Exchange rates 'could benefit British property investors in US'

Buy-to-let investors who are looking for a bargain may want to turn their focus towards the US, where the dollar is particularly weak, a property investment website claimed.

Adrian McDermott, managing director of Escapes2, said that a "historically high" exchange rate between the dollar and the pound could mean good deals for investors.

Those who want to buy a home that will bring in good rental yields may want to investigate Orlando, Florida, he suggested, as there is currently "a bit of an oversupply".

"The resales that we've got on our books, you can buy a four-bed detached villa with a pool for around the £150,000 mark," he said.

Additionally, he explained that many developers with too many brand-new properties on their books are having to offer "substantial discounts" to sell homes.

Mr McDermott remarked that travelling to Orlando to do the deal in person could benefit a landlord, saying: "If you're actually there on the day and you drive a hard bargain, because they need to sell these inventory stocks, they're often going 20 per cent off the list price."

He added that investors should act soon, as the current exchange rates may not last for long.

Walt Disney World Resort is located in Orlando.

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