Pictured is a for-sale sign in front of a house in Miami, Florida. An increasing number of Chinese are buying properties in Miami, attracted by its clean beaches and tropical climate. [Photo: Chinadaily.com.cn]

In 2014, five countries accounted for 51 percent of all purchases by international buyers in the US: China, Canada, Mexico, India and the United Kingdom, according to a report released on Wednesday.

For the first time, buyers from China exceeded all other countries in terms of units purchased and dollar volume, purchasing an estimated 28.6 billion US dollars worth of property, followed by buyers from Canada with 11.2 billion US dollars, India with 7.9 billion US dollars, Mexico with 4.9 billion US dollars and the U.K. with 3.8 billion US dollars, shows the report issued by the National Associations of Realtors, America's largest trade association.

The total foreign sales dollar volume is estimated at 104 billion US dollars, approximately 8 percent of total Existing Home Sales dollar volume.

"In 2014, sales transaction to buyers outside of the U.S. dropped by 10 percent, possibly due to the strengthening of the U.S. dollar in relation to international currencies and weakening foreign economies," said NAR Chief Economist Lawrence Yun. "However, the amount of money spent has increased; this means international purchasers in the U.S. have become an upscale group of buyers, spending more money on fewer homes."

International buyers tend to purchase more expensive properties with the average purchase price being 499,600 US dollars, compared to the overall U.S. average house price of 255,600 US dollars. Chinese buyers typically purchased the most expensive properties, at an average price of 831,800 US dollars, says the report.