Real estate in Florida currently offers exceptional value, according to Property Frontiers.
Christopher Chadd, head of research at the emerging market real estate consultancy, said that the Sunshine State was undoubtedly one of the worst hit areas during the US subprime mortgage crisis, and as a result real estate prices have plummeted.
But while the market does appear to have bottomed out, Mr Chadd advised potential investors to proceed cautiously.
"The issue is finding the right property. As homeowners across Florida defaulted on their mortgages, it has left a load of properties in a distressed state and in disrepair," he commented.
According to recent research by Standard & Poor’s/Case Shiller, house prices in Miami declined 12.1 per cent during 2009, although signs of stabilisation were witnessed in the final months of the year.
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