Real estate flying off the shelves in Florida

January has seen a huge lift in real estate sales across Florida with a high percentage of properties bought by overseas investors.

Property experts have been saying for some time now that house prices in the sunshine state had reached bottom and that over supply had caused some areas within the state to see property values almost halve in the last few years since the global cash crisis.

Sales figures supplied by the Southeast Florida Multiple Listing Service and The Miami Association of Realtors show a 28 per cent increase in residential real estate transactions last month when compared to the start of 2009.

Experts welcomed the boost in sales and predict that the tide has turned and the sunshine is set to return with renewed confidence among both local and international buyers alike and is expected to bring strength to the local economy and employment market.