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Florida 'offers Brit buyers value'

25th September 2012 | back to article listings BACK    print this article PRINT

Britons looking to buy a holiday home overseas can get the best value for money on properties in Orlando, Florida, according to a new report.

HSBC's first annual Overseas Property Report claimed that British buyers with an overseas budget of 125,000 can secure a four-bedroom home in Orlando, which includes a spacious garden and a private swimming pool.

Florida's property market has plummeted to its lowest level since 2006, enabling foreign buyers to snap up large homes for a fraction of their true worth.

British buyers appear to be in the most favourable position to secure a property overseas, with the pound-to-euro exchange rate rising by 5.7% since March.

That higher spending power could come in handy when buying homes in Cyprus or Portugal where taxes are low, although Spain's Costa Blanca offers the most space for money in Europe.

James Yerkess, HSBC's head of FX, said: "Orlando, for example, offers excellent purchase power right now, but European destinations vary and aspiring buyers who are more flexible on location should weigh up their options to secure the most space and best facilities for their money."

Copyright Press Association 2012

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