Nottingham, United Kingdom (PressExposure) April 19, 2008 -- David Stanley Redfern Ltd have just added a new U.S. property to their port-folio. The Solair development is on the world famous corner of Wilshire Boulevard Los Angeles California. Some might think it is strange that DSR would be adding U.S. property to their books amid fear of a U.S. recession. Head of International Research for the overseas property specialist, Liam Bailey explained why they have taken the bold move.
"The current U.S. "credit crunch" and fears of a U.S. recession, has seen the U.S. Dollar's value plummet against the pound, that combined with the U.S. housing market "correction"; a code-word for the sharp halt in price rises followed by a similarly sharp downturn in the sub-prime market means that U.K. buyers now have excellent buying power in the States."
"They are getting far more dollars for their pounds, and far more property for their dollars." Liam continued: "On top of that the U.S. is, and but for a massive recession will remain one of the top tourism destinations in the world, L.A. and California as a whole, including Hollywood being among the most popular destinations in the U.S. The number of Brits seeing the current U.S. economic problems as an opportunity to get a bargain on a holiday home in the states, makes having a property there on our books a shrewd move indeed."
The U.S' current popularity with British buyers was displayed by the country climbing to number four on a Place in the Sun's top twenty, after surveying potential investors at their massive Birmingham road-show earlier this year.
The 22 storey Solair tower "introduces a new concept in high-rise living", with a private, seventh-floor 2/3 acre resort-style amenity deck, similar to those found on cruise liners: a high rise apartment complex with, resident herb gardens, outdoor fire-pits, indoor/outdoor lounge, a fitness room, yoga room, swimming pool, spa and a resident's club. There will also be an exclusive business centre and conference room for residents in the second floor lobby.
The spectacular glass walled tower rises above an expansive two-story retail section and parking facility. The Solair tower will become an architectural beacon in Koreatown's skyline and a building that will be recognized for decades into the future. All in one of the world's top tourism destinations. People are flocking to buy up bargain real estate in America. Owning a holiday home within day-trip distance of Holywood, Los Angeles's world-famous a-lister retail outlets, and California's other world famous attractions can't be bad.