Florida is the top state for international buyers and sellers, according to the Orlando Sentinel.
According to research by the NAR, 22 percent of international buyers in the U.S. purchased property in Florida, and 26 percent of foreign owners in the country sold property in the state in the 12 months ending in March.
The majority of the transactions involve investors from Canada.
Foreign investment isn’t what it once was. Owners who primarily reside in the 10 most common countries for foreign buyers only owned 432 properties in Orange County, Fla., last year, down from 1,124 in 2011.
Foreign buyers spent $19.4 billion in Florida during a 12-month period that ended in late 2016, according to a National Association of Realtors report in December specifically for Florida. That was down 18 percent from the previous year.