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Brits shopping for property in America?

As Tesco opens its first Fresh & Easy stores in California and Nevada, Jo-ann Hodgson wonders if British property shoppers will be following hot on the heels of the supermarket giant

Brits shopping for property in America?

The Fresh and Easy Neighbourhood Market in Hemet, California, opened its doors to the American public last week and so became the first of 120 Tesco stores to be launched by the end of February.

But it is by no means the only British interest in the Golden State. 

California, in fact, is the most popular state with Brits making a permanent move to America and the arrival of the UK's biggest retailer will no doubt make the 2,526 Brits that became permanent residents of the state in 2006 feel even more at home.

To cater for an increased interest from British buyers in the Californian property market, one of America's largest home builders, D.R. Horton, recently launched a sales office and website in the UK to assist with queries.

"California is often overlooked [in favour of Florida] as the destination of choice by UK property buyers, but now is the time to capitalise on a good exchange rate and the investment potential in this market," says Richard Reid, Head of Sales at D.R. Horton UK. "Whether you're climbing the property ladder and looking for the next value-for-money development, or you're a family or retiree looking for a total change in lifestyle, California offers something for everyone."

The company offers a wide range of Californian property, ranging from single-level, two-bedroom apartments to two-storey detached homes throughout the state's coast and desert landscapes, with each private community featuring landscaping, a fitness centre, clubhouses, outdoor pools, cabanas and barbecues.

Currently on the market in Ventura County, California, are six marina property developments offering a selection of two-, three-, four- and five-bedroom homes, with prices starting from £375,000.

Located in West Desert Hot Springs, Coachella Valley, six residential villages are also planned, the first two offering one- and two-storey detached properties starting from £125,000.

Those looking to buy a property in western America but lacking the budget required for many Californian homes could, instead, go house hunting in neighbouring state Nevada - where, in Las Vegas this week, Tesco opens five more of its Fresh & Easy stores.

Nevada is also proving a popular state with property buyers. According to the US Census, every hour, 24 hours a day, 365 days a year, another two acres of Las Vegas land are developed for commercial or residential use - such is the demand for property in the city.

"The number of people buying property in Las Vegas has gone through the roof," says Linda Rheinberger, president of the Greater Las Vegas Association of Realtors. "There is an increasing demand for high-rise residences, and I expect that, over the next five years, around 15,000 high-rise units will be built in the city."

There are currently many developments going up in Las Vegas's suburbs which offer a range of housing options, jobs, schools, and shopping opportunities. Seven Seas International is offering two- and three-storey homes in a gated community five minutes from the 'Strip'. The Nevada properties have access to swimming pools, club houses and a business centre with prices starting at £85,192 for a one-bed, one-bath apartment.

Although Nevada is not as popular as California with British emigrants – attracting just 169 of us in 2006, a combination of economic bullishness, affordable housing, Tesco's American invasion and a forthcoming Harrods outlet might just make Las Vegas a safer bet for British property shoppers.

Pictured: D.R. Horton property in California

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Article first published 12 November 2007