Expert claims Florida property is good long-term investment

Wed, 22 Aug 2007

Property investment in Florida is a good long-term option, according to an industry expert.

Paul McMullen, sales manager at property investment website Escapes2, said landlords with Floridian property in their investment portfolio could earn between £400 and £600 in rental income per week.

Renting out a property investment for between ten and 15 weeks annually could cover all their costs, according to Mr McMullen.

However, property investment in Florida is not an option for those hoping to get rich quick or people who plan to sell the investment in the near future, he added.

Florida is a "good long-term investment" thanks to the stability of the country and the climate.

Mr McMullen added that the current exchange rate means investment in the US property market is particularly favourable for British property buyers.

"The strength of the pound against the dollar is making [investment] strong at the moment," he said.

"Florida is a family place to go to and people go back year after year."

According to the Florida Association of Realtors, a typical single-family home in Florida sold for £243,200 in June.

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