Colombia Tops All Global Consumers Searching South Florida Real Estate in July

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Colombia leads all foreign countries searching online for South Florida real estate, according to new statistics from the MIAMI Association of REALTORS® (MIAMI), the nation’s largest local Realtor group. Colombia overtook Brazil as the top country using MIAMI’s search portal, Miamire.com, in July 2015.

Christopher Zoller, 2015 President, MIAMI Association of Realtors

Colombians are so comfortable here in Miami. Our tremendous diversity, world-class shopping, and global business center not only attract Colombian buyers, but all consumers – international and domestic.

Colombia leads all foreign countries searching online for South Florida real estate, according to new statistics from the MIAMI Association of REALTORS® (MIAMI), the nation’s largest local Realtor group. Colombia overtook Brazil as the top country using MIAMI’s search portal, Miamire.com, in July 2015. Brazil had led all international consumers using Miamire.com for 13 consecutive months.

Colombia’s rise to first place marks the first time the South American country has topped the Miamire.com monthly web searches since May 2014. Colombia had finished second to Brazil the last six months. The newly-released statistics also detail increased interest in South Florida properties from countries such as Venezuela and France.

“Colombian home buyers have a long history of purchasing South Florida real estate, so the fact Colombia has overtaken Brazil for the most web property searches is not a surprise,” said Christopher Zoller, a 27-year Miami-based Realtor and the 2015 Residential President of MIAMI. “Colombians are so comfortable here in Miami. Our tremendous diversity, world-class shopping, and global business center not only attract Colombian buyers, but all consumers – international and domestic.”

Colombia: A Top Market for South Florida Real Estate
Colombian home buyers purchase the fourth-most South Florida real estate among all foreign countries, according to the 2014 Survey of International Home Purchases conducted by the National Association of REALTORS® (NAR) for the MIAMI Association of REALTORS® (MIAMI). The South American nation of 48 million residents registered 8 percent of all foreign South Florida deals last year. Venezuelan, Argentinian, and Brazilian buyers comprised South Florida’s top-three foreign markets.

Colombians moving to South Florida are often upper-middle-class families who want to enjoy their prosperity earned in their homeland as professionals and entrepreneurs. Colombians spend the third-highest purchase price on South Florida properties among all foreigners, spending $420,000 on average. The average sale price for all buyers in Florida is $245,000.

Interest from Venezuelan, French Consumers Grows
Venezuelan and French consumers increased their online interest in South Florida real estate in July 2015. Brazil finished second while Venezuela and France finished third and fourth, respectively.

Venezuela hadn’t finished this high in the monthly searches since it took third place in March 2015. France, meanwhile, had never finished in the top-four in web searches on Miamire.com. France had the ninth-most web searches for South Florida property in June 2015.

The top-10 countries visiting Miamire.com in July 2015:
1.    Colombia                
2.    Brazil                
3.    Venezuela
4.    France                
5.    Argentina                        
6.    Canada                
7.    India
8.    Peru            
9.    Spain        
10.    Italy

The top-10 countries visiting Miamire.com in July 2014:
1.    Brazil                
2.    Argentina                
3.    Venezuela
4.    Canada                    
5. Colombia                        
6.    India            
7.    France
8.    Germany                
9.    Mexico
10.    Italy

Top U.S. Markets for Miami
One of the world’s top global cities, Miami is also a top choice for American real estate consumers. The top-10 states searching Miamire.com in June:

2015: 1) California, 2) New York, 3) Texas, 4) Georgia, 5) Illinois, 6) North Carolina, 7) Pennsylvania, 8) Michigan, 9) Tennessee, 10) New Jersey

2014: 1) California, 2) Texas, 3) Georgia, 4) New York, 5) Virginia, 6) Illinois, 7) Pennsylvania, 8) Michigan, 9) North Carolina, 10) Tennessee

Miami Top Market for U.S. and Foreign Consumers
Nationally, Miami is consistently one of the top markets for most of the highest ranking countries searching for property in the U.S. – including Brazil, Germany, and France. In July 2015, Miami or Fort Lauderdale was a top market for consumers in 12 out of the top 20 countries searching for U.S. properties. The top countries (outside the U.S.) where global consumers were most engaged on Realtor.com® & Realtor.com® International and the top-five U.S. markets they searched in July 2015:

1.    Canada: New York, Los Angeles, Las Vegas, Fort Lauderdale; Orlando
2.    United Kingdom: Los Angeles, New York, Orlando, Kissimmee, FL; Davenport, FL
3.    Australia: New York, Los Angeles, Las Vegas, San Francisco, Beverly Hills, CA
4.    Brazil: Orlando, Miami, New York, Los Angeles, Kissimmee, FL
5.    Germany: Los Angeles, New York, Miami, San Antonio, Las Vegas
6.    Mexico: San Antonio, San Diego, El Paso, TX, Houston, Chula Vista, CA
7.    India: New York, Chicago, Los Angeles, San Jose, CA, Dallas, TX
8.    France: Miami, Los Angeles, New York, Miami Beach, San Francisco
9.    Italy: New York, Miami, Los Angeles, Miami Beach, Tampa
10.    Japan: San Diego, Honolulu, Los, Angeles, San Antonio, TX, New York
11.    Spain: Miami, New York, Los Angeles, Fayetteville, GA, Miami Beach
12.    South Korea: New York, Los Angeles, San Diego, Irvine, CA, Las Vegas
13.    Netherlands: Los Angeles, New York, Miami, Las Vegas, Houston, TX
14.    Philippines: Las Vegas, Los Angeles, New York, Chicago, Brooklyn, NY
15.    Sweden: Los Angeles, New York, Miami, Fort Lauderdale, San Francisco
16.    Turkey: New York, Los Angeles, Miami, Boston, Tampa, FL
17.    Israel: New York, Los Angeles, Miami, Fort Lauderdale, Boca Raton, FL
18.    Ireland: Los Angeles, New York, Orlando, Chicago, Beverly Hills, CA
19.    South Africa: New York, Los Angeles, Miami, Houston, Chicago
20.    Austria: Los Angeles, New York, Washington, DC, Malibu, CA, Miami

In July 2015, Miami ranked third among the top-10 overall most searched U.S. cities by non-U.S. consumers. Fort Lauderdale ranked sixth. Combining Miami and Fort Lauderdale would have likely increased South Florida’s ranking.

Top U.S. Cities Searched by International Consumers:
1.    New York
2.    Los Angeles
3.    Miami
4.    Orlando
5.    Las Vegas
6.    Fort Lauderdale
7.    Houston
8.    San Francisco
9.    San Diego
10.    Chicago

About the MIAMI Association of REALTORS®
The MIAMI Association of REALTORS® was chartered by the National Association of Realtors in 1920 and is celebrating 95 years of service to Realtors, the buying and selling public, and the communities in South Florida. Comprised of five organizations, the Residential Association, the Realtors Commercial Alliance, the Broward County Board of Governors, the YPN Council and the award-winning International Council, it represents more than 38,000 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 official partnerships with more than 125 international organizations worldwide. MIAMI’s official website is http://www.miamire.com.

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