Released on = April 25, 2007, 10:56 am

Press Release Author = Jimwatson

Industry = Real Estate

Press Release Summary = Earlier this month, it was revealed that inflation rose to
over three per cent in March, reaching its highest level since the current method of
measurement - the consumer price index - was introduced in 1997. Market analysts are
now predicting an increase in the base rate of interest following the next meeting
of the Bank of England\'s monetary policy committee in May.


Press Release Body = Earlier this month, it was revealed that inflation rose to over
three per cent in March, reaching its highest level since the current method of
measurement - the consumer price index - was introduced in 1997. Market analysts are
now predicting an increase in the base rate of interest following the next meeting
of the Bank of England\'s monetary policy committee in May.

While rising inflation may have certain effects on the domestic market -
particularly for the much put upon first-time buyer - there is one particular
advantage for the overseas property investor: the strength of the pound.

With inflation rising high, the pound is performing strongly against other
currencies and this means that it is possible to get some very favourable exchange
rates. One of the best rates at present is with the US dollar. As of mid-April, one
pound is worth just over two dollars. Historically, the average rate has been around
the 1.6 mark, so it is clearly unusually high at the moment.

This means that there are properties available for a bargain price - and prices have
been lowered further by American owners desperate to sell in the middle of a
protracted US property market slump. However, it will not do to just buy a property
because it is cheap. Location and potential rental yield must also be taken into
account and in the US, some places far exceed others in their potential for revenue
generation.

Florida, for instance, is a traditional family holiday destination and attractions
such as Disneyworld and Universal Studios have made it popular with tourists the
world over - and Americans themselves. The state is also blessed with almost
year-round good weather that has earned it the moniker of \"The Sunshine State\".

Paul Collins, overseas property editor for Buy Association, says he would advise
overseas investors to look at buying there. \"Florida has always been a popular
destination for UK buyers and this is likely to continue regardless of exchange rate
fluctuations,\" he explains.

Another spot worthy of consideration is New York. A major part of the Big Apple\'s
tourist trade is centred around shopping breaks, as the city is famous, among other
things, for having a huge range of designer boutiques and department stores. With
the current favourable exchange rate, \"British bargain-hunters will pack onto
flights to the Big Apple to snap up goods that have suddenly become much cheaper,\"
says Mr Collins. Because of this, he predicts, people who own short-term let
apartments in Manhattan will be the best placed to take advantage of the current
strength of the British pound.

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