According to the National Association of Realtors® newly released 2017 Profile of International Real Estate Activity in Florida, the state saw a $4.8 billion increase in foreign purchases from 2016.
2017 highlights of foreign transactions
- Florida remained the #1 destination for foreign purchases at 22%
- 21% of residential dollar volume in Florida were foreign transactions
- 61k properties in Florida were were bought by foreigners, up from 47k in 2016
- Latin America and the Caribbean were the largest portion at 34%, Canada was 22% with Europe holding steady at 23% and Asian buyers at 10%
- All-cash purchase made up 72% of all foreign purchases
- 75% percent of foreign buyers intend to use their new property as a vacation home, rental or both.