment side will also benefit greatly from capital growth in these sorts of areas.
Looking at the property market, the USA has gone from strength to strength. Investment is strong with new transport links and advanced developments playing a part in its recovery from the economic crisis. Rising house prices and occupancy levels have brought great confidence back into the market which has attracted the interest of overseas buyers. Moreover foreign ownership doesn’t generally have too many restrictions in the USA, and there’s the added advantage of having the same first language as most British residents. The property buying process is also relatively straight forward.