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    Thread: Americas Property Market - Is it the cheapest?


    1. #1

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      Americas Property Market - Is it the cheapest?

      Property buying Brits are finding that their money goes furthest when buying bricks and mortar in Orlando, US. Here, £125,000 will buy you a four bedroom house, with a large garden and private pool. The same sum won't get you more than a studio apartment if buying in the Swiss Alps.
      HBSC Overseas Property Report reveals that since the bubble burst in 2006, Florida's property market has only just started to rise, which means foreign purchasers, assisted by a favourable exchange rate (US$1.57 to £1) and relatively low purchase taxes and fees, are finding bargains.
      The pound to euro exchange rate, having increased the most over the last six months, has also given sterling buyers with a £125,000 budget a generous boost totalling €8,563 more to spend. With property taxes lowest in Cyprus and Portugal, the higher purchasing power means both countries have received more interest recently. However, the location offering the most space for money in Europe is currently Costa Blanca in Spain, says HSBC.
      James Yerkess, HSBC Head of FX,, “There is a huge discrepancy in the size of property that UK buyers can purchase on the same budget in some of the most popular overseas locations for second homes. This is a combined result of foreign exchange rates, tax levels and the strength of the property market. 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.”

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    3. #2

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      Would love to if i could! so amazing cheap houses even when i was there in 2010
      Ktee likes this.

    4. #3

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      The problem is, yes you can get a home that cheaply, but would you really want a home in a rubbish area? Where English speaking is the minority, crime is high (remember most American's have guns!), schools are some of the worst in the entire USA! I am not quite sure where 'they' got the idea that closing costs were low, they would be around $10-15K (not including the deposit) on a house of that price, selling costs are a lot higher.

      I however agree you get more for your money than in the UK, my house in the UK is worth about £350K and is 2000sqft in a nice (ish) area. The house we rent here is worth about $350K and is 3500sqft and in one of the nicest suburbs of Orlando, sadly it doesn't have a pool. However the property tax here is a lot higher than in the UK, I believe it's around $5000K a year for our house (it's built into our rent). Also many homes have HOA's (Home Owners Association) and have to pay into that each month, ours is $125 per month. There are many other expenses too such as pest protection, lawn maintenance etc that you just don't have in the UK.