Sharp rise in enquiries for US property

Connect Overseas has reported an increase in enquiries from intermediaries with UK and international clients looking to invest in US property and needing finance.

The international mortgage specialist, which is part of the Connect Group, says enquiries for US property finance now make up over 20% of requests for assistance, just behind those for Spanish property.

Liz Syms, Connect Overseas’ managing director, said: “The US property market has undergone a renaissance in interest as investors have moved in to take advantage of depressed property prices arising from the distressed state of the market caused by the financial downturn.

“Rental yields are running into double digits and with a recent report from Goldman Sachs suggesting the market in the US is likely to rally in the second half of 2012, it is not surprising that investors are seeing the opportunity to invest now.”