Florida is still the most searched for destination by international property buyers looking to purchase in the US. According to residential property site Point2. Florida retained its top spot in the last quarter of 2011 for the second consecutive quarter.
Point2 found that Florida accounted for 31.04% of all international searches in the last quarter of 2011, losing just 2% to other states. Arizona is still the second most popular destination, and it saw the number of searches increase from 15.15% in the third quarter to 19.44% in the fourth quarter. Nevada remained in third place, although its share of the traffic increased only slightly to 8.61% from 8.22%.
It's not all good news as apparently international traffic to the top 10 states decreased significantly from 31.59% in the fourth quarter of 2010 to just 23.41% in the fourth quarter of 2011. This is a clear sign that the global recession is far from over, and buyers from China are proving more reticent to purchase property.
Most of the buyers come from Canada, as Canadian buyers accounted for a whopping 93.58% of searches for Arizona property, 78.28% for Hawaiian property and 74.11% of those searching for homes in Michigan. Buyers from Great Britain and Mexico were second and third highest respectively for the fourth quarter.
The most popular city for overseas buyers was Las Vegas as it accounted for 14.53% of all traffic during quarter four. The city of Mesa in Arizona was the second most popular city, while Orlando in Florida was in third place. However a list of the top 20 cities shows seven cities were in Florida.
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