Colombia Tops All Global Searches for South Florida Real Estate in March; Miami is Most-Searched Market on Realtor.com

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Colombia leads all foreign countries in searching online for South Florida real estate, according to new data from the MIAMI Association of REALTORS® (MIAMI)

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

South Florida offers everything an international home buyer wants

Colombia leads all foreign countries in searching online for South Florida real estate, according to new data 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 March 2016. Colombia has now led the rankings for four consecutive months.

Venezuela and the United Kingdom finished second and third, respectively. It is the United Kingdom’s highest finish in the monthly MIAMI property search statistics. Home buyers in the United Kingdom — comprised of England, Scotland, Wales and Northern Ireland — are attracted by South Florida’s weather, world-class amenities and diversified economy.

“South Florida offers everything an international home buyer wants,” said Mark Sadek, the 2016 MIAMI Chairman of the Board. “Miami is an affordable world-class city with arts and culture, a thriving downtown, a diverse economy and a budding mass transit system. International home buyers have long searched, bought and invested in Miami real estate and will continue to do so.”

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 South Florida 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.

Surging Interest from the United Kingdom
The United Kingdom, which boasts the 22nd largest population in the world with 64.1 million residents, had never finished among the top-three foreign countries searching for Miami real estate. In March 2016, the UK improved for February’s seventh-place finish to No. 3.

United Kingdom home buyers are no stranger to Miami real estate transactions. The UK had the eighth-most South Florida real estate transactions (2 percent) among foreign countries in 2015.

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

The top-10 countries visiting Miamire.com in March 2015:
1.    Brazil                
2.    Colombia                
3.    Venezuela
4.    Canada                    
5. Argentina                        
6. France            
7.    India
8.    Mexico            
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 March 2016. Texas has now led the Miamire.com rankings in three of the last four months. Georgia, which finished fourth in February 2016, moved into second place for the first time since May 2015.

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

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

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 March 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.    Kahului-Wailuku-Lahaina, HI
5.    Urban Honolulu, 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.    Naples-Immokalee-Marco Island, FL

South Florida ranked as a top-five market for consumers in eight of the world’s ten-largest regions in March 2016. The Miami-Fort Lauderdale-West Palm Beach metro finished as the most-searched market in four 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. New York-Newark-Jersey City, NY-NJ-PA; 4. Los Angeles-Long Beach-Anaheim, CA; 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. Dallas-Fort Worth-Arlington, TX; 4. San Francisco-Oakland-Hayward, CA; 5. Chicago-Naperville-Elgin, IL-IN-WI
● 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. Washington-Arlington-Alexandria, DC-VA-MD-WV; 5. Tampa-St. Petersburg-Clearwater, FL
● Caribbean: 1. Miami-Fort Lauderdale-West Palm Beach, FL; 2. Orlando-Kissimmee-Sanford, FL; 3. Tampa-St. Petersburg-Clearwater, FL; 4. New York-Newark-Jersey City, NY-NJ-PA; 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. Tampa-St. Petersburg-Clearwater, FL
● 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. Chicago-Naperville-Elgin, IL-IN-WI; 5. San Francisco-Oakland-Hayward, CA
● 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. Washington-Arlington-Alexandria, DC-VA-MD-WV
● Eastern Europe: 1. Los Angeles-Long Beach-Anaheim, CA; 2. Miami-Fort Lauderdale-West Palm Beach, FL; 3. Chicago-Naperville-Elgin, IL-IN-WI; 4. New York-Newark-Jersey City, NY-NJ-PA; 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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