People looking to build an investment portfolio should consider Florida property when in the market for a new acquisition, it has been claimed.

House-hunters looking for cut-price bargains in the repossession market should take a tip from the savvy investors currently snapping up Florida property as soon as it comes onto the market, according to Property Frontiers.

Head of Research at the firm Christopher Chadd commented: "Florida is home to a multitude of tourist attractions including the world famous Walt Disney parks.

"People from all over the globe continue to visit the state and it remains one of the most visited places for US citizens taking their annual holidays."

He added that Spanish property has also become synonymous with holiday home bargains, although investors looking to turn a profit can afford to be selective and take their time as supply currently outstrips demand.

The latest IME index from Tinsa revealed that Spanish property prices have fallen by 10.1 per cent in the past 12 months, which could present an excellent opportunity for aspiring investors.

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