Could international money transfers to Florida be on the rise?

International money transfers to Florida could be on the rise as it has been suggested that the state is particularly popular with overseas property buyers.

Adam Samuel, director at Nubricks.com, said that despite fluctuations in the US property market, Florida was still seeing some action, "certainly from foreign buyers".

He added: "Everyone is chasing the capital, but [they are] not really in their droves going back to anything like what it has been before in terms of property investment.

"Florida is the one to watch, but the broader market of the US is still going to take a long time to recover."

The comments come as a study from the US Census Bureau and the Department of Housing and Urban Development revealed that there has been an increase in demand for new property.

Sales of new build homes jumped by 23.6 per cent in June this year, as average sale prices reached $242,900 (�157,100).

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Posted by Thomas Smith