Brits looking to see savings returns ’shouldn’t invest in US property’
Investors would be better to place their funds in more reliable places such as international savings accounts than US property in the current economic climate, according to an expert.
Andrew Bartlett, owner of Andrew Bartlett Florida, said that those who invest in property in US at the moment are unlikely to see good returns. He explained that "Brits should be concerned if they are investing anywhere overseas".
Mr Bartlett added that the current exchange rate between the pound and dollar is also acting as a deterrent to investors.
According to the latest Schiller House Price Index, average property prices in the ten-city-composite average were down by 2.4 per cent year-on-year in December 2009.
The news follows a report from the Financial Times which reveals that those who regularly search around for the best deal on savings accounts could have made returns of 70 per cent over the past few years.
It claims that this rate "outperforms" the returns made from investment in shares.
Posted by Andy Price.