According to the report by the National Association of Realtors “International Transactions in US Residential Real Estate in 2022”, Florida remains the US leader by the number of foreign property buyers. It accounts for approximately 24% of international sales, which surpasses California’s and Texas’s performance by more than two times.
Florida remains the key location for global buyers and investors in the USA. Buyers from all over the world are looking for a place to live, a vacation home, or an investment asset in Florida. Experts say that many foreigners buy residences to protect their money from inflation and receive a rental income. Owning tangible assets, such as a house or a commercial property in Florida, is a good risk mitigation strategy.
A study by the Miami Association of Realtors shows that buyers from 54 countries purchased 9,400 properties in South Florida in 2022, which is 25% more than in 2021.
Historically, foreigners have mostly preferred condominiums that are easy to maintain and yield a guaranteed rental income. Vacation homes are also in demand. According to experts, foreign buyers are increasingly interested in other types of properties nowadays, such as family residences, villas, and commercial properties. Florida, with its numerous landmarks, notably attracts general attention.
It is also common knowledge that after the pandemic, many young professionals bought homes in Florida to work remotely while enjoying a resort lifestyle. Buying a property in Florida is also a good choice for retirees who may choose to spend 3-4 months per year in this state or live there permanently.