MIAMI Realtors : Colombians lead all global consumers searching South Florida real estate

Colombia continues to be the top foreign country searching for South Florida real estate on the MIAMI Association of REALTORS® (MIAMI) website, according to new statistics from the nation’s largest local Realtor group. Colombia registered the most South Florida property searches among all countries on MIAMI’s portal, www.MiamiRealtors.com, in May 2017.

Colombia has led the MIAMI property search rankings in 13 of the last 18 months. Venezuela and Brazil finished second and third, respectively. Canada — a top international market for South Florida real estate — moved into the top-four countries, its highest finish since it took third in June 2015.

“Miami consistently ranks among the most-searched U.S. real estate market globally,” said Coral Gables Realtor Christopher Zoller, the 2017 MIAMI chairman of the board. “Our new data shows that while Miami is a destination for Latin American home buyers it is also a major hotspot for consumers from Canada, India, France, Spain and other countries.”

Colombian home buyers tied with Brazil in making the third-most international purchases in South Florida, according to the 2016 Profile of International Home Buyers of MIAMI Association of REALTORS® (MIAMI) Members. Colombia had a 10 percent share of all international purchases in South Florida. Venezuela (15 percent) and Argentina (11 percent) finished first and second, respectively.

Colombian consumers had the fifth-highest average purchase price ($388,000) among South Florida international clients, according to the 2016 MIAMI report. Brazil had the highest ($775,000).

Colombia home buyers rank fourth among top international buyers in Miami-Dade County (8 percent), second in Broward County (17 percent) and tied for fourth in Palm Beach County (4 percent).

Miami-Fort Lauderdale-West Palm Beach finished as the No. 2 U.S. market for international consumers in May 2017, according to Realtor.com. South Florida ranked No. 1 in March and April 2017.

Top-10 U.S. markets for international real estate demand:

  1. Los Angeles-Long Beach-Anaheim, CA
  2. Miami-Fort Lauderdale-West Palm Beach, FL
  3. Bellingham, WA
  4. New York-Newark-Jersey City, NY-NJ-PA
  5. Orlando-Kissimmee-Sanford, FL
  6. Kahului-Wailuku-Lahaina, HI
  7. Urban Honolulu, HI
  8. Tampa-St. Petersburg-Clearwater, FL
  9. El Centro, CA
  10. Houston-The Woodlands-Sugar Land, TX

South Florida ranked as a top-five market for consumers in five of the world’s six largest regions in May 2017. South Florida finished as the most-searched U.S. market in South America and Western Asia.

Source: MIAMI Association of REALTORS

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