Florida Leads United States in International Buyers
From Canada to the United Kingdom, Argentina and Mexico, foreign buyers love Florida real estate. By purchasing luxury and vacation homes, mid priced primary residences and commercial properties, foreigners provide a strong & steady flow of investment capital throughout the state. International buyers love Florida's location as a convenient point of entry to the United States from Europe and South America and the warm weather, recreational and cultural offerings are also very compelling. Florida is a very welcoming state to everyone, regardless of race or background.
In 2007, a survey by NAR (the National Association of Realtors) found that Florida led the United States accounting for 26% of all foreign home purchases. California was 2nd at 16%, followed by Texas at 10%. The 2007 NAR Profile of International Home Buying Activity, which covered buying patterns from April 2006 to April 2007, noted that the United States real estate is still considered a prime investment opportunity for foreign buyers and a “safe haven” for their money.
Whether using their U.S. home as rental & investment property, as a vacation/2nd home or both, non-U.S. residents account for a significant share of home buying activity. One of the key reasons is a weaker U.S. dollar against major foreign currencies, including the euro and the British pound. That gives foreign buyers more purchasing power in the Florida market. Compared to home prices in other countries such as Spain, the United Kingdom and Ireland, real estate in Florida remains highly affordable. For Foreign buyers, Florida is also one of the most easily accessible U.S. states with 31 major airports and 14 deepwater seaports. That convienence supports international tourism with more than 4 million+ visitors from over 100+ countries that visit Florida every year.