As more international cash buyers flood the housing market looking to capitalize on affordable home prices and a weak dollar, Point2Home reports that many of them are interested in property available in Florida.
The firm's U.S. International Real Estate Traffic Report, which is based on activity on their website, shows that 31 percent of all foreign buyer interest was for the Sunshine State during the fourth quarter.
However, Florida was not the only state to attract a large share of international buyers. The report showed that Arizona also attracted a large number of foreigners, drawing 19.4 percent of international interest.
Meanwhile, Nevada attracted 8.61 percent of activity, while Hawaii and Michigan were also state's that international investors showed interest in.
These states have all had higher numbers of foreclosed houses and distressed properties during recent years. In addition, lending standards have become much stricter in these areas, making them prime markets for international buyers paying in cash.
According to the report, the most international interest was found in buyers from Canada, the United Kingdom and Mexico.