Florida property is looking attractive with the weak dollar - But is it the time to Buy?

Overseas property buyers may be changing their minds about emerging markets and look to Florida property as the US dollar continues to slide. It seems the ideal time to buy real estate in the sunshine state but is this really true?

The Florida property market has always been an attractive place to buy overseas property. Many Brits for example think of Florida when asked where they would like to buy overseas property. English football star Wayne Rooney recently bought a £250,000 condo in Florida - so fiancé Coleen McLoughlin's nine-year-old sister Rosie can enjoy days out at Disneyland

With the dollar sliding to the two dollar mark against the pound many overseas property agents feel that they will see a rush to buy Florida property. The feeling is also the same from Florida realtors.

Peter Conradi the property editor of The Sunday Times and author of the overseas property guide 'Fly to Let' expresses a note of caution to overseas property buyers. In his recent blog he says ‘The most obvious caveat, of course, is what if the dollar hasn't yet reached the bottom? Your dream property may be a bargain at £1=$1.95, but will be an even better one if the American currency sinks to $1.97.

"The message to those hoping to invest in the States is hold off," says Stuart Law, the managing director of Assetz, the property advisory company. "There is further to go before the market stabilises and offers the prime opportunity to investors." Only time will tell if they are right.