It’s just about still the greatest buyers’ market in recent US history, with property prices frequently 50 per cent less than in 2006, yet rising consistently now in areas such as Orlando and Miami. And the last time we looked, Disney World Florida still attracts more Brits that Disneyland Hong Kong (where property prices have not nosedived, either).
People buy property in America for many reasons, but you can divide them into two camps: those seeking the ease factor and those the excitement factor.
It’s easy to buy property in America because there are no restrictions on foreign ownership, we speak the same language, they have a well-regulated, easy to understand property market plus a sophisticated internet infrastructure (MLS) that lists every property for sale and every bit of data you could ever want to know about an area. There are plentiful flights throughout the year, wonderful roads and welcoming people. It’s just all very easy – especially if you can pay cash (mortgages are hard to get for non-Americans).
Culturally, for many British people America is far and away the most exciting place on the planet, with much of our entertainment industry coming from there and with every corner from New England to New Mexico, Oregon to Orlando having some sort of cultural resonance. It’s also a place where many British people would love to emigrate to “live the American dream” and make a lot of money.
Despite the barriers, many do. Every year around 3,000 new British emigrants register as permanent residents of California alone.
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