On Florida’s east coast, there is a region called the Treasure Coast, which is 4 counties: Indian River, Martin, Okeechobee and St. Lucie. The name refers to Spanish ships, treasure-laden, that sunk off the Florida's Atlantic coast in 1715. The Treasure Coast is now valued by international investors. Real estate prices in this hard-hit hurricane state fell so low, buyers throughout the U.S. saw Florida as an investment opportunity. With value of the U.S. dollar weakening and exchange rates providing a new incentives, international investors began looking to Florida, too. In 2012, the National Association of Realtors surveyed Florida Realtors about the number of non-resident client/buyers they were seeing. The International Home Buyers Report reveals this about Treasure Coast property buyers/investors:
- Florida was one of four U.S. states that had the most home sales to non-resident foreigners 2011-2012.
- Most of the property sales were cash transactions.
- International buyers paid 56% more for Florida property than its residents.
- Canadians led the International buyers in property transactions.
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