With sterling trading at record levels against the US dollar in the past few months, many buyers have shied away from investing in the US.

BuyAssociation.co.uk property editor Paul Collins looks at ways to get more bang for your buck.

If there was a prize for the most overused phrase in the last quarter of this year, 'global credit crunch' would have to be up there amongst the frontrunners. While no-one is denying the importance or the effects of the sub-prime mortgage market problems that have been experienced throughout this year, there are plenty of opportunities to make the most of the weakening dollar.

Many analysts have predicted a serious downturn in the UK property market as a result of the slowdown in the US economy, but recent research from Datamonitor, commissioned by Overseas Property Professional, has shown that attitudes to buying overseas have never been more positive among buyers. The figures suggest that over 80 per cent buyers would recommend that their friends also buy abroad.

There have been some jitters in the US market, and there are some areas in which there are some real opportunities to be found on new-build developments. In essence, unless you are buying for pure investment purposes and are looking to resell the property before completion, the reasons for buying in the US remain as valid as they ever were.

Buyers in Florida are confronted with some developers offering up to 40 per cent discounts on units that may have stuck on the market. Even on popular developments, there are some great deals to be had with the current exchange rate. The award-winning Tuscana resort, just a stone's throw from Disneyland in the Champion's Gate area of Orlando, is almost sold out, but developer Feltrim is offering a three-year leaseback option on the last few houses. This, combined with two-bedroom properties on what is already a very successful development and available at a shade over £177,000, makes an attractive proposition.

Florida will remain a popular tourist destination, and will possibly become even more popular with visitors with the dollar's current weakness. And if you aren't keen on theme parks, there are opportunities to get a foothold in Miami for even less. The Flamingo resort is on the shores of Biscayne Bay, and offers a host of facilities in a five-star setting. There are 1,700 properties available here, from studios to spacious three-bedroom apartments, and with prices starting below £150,000.

Whereas in years past, property buyers wouldn't look beyond Florida, or possibly Manhattan for the super-rich, there are now properties coming onto the market in other parts of the country. New England has long been popular with tourists who are keen to explore the wilder side of the North East of the US, and is easily reached through direct flights to Boston. Lodges available in the fantastically-named Moose Haven Ridge development, in Maine, among some of the most spectacular scenery in New England, start from around £160,000. This offers an unrivalled mix of remoteness and tranquility, combined with good connections to towns and cities nearby.

Another region growing in stature for overseas property buyers is North Carolina. Offering the same kind of natural environment, in this instance near the Chimney Rock Park and the Blue Ridge Mountains, Bill's Mountain resort is situated on Lake Lure, one of the most beautiful man-made lakes in the world. This slice of serenity is available in three- or four-bedroom lodges from just of £272,000.

The advantages of buying in the weakened state of the US dollar can also be transferred to other markets which trade primarily in the Greenback. In the Caribbean, for example, this could easily be the opportunity that allows buyers to get into a property market that may otherwise be closed to them. The premier golf resort on Barbados, Royal Westmoreland, is just the kind of place that may now allow mere mortals to buy property in the same development as Gary Lineker, and the slightly less-popular Steve McClaren.

The owner of Royal Westmoreland, British businessman John Morphet, has recently announced a further investment of some $500 million in a new 18-hole course and up to 250 more properties in order to keep the resort at the top of the tree for golf in the Caribbean. Plots to build your own sea-view property can be snapped up for just £246,000, while buying one of the latest releases of complete properties, the Royal Apartments come in at just over £285,000 for a one-bedroom.

At the less-expensive end of the market, agent GEM Estates is offering clients the chance to become the owners of a Caribbean property for just £1,000 reservation fee on a 100 per cent finance scheme. The grand represents the initial money-down fee on these off-plan properties, with a further 30 per cent deposit payable within 30 days. One of the projects on which this is available is the extensive Buccament Bay resort on St Vincent & The Grenadines, which has hotel suites for just £115,000, and individual one-bedroom cabanas for £285,000.

However, you choose to spend your dollar, the potential for the increase in value of the US currency in the next few years is very real, and will increase the value of any property bought in these regions without any market movement - even if the market does buck the trend…

Contacts:

Feltrim
www.feltrim.net
0800 078 9100

Undiscovered Properties
www.undiscoveredproperties.com
0870 734 7968

Royal Westmoreland
www.royalwestmoreland.com
44 (0)1524 782 503

GEM Estates
www.gem-estates.com
0800 731 8494

The article Dollar deals originally appeared on 999 Today