According to the 2016 Profile of Internatinal Buyers in Florida there are some interesting facts I would like to share:
$19.4 Billion – Foreign buyer purchases of Florida residential properties decreased to $19.4 billion ($23.7 billion in 2015). This accounted for 19 percent of Florida’s residential dollar volume of sales (24 percent in 2015).
Foreign buyers purchased 47,000 residential properties (44,000 in 2015), which made up 12 percent of Floirda’s residential market (12 percent in 2015).
The average price of foreign buyer purchases declined to $412,000 in 2016 compared with $539,000 in 2015.
Latin American and Caribbean buyers accounted for the largest fraction of foreign buyers at 39 percent.
The top five countries of origin by dollar volume were Canada ($3.0 billion), Brazil ($2.8 billion), Venezuela ($1.5 billion), the United Kingdom ($1.4 billion), and Argentina ($1.4 billion).
The number of buyers from Venezuela declined significantly (18 percent in 2015, 8 percent in 2016), while the share of buyers from Canada increased (11 percent in 2015, 19 percent in 2016).
Foreign buyers purchased property across Florida, but they were concentrated in the Miami-Fort Lauderdale-West Palm Beach MSA (52 percent), Orlando-Kissimmee-Sanford MSA (12 percent) and Tampa-St. Petersburg-Clearwater MSAs (8 percent).
52 percent of foreign buyers bought a town home or condo.
All of this said, the next investment increase seems to be coming from Asia, thanks to the growth in Florida’s import/export markets. It will be interesting to see what other countries are interested in our beautiful state!