Buying Property in Florida: A Guide for European Buyers

Why Florida keeps topping the table

NAR's 2026 international transactions report puts Florida ahead of California (19%) and Texas (12%) as the top state for foreign purchases. British buyers were among the top five nationalities in the US overall, alongside Canadians, Mexicans, Chinese and Indian buyers.

European demand concentrates where the infrastructure for overseas ownership already exists: Greater Miami and Fort Lauderdale on the Atlantic coast, the Orlando area with its holiday-let economy, and Gulf Coast cities such as Tampa, Sarasota and Naples. Habio's Florida area guides cover these markets in more depth.

What homes cost in 2026

Florida Realtors data for June 2026 shows a statewide median of $432,000 for single-family homes, up 4.9% on a year earlier, while condos and townhouses had a median of $305,000, up just 1.7%. Closed sales have now risen year on year for ten straight months.

Supply tells the more useful story for buyers: single-family inventory stood at a 4.5-month supply, close to a balanced market, while condos sat at 8.1 months - a clear buyer's market with room to negotiate. Local prices range widely, from well below the state median in parts of Central Florida to several times it in coastal Miami or Naples.

Taxes for non-resident owners

Florida charges no state income tax, which is a genuine advantage if you plan to let the property - only federal tax applies to rental profits, though short-term lets can attract state sales tax and county tourist development taxes.

Property tax works less in your favour. Florida's homestead exemption and the cap on annual assessment increases apply only to permanent Florida residents. As a non-resident second-home owner you pay tax on the full assessed value, so your bill can be noticeably higher than a local neighbour's for an identical house. Check the county property appraiser's website for the actual rates where you are buying, as they vary by county and can change.

Insurance, hurricanes and condo rules

Budget seriously for insurance. Windstorm cover in coastal areas has become one of the largest running costs of Florida ownership, and flood insurance is almost always a separate policy on top of a standard homeowner's policy. Get insurance quotes for a specific property before you commit, not after.

For condos, Florida's post-2021 building-safety laws require milestone structural inspections and funded reserves for older buildings. That has pushed up service charges and triggered special assessments in some older coastal towers - one reason condo prices are soft. Before offering on an older building, ask for its inspection reports, reserve study and budget.

• Ask for current insurance quotes: wind, flood and standard cover quoted separately.
• For condos roughly 30 years or older, request the milestone inspection report and reserve study.
• Check whether the community or building restricts short-term letting before counting on rental income.
• Confirm the property's flood zone with the local county's mapping tools.

Anything stopping Europeans from buying?

For most European nationals, nothing. There is no citizenship requirement, though a Florida law passed in 2023 restricts purchases by nationals of a short list of countries of concern, which includes Russia - if that could affect you, take legal advice on the current rules. Remember also that owning a Florida home grants no US visa, and that when you eventually sell, the federal FIRPTA rules generally require 15% of the sale price to be withheld against your capital gains tax.