Tuesday, May 29, 2007

Favorable Exchange Rate Driving Europeans' Purchase of U.S. Real Estate

With one British pound worth $2.00 U.S. and the euro also strong, a lot more British, Irish and other Europeans are coming to America to vacation--and to buy vacation homes and investment properties. Florida and New York City aren't the only places experience an influx of buyers from "across the pond"; New Hampshire's White Mountains and nearby western Maine is, too.
While Florida has traditionally attracted the majority of buyers from the U.K. and Ireland, the New York Times reported on http://www.nhtimes.com/, "After a long economic boom that earned their country the nickname the Celtic Tiger, the Irish are flush with cash and searching the globe for places to invest it." Thanks to the favorable exchange rate, U.S. real estate is a relative bargain compared to that in Ireland or the U.K.

Another region of the U.S. that is attracting buyers from "across the pond" is New Hampshire's White Mountains and nearby western Maine, a popular vacation destination that offers year-round recreation, spectacular scenery and an active lifestyle. Many European visitors fly into Boston's Logan Airport, located just 2 1/2 hours driving time south of the region. Flight times and accessibility factor into many visitors' choice of destination: London to Boston flights average 6 1/2 hours, whereas London to Orlando, Florida flights are usually a minimum of 11 hours. With flights from Manchester, U.K. and Glasgow, Scotland to Manchester, New Hampshire scheduled to start in 2007, it's expected that the White Mountains will become even more popular. read more
From PRWeb