International mortgage customers could find deals in the US

Tue, 09 Aug 2011
International mortgage customers may be wise to look towards the US market for property after it was claimed that some people are finding bargain homes across the water.

Houses in America could provide Brits with bargains, but Nubricks.com has warned that it could be some time before a full recovery of the market takes place and the long-term benefits of the investment are realised.

Director Adam Samuel explained that there are some Brits able to take advantage of the cut-price deals currently available.

"There is a rare breed of British investors who do have savings in broad parts of their funds already in dollars and those are the kinds of people who are actually investing in the US market because of the weaker dollar and the weak state of prices," he said.

Mr Samuel added that such people are actively looking for good deals, taking advantage of low-price property in the hope that the market will recover and they will make a profit.

Recent figures from Savills show that property prices have risen by seven per cent in New York since 2005, while Mumbai homes have increased in value by 154 per cent in the same period.
 
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