Colombia Remains the Most Active Country Searching Miami Real Estate; Miami: The Most Searched U.S. Market

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Colombia continues to lead all foreign countries searching 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

From South America to Europe to China to all over the globe, foreign home buyers feel at home in Miami

Colombia continues to lead all foreign countries searching 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 July 2016. Colombia has now led the MIAMI rankings for eight consecutive months.

Spain and Israel increased their interest in Miami real estate as New York maintained its position as the top U.S. state seeking local property. South Florida, meanwhile, finished as the most searched U.S. market for international consumers in July, according to Realtor.com.

“It is no surprise Miami is the most searched U.S. market for international home buyers,” said Mark Sadek, the 2016 MIAMI Chairman of the Board. “Miami welcomes and embraces all cultures. From South America to Europe to China to all over the globe, foreign home buyers feel at home in Miami.”

Colombia: A Top Market for South Florida Real Estate
In its continued efforts to promote Miami real estate around the world, MIAMI made a Miami market presentation at Colombia’s most influential property showcase. The Gran Salón Inmobiliario — held Aug. 25-28 in Bogotá, Colombia — attracted more than 30,000 visitors and 200 exhibitors.

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.

Spain and Israel Increase Interest in Miami Real Estate
For the third consecutive month, Spain ranked among the top-six foreign countries for Miami real estate searches. Spain’s fifth-place ranking in July tied for the country’s highest position in the rankings (also fifth in May 2016). Israel also tied for its highest-ever finish in the MIAMI rankings. Israel had the eighth-most web searches in May 2016.

The top-10 countries visiting Miamire.com in July 2016:
1.    Colombia                
2.    Brazil                
3.    Venezuela
4.    Argentina            
5.    Spain                    
6.    Canada                
7.    Italy
8.    Israel
9.    India    
10.    Peru

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

New York Leads All States in Searching for Miami Real Estate
For the third consecutive month, New York registered the most domestic Miami web searches.

Miami’s all-year sunny weather and growing world-class amenities are attracting more interest from Northeastern states. The District of Columbia, also in the Northeast, is another emerging market for Miami real estate. The nation’s capital registered the seventh-most web searches of South Florida real estate in July 2016.

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

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

South Florida is the Most Searched U.S. Market
Miami-Fort Lauderdale-West Palm Beach finished as the most searched U.S. market for international consumers in July, according to Realtor.com. Miami has ranked No. 1 in eight of the last nine months.

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

South Florida ranked as a top-five market for consumers in eight of the world’s ten-largest regions in July 2016. South Florida finished as the most-searched market in four regions (South America, Caribbean, Southern Europe and Western Asia).

● North America: 1. New York-Newark-Jersey City, NY-NJ-PA; 2. Chicago-Naperville-Elgin, IL-IN-WI; 3. Dallas-Fort Worth-Arlington, TX; 4. Philadelphia-Camden-Wilmington, PA-NJ-DE-MD; 5. Miami-Fort Lauderdale-West Palm Beach, FL
● 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. Tampa-St. Petersburg-Clearwater, FL
● Northern Europe: 1. Los Angeles-Long Beach-Anaheim, CA; 2. New York-Newark-Jersey City, NY-NJ-PA; 3. Orlando-Kissimmee-Sanford, FL; 4. Miami-Fort Lauderdale-West Palm Beach, FL; 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. Houston-The Woodlands-Sugar Land, TX
● 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. Washington-Arlington-Alexandria, DC-VA-MD-WV
● 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. Tampa-St. Petersburg-Clearwater, FL; 5. Chicago-Naperville-Elgin, IL-IN-WI
● Eastern Asia: 1. Los Angeles-Long Beach-Anaheim, CA; 2. New York-Newark-Jersey City, NY-NJ-PA; 3. Dallas-Fort Worth-Arlington, TX; 4. Washington-Arlington-Alexandria, DC-VA-MD-WV; 5. San Diego-Carlsbad, 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. Dallas-Fort Worth-Arlington, TX
● Eastern 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. 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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