These results reflect the strong demand from foreign buyers and investors that exists for Miami properties.
Miami, Florida (PRWEB) April 30, 2013
Attention from foreign consumers searching U.S. properties increased for Miami in March, according to the 26,000-member MIAMI Association of Realtors (MIAMI).
South Florida, the top area in the nation for international real estate buyers, remains the focus of consumers from a diverse group of nations.
Miami Top Market for Foreign Consumers
In March, Miami ranked second only to Los Angeles among the top ten overall most searched U.S. cities by non-U.S. consumers throughout the month of March 2013, according to Realtor.com® & Realtor.com® International. Miami moved up from fourth place in earlier rankings. Fort Lauderdale ranks eighth. If the Miami-Fort Lauderdale market were combined, the ranking would be even higher.
1. Los Angeles, CA
2. Miami, FL
3. Las Vegas, NV
4. Orlando, FL
5. Detroit, MI
6. Houston, TX
7. New York, NY
8. Fort Lauderdale, FL
9. San Diego, CA
10. Chicago, IL
The top countries for consumers searching South Florida properties on Miamire.com (Miami Association of Realtors Property Search) in March 2012 compared to March 2013 were from:
1. United States
1. United States
“These results reflect the strong demand from foreign buyers and investors that exists for Miami properties,” said 2013 Chairman of the Board of the MIAMI Association of REALTORS Natascha Tello. “It is interesting to see countries like India and Germany ranking among the top markets looking to buy or invest in Miami and South Florida. The Miami real estate market remains a mecca of global activity, differentiating us form the rest of the U.S. and fueling our vibrant real estate market.”
Nationally, the Miami-Fort Lauderdale area is consistently one of the top markets for most of the highest ranking countries searching for property in the U.S. According to Realtor.com®, the top countries (outside the U.S.) where global consumers were most engaged on Realtor.com® & Realtor.com® International in March 2013 were:
- *Canada: Las Vegas, Fort Lauderdale, Orlando, Detroit, Naples
- *U.K.: Los Angeles, Orlando, Miami, Houston, Las Vegas
- *Germany: San Antonio, Los Angeles, Cape Coral, Miami, Las Vegas
- Australia: New York, Los Angeles, Las Vegas, Houston, Detroit,
- Japan: San Diego, Alpharetta, Las Vegas, San Diego, San Antonio
- Mexico: San Diego, El Paso, Laredo, San Antonio, Las Vegas
- India: Los Angeles, Orlando, Chicago, Dallas, Houston
- *Brazil: Orlando, Miami, Boca Raton, Fort Lauderdale, Miami Beach
- China: Detroit, Los Angeles, Irvine, Las Vegas, Orlando
- *France: Chicago, Miami, Los Angeles, Miami Beach, San Diego
- *Russian Federation: Los Angeles, Miami, Orlando, New York, Detroit
- South Korea: Las Vegas, Irvine, Los Angeles, San Antonio, Columbus
- *Italy: Miami, Los Angeles, Miami Beach, New York, San Diego
- *Netherlands: Los Angeles, Miami, New York, Houston, Las Vegas
- *Switzerland: Miami, Las Vegas, Los Angeles, San Diego, Raleigh
- *Spain: Miami, Los Angeles, New York, Las Vegas, San Diego
- *Ireland: Los Angeles, New York, Orlando, Chicago, Miami
- *Sweden: Los Angeles, Detroit, Parkland (FL), Miami, Fort Lauderdale
- *Belgium: Los Angeles, Miami, Las Vegas, Naperville (IL), Orlando
- Philippines: Las Vegas, Saint Paul (MN), Indianapolis, Los Angeles, Henderson (NV)
*Country with Miami or Fort Lauderdale as top searches.
Based on the 2012 Miami International Market Report, Miami attracts a significant number of buyers from countries not reflected in property search rankings above, including Venezuela, Colombia, Argentina, Peru, and Ecuador. For the latest information on who is buying in South Florida, go to http://www.miamire.com/international/resources.
“Miami had not previously figured as a top market for buyers from the United Kingdom, who tend to purchase in less expensive areas of Florida,” said 2013 MIAMI Association of REALTORS Residential President Fernando I. Martinez. “We are increasingly seeing buyers from new markets becoming increasingly interested in all that Miami has to offer, which is a sign that investors view Miami and South Florida a profitable opportunity.”
About the MIAMI Association of REALTORS
The MIAMI Association of REALTORS was chartered by the National Association of Realtors in 1920 and is celebrating 93 years of service to Realtors, the buying and selling public, and the communities in South Florida. Comprised of four organizations, the Residential Association, the Realtors Commercial Alliance, the Broward County Board of Governors, and the International Council, it represents more than 26,000 real estate professionals in all aspects of real estate sales, marketing, and brokerage. It is the largest local Realtor association in the U.S., and has partnerships with more than 100 international organizations worldwide. MIAMI’s official website is http://www.miamire.com.