There are at least 5 reasons for which the foreign or out of state investors have a preference for Florida foreclosures. According to a study conducted by a national realtor organization established the fact that about 4 percent of total home resales in 2009 occupied non-resident foreign investors and that nearly one-fourth of all overseas property that are obtained across the U.S. in 2008 and in 2009 involved properties in Florida.

In addition with that, a survey by an association of foreign investors reported that inMiami, Orlando and other cities in Florida are amongst the highest investment destinations for foreign property purchasers.

The five causes for Florida getting popular as a property investment destination are the constant increase in foreclosure filings in the state; the continuous price drop as a result of increase in number of foreclosed properties; strong prediction for investment profits; the status of Florida as a popular holiday or tourist destination; and the comparatively high number of experts guiding the foreign investors of Florida properties.

In list of foreclosure homes by state in the first three months of this year, Florida positioned third in foreclosure rate, with one filing out of every housing units. It posted 153,540 foreclosed units, including 22,050 bank owned properties, showing a month-over-month rise of 7 percent and a increase of 28.8 percent compared to the last year.
In March, Florida was in the fourth position in foreclosure rate, with one filing for every 149 housing units. More than 59,000 homes were in the foreclosure process, of which 8,643 housing units were repossessed and declared as foreclosed homes.

The second factor for which Florida became popular as foreclosures destination to foreign financier is the soaring number of affordable properties in the state. In metro Orlando alone, the average price for condo units has decreased by an astonishing 69 percent from $159,600 in March 2006 to only $49,700 in March this year.

In Miami, the average price for pre-owned single-family housing units in March was $197,500, a 4 percent decrease from the $205,600 average price in March in the previous year.

The average price for existing condo units was decreased by 8 percent to $138,800, in comparison with the $151,000 average price in March last year.

Regardless of continued foreclosure postings in the state, which show high levels of unemployment rate, Florida continue as popular destination to foreigners due to its coastal neighborhoods, its services for leisure and its status as a holiday and tourist state.