International Buyers In Florida: Where Do They Come From?
International Buyers in Florida: What the 2025 Report Shows for Vero Beach
- International buyers spent $10.4 billion on Florida homes from August 2024 to July 2025, up from $7.1 billion the year before. That’s still well below the peak of more than $15 billion a few years ago.
- Canadians lead by a wide margin: 18% of foreign buyers and $1.9 billion spent. Colombia jumped to second place.
- 60% of international buyers paid cash, and their median price was $442,000, about $52,000 above the typical Florida home.
- About 70% of agents with foreign clients lost at least one deal, most often on price. Rising condo fees made it worse.
- The report skips taxes, FIRPTA, insurance and how long you can stay in the U.S. Those are the places where foreign buyers get surprised.
International buyers in Florida came back last year. Florida Realtors’ 2025 Profile of International Residential Transactions counts 16,400 existing homes bought by foreign buyers between August 2024 and July 2025, up from 10,900 the year before. That’s about a 50% jump, and it’s 5% of all existing-home sales in the state.
The report gives you the numbers. It doesn’t tell you what they mean if you’re a Canadian looking at a condo on Orchid Island or a Vero Beach seller wondering who your buyer might be. That’s what this post covers.
The numbers in plain terms
Here’s what stands out:
- $10.4 billion in total purchases, up about 46% from the multi-year low of $7.1 billion in 2024
- $442,000 median price for international buyers, against $390,000 for all Florida existing homes
- 60% paid all cash, compared with 47% of international buyers across the whole U.S.
- 58% bought single-family homes, not condos
- 67% live full-time outside the U.S. (the report calls them “Type A” buyers)
Florida Realtors still calls the market soft. High prices, high rates and economic worry kept sales below pre-pandemic levels, even with the bounce.
Canada still leads, and Colombia is back
By number of sales, the top five countries were:
- Canada (18%)
- Colombia (10%)
- Brazil (7%)
- Argentina (6%)
- United Kingdom (5%)
By dollars spent, Mexico ($489 million) replaced the UK in fifth place. Canada spent $1.9 billion, up 52%. Colombia tripled its spending, from $307 million to $925 million, and pushed Brazil down to third.
One thing to watch: the report’s window runs through July 2025. Canadian travel to the U.S. fell hard in 2025 over trade tensions, and only part of that shows up here. The next report, due around November 2026, will show whether Canadian buying held up. [JON: add what you’ve seen from Canadian buyers or sellers in Vero Beach this year]
Where they buy, and why Vero Beach isn’t on the list
Almost half of all international buyers (45%) bought in the Miami, Fort Lauderdale and West Palm Beach metro. After that came Orlando (13%), Cape Coral and Fort Myers (8%), Tampa (7%), Naples (6%) and Sarasota (4%).
The Sebastian and Vero Beach metro doesn’t make the list. For a foreign buyer who comes here, that means less competition from other foreign buyers than you’d face in Palm Beach or Naples. For a local seller, it means you shouldn’t price your home as if a Toronto cash buyer is on the way.
The foreign buyers who do find Vero Beach usually find it through people they know. The report says 65% of international buyers came through referrals or were past clients. Most of the Canadians and Europeans I talk to know someone here already, often a friend who winters here. If that’s you, my guide to the best Vero Beach communities for snowbirds is a good place to start.
What they do with the home
68% of international buyers planned to use the home as a vacation place, a rental or both. That matches what I see here. Most foreign buyers want a winter home they can rent out part of the year to cover costs.
That plan runs into two problems in Vero Beach. First, many condo and HOA communities limit rentals, with minimum lease terms or caps on how many units can rent. Read the rules before you make an offer, not after. Second, [ADD: current Vero Beach and Indian River County short-term rental rules]. My post on buying a vacation home in Florida goes through the rest.
Why deals fall apart
About 70% of agents with international clients had at least one buyer walk away, up from 67% the year before. Price was the top reason, at 42%.
Florida Realtors also names condo fees, and that’s a Florida story. After the Surfside collapse in 2021, the state passed laws that require structural inspections on older condo buildings and full funding of reserves for major repairs. Many associations raised monthly fees or charged special assessments to comply. A condo that looked cheap on paper can cost hundreds more a month than the buyer planned. I cover what to check in buying a condo in Florida.
Insurance adds more. Foreign buyers often don’t expect what wind and flood coverage costs on the coast. See Vero Beach home insurance costs and hurricane and flood insurance in Florida before you set a budget.
What the report doesn’t tell you
FIRPTA when you sell
When a foreign person sells U.S. property, the buyer must usually hold back 15% of the gross sale price and send it to the IRS. You get back what you don’t owe when you file a U.S. tax return, but that can take months. There are exceptions, including a lower rate or none at all for some homes under $1 million that the buyer will live in. Plan for this when you buy, not when you sell. Florida Realtors has a FIRPTA overview, and you should talk to a tax advisor who works with foreign sellers.
Property taxes without homestead
Florida’s homestead exemption and its 3% cap on assessed value go only to people who make the home their permanent residence. Most Type A buyers won’t qualify. Non-homestead homes get a 10% cap on yearly increases for non-school taxes, which still means bigger bills over time. More on this in my post on the Florida homestead exemption for out-of-state owners.
How long you can stay
Owning a home in Florida doesn’t give you the right to live in it all year. Most Canadians can visit for up to six months at a time. Stay too many days over a three-year window and the IRS can treat you as a U.S. tax resident. Many snowbirds file IRS Form 8840 each year to avoid that. Count your days and get tax advice before you plan a long season.
Florida’s 2023 law on some foreign buyers
Florida limits property purchases by people domiciled in China and several other named countries, with extra limits near military sites and key infrastructure. It doesn’t touch buyers from Canada, Colombia, Brazil, Argentina, the UK or Mexico. If it could apply to you, get a Florida real estate attorney involved early.
Visit before you buy
90% of international buyers visited Florida at least once before they bought. I’d push that further. Come in the summer, not just in February. See the home in August heat, drive the barrier island in traffic and talk to the neighbors. The Vero Beach relocation guide will help you plan the trip.
If you’re buying from outside the U.S. or selling to someone who is, contact me. I’ll help you sort out the rental rules, costs and timing before you commit.
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