Colombia Leads the World in South Florida Real Estate Online Searches; Miami is Most-Searched Market on Realtor.com

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Colombia registered the most global searches for South Florida real estate, according to new statistics from the MIAMI Association of REALTORS® (MIAMI)

Mark Sadek, 2016 Chairman of the Board, MIAMI Association of REALTORS

Despite the strength of the U.S. dollar, international home buyers continue to search, buy and invest in Miami real estate

Colombia registered the most global searches for South Florida real estate, according to new statistics from the MIAMI Association of REALTORS® (MIAMI). The South American nation finished as the top international country using MIAMI’s search portal, http://www.Miamire.com, in February 2016. Colombia has now led the rankings for three consecutive months.

Venezuela and Brazil finished second and third, respectively. Brazil — which posted the most Miamire.com searches for 13 consecutive months through June 2015 — placed third for the first time since November 2013. The February 2016 MIAMI statistics also revealed surging interest from the Philippines, the world’s 12th-most populated country, and the United Kingdom.

“Despite the strength of the U.S. dollar, international home buyers continue to search, buy and invest in Miami real estate,” said Mark Sadek, the 2016 MIAMI Chairman of the Board. “With 51 percent of its population foreign born, Miami has a unique history of welcoming and embracing all cultures. International home buyers feel at home here.”

Colombia: A Top Market for South Florida Real Estate
Colombian home buyers tied with Argentinians in purchasing the third-most Miami real estate among foreign countries, according to the 2015 Profile of International Home Buyers in Miami Association of Realtors Business Areas. Colombia registered 10 percent of all foreign Miami transactions, according to the survey conducted by MIAMI and the National Association of REALTORS. Only Venezuelan (13 percent) and Brazilian (12 percent) buyers purchased more.

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 second-most on South Florida property among foreign buyers. The $516,000 average purchase price of Colombians tied with Argentina and only trailed Brazil ($766,000), according to the 2015 survey.

Interest from Philippines, United Kingdom Grows
Philippine and United Kingdom buyers increased their online interest in South Florida real estate in February 2016. The Philippines have now placed fifth, the country’s highest finish, for three consecutive months. The United Kingdom improved from last month’s eight-place ranking to finish seventh.

The top-10 countries visiting Miamire.com in February 2016:
1.    Colombia                
2.    Venezuela                
3.    Brazil
4.    Argentina                
5.    Philippines                        
6.    Canada                
7.    United Kingdom
8.    India            
9.    Mexico        
10.    France

The top-10 countries visiting Miamire.com in February 2015:
1.    Brazil                
2.    Colombia                
3.    Venezuela
4.    Canada                    
5.    India                        
6.    Argentina            
7.    United Kingdom
8.    Russia            
9.    Philippines
10.    Italy

Texas Tops Domestic Searches for Miami Real Estate
Texas finished as the top U.S. state searching South Florida real estate online in February 2016. Texas has now led the Miamire.com rankings in two of the last three months. California, which led the domestic rankings for 13 consecutive months ending in November 2015, ranked second.

The top-10 U.S. states searching Miamire.com in February
2016: 1) Texas, 2) California, 3) New York, 4) Georgia, 5) Tennessee, 6) Illinois, 7) Michigan, 8) North Carolina, 9) Pennsylvania, 10) Ohio

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

South Florida: The No. 1 Market in the U. S. for International Consumers
The Miami-Fort Lauderdale-West Palm Beach market ranked as the top market in the world for international consumers searching for U.S. real estate in February 2016, according to Realtor.com.

The top-10 markets for overall international real estate demand:
1.    Miami-Fort Lauderdale-West Palm Beach, FL
2.    Los Angeles-Long Beach-Anaheim, CA
3.    Bellingham, WA
4.    Urban Honolulu, HI
5.    Kahului-Wailuku-Lahaina, HI
6.    Orlando-Kissimmee-Sanford, FL
7.    New York-Newark-Jersey City, NY-NJ-PA
8.    Tampa-St. Petersburg-Clearwater, FL
9.    Houston-The Woodlands-Sugar Land, TX
10.    Seattle-Tacoma-Bellevue, WA

