Nearly one in four Florida homes sold last year went to an international buyer, according to a report by the National Association of Realtors. The report found that South Florida was a top destination for foreign buyers, who accounted for nearly 25 percent of all home sales statewide. Nationally, non-U.S. residents made up only about 3 percent of sales.
International buyers spent more than $12 billion on Florida real estate in 2010. Half of of the international buyers planned to use the home as a vacation home, while 21 percent planned to use it as an investment property, the report found. Four out of five used all cash for the purchase.
South Florida was the most popular destination in the state for buyers from Latin America, Eastern, and Western Europe.