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Expats ‘should head to Florida and Abu Dhabi’ - 4 August 2009

Britons who are considering moving abroad permanently have been advised by one international property expert to look at property in Florida and Abu Dhabi as potential destinations.

Christopher Chadd, head of research at international agent and developer Property Frontiers, said that Brits are now looking to buy property overseas at the cheapest price possible, and Florida fits the bill perfectly. As the global property price crash started in the US, it is also where the most distressed sales and repossessions are to be found, which attracts the bargain-hunting Brits.

Added to this is the fact that Florida remains a very popular tourist destination for both domestic and international holidaymakers, and the attractions located in the Sunshine State will continue to draw visitors. “Florida is home to a multitude of tourist attractions, including the world-famous Disney parks,” he said. “People from all over the globe continue to visit the state.”

The sheer amounts of distressed and foreclosed properties for sale mean that there is plenty for the bargain-hunters to choose from and some genuinely motivated sellers, whether they are private individuals or banks.

Mr. Chadd also singled out Abu Dhabi as a potential relocation destination, despite the current troubles being experienced by it’s close neighbour, Dubai. Abu Dhabi is far richer in cash terms than Dubai, although far less brash and showy with its wealth. This puts the Emirate in a stronger position in the property world and should lead to large numbers of companies relocating to the area.

At the same time, it is true that the fortunes of Abu Dhabi and the other states of the United Arab Emirates are constantly changing, and it has been reported that the rulers of Dubai even had to ask the government of Abu Dhabi for loans to complete some of the flagship building projects that had been started before the global economic downturn hit.

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