South Florida ranked as a top-five market for consumers in nine of the world’s ten-largest regions in February 2016. The Miami-Fort Lauderdale-West Palm Beach metro finished as the most-searched market in five of the regions:

● North America: 1. Chicago-Naperville-Elgin, IL-IN-WI; 2. New York-Newark-Jersey City, NY-NJ-PA; 3. Dallas-Fort Worth-Arlington, TX; 4. Miami-Fort Lauderdale-West Palm Beach, FL; 5. Philadelphia-Camden-Wilmington, PA-NJ-DE-MD
● South America: 1. Miami-Fort Lauderdale-West Palm Beach, FL; 2. Orlando-Kissimmee-Sanford, FL; 3. Los Angeles-Long Beach-Anaheim, CA; 4. New York-Newark-Jersey City, NY-NJ-PA; 5. Dallas-Fort Worth-Arlington, TX
● Northern Europe: 1. Los Angeles-Long Beach-Anaheim, CA; 2. Orlando-Kissimmee-Sanford, FL; 3. Miami-Fort Lauderdale-West Palm Beach, FL; 4. New York-Newark-Jersey City, NY-NJ-PA; 5. Tampa-St. Petersburg-Clearwater, FL
● Australia and New Zealand: 1. Los Angeles-Long Beach-Anaheim, CA; 2. New York-Newark-Jersey City, NY-NJ-PA; 3. Miami-Fort Lauderdale-West Palm Beach, FL; 4. Dallas-Fort Worth-Arlington, TX; 5. Detroit-Warren-Dearborn, MI
● Western Europe: 1. Los Angeles-Long Beach-Anaheim, CA; 2. Miami-Fort Lauderdale-West Palm Beach, FL; 3. New York-Newark-Jersey City, NY-NJ-PA; 4. Tampa-St. Petersburg-Clearwater, FL; 5. San Antonio-New Braunfels, TX
● Caribbean: 1. Miami-Fort Lauderdale-West Palm Beach, FL; 2. Orlando-Kissimmee-Sanford, FL; 3. New York-Newark-Jersey City, NY-NJ-PA; 4. Tampa-St. Petersburg-Clearwater, FL; 5. Atlanta-Sandy Springs-Roswell, GA
● Southern Europe: 1. Miami-Fort Lauderdale-West Palm Beach, FL; 2. Los Angeles-Long Beach-Anaheim, CA; 3. New York-Newark-Jersey City, NY-NJ-PA; 4. Chicago-Naperville-Elgin, IL-IN-WI; 5. Washington-Arlington-Alexandria, DC-VA-MD-WV
● Eastern Asia: 1. Los Angeles-Long Beach-Anaheim, CA; 2. New York-Newark-Jersey City, NY-NJ-PA; 3. Washington-Arlington-Alexandria, DC-VA-MD-WV; 4. Dallas-Fort Worth-Arlington, TX; 5. Atlanta-Sandy Springs-Roswell, GA
● Western Asia: 1. Miami-Fort Lauderdale-West Palm Beach, FL; 2. Los Angeles-Long Beach-Anaheim, CA; 3. New York-Newark-Jersey City, NY-NJ-PA; 4. Houston-The Woodlands-Sugar Land, TX; 5. Dallas-Fort Worth-Arlington, TX
● Eastern Europe: 1. Miami-Fort Lauderdale-West Palm Beach, FL; 2. Los Angeles-Long Beach-Anaheim, CA; 3. New York-Newark-Jersey City, NY-NJ-PA; 4. Chicago-Naperville-Elgin, IL-IN-WI; 5. Orlando-Kissimmee-Sanford, FL

About the MIAMI Association of REALTORS®
The MIAMI Association of REALTORS® was chartered by the National Association of Realtors in 1920 and is celebrating 96 years of service to Realtors, the buying and selling public, and the communities in South Florida. Comprised of six organizations, the Residential Association, the Realtors Commercial Alliance, the Broward Council, the Jupiter Tequesta Hobe Sound (JTHS) Council, the Young Professionals Network (YPN) Council and the award-winning International Council, it represents more than 42,000 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 136 international organizations worldwide. MIAMI’s official website is http://www.miamire.com

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