MIAMI – June 2, 2015 – (RealEstateRama) — South America’s largest nation continues to be the top foreign country searching for South Florida real estate on the MIAMI Association of REALTORS® (MIAMI) website, according to new statistics from the nation’s largest local Realtor group. For the 11th consecutive month, Brazil led all global consumers using MIAMI’s search portal, Miamire.com, in April 2015.
Brazil has been the top foreign country searching for Miami properties in 13 of the last 15 months. The last time Brazil didn’t finish with the most monthly web hits on Miamire.com was May 2014 when Colombia took first.
Colombia finished with the second-most web hits on Miamire.com in April 2015 for the fourth consecutive month. Canada moved ahead of Venezuela to finish in third place for the month. An international city with world-class amenities, Miami has long been a top place for foreign real estate investment. For those facing volatile economies and unstable governments in their homelands, South Florida real estate offers a secure place to invest their money. While Miami residential prices have risen in recent years, the region is still considered inexpensive relative to other similar major global cities such as Paris, Hong Kong, Sao Paolo, and London.
In 2014, Brazilians registered 11 percent of all South Florida international real estate deals, according to a report conducted by the National Association of Realtors for MIAMI. Brazil had the third-most property transactions in Miami and Broward Counties among all global consumers last year, trailing only Venezuela (16 percent) and Argentina (12 percent).
Brazilians moving to South Florida are often upper-middle-class families who want to enjoy their prosperity earned in their homeland as professionals and entrepreneurs. Brazilians spend the most on South Florida properties among foreign consumers, paying an average of $495,000. On average, Miami’s international buyers paid $444,000 per purchase, compared to $245,000 statewide.
The top-10 countries visiting Miamire.com in April 2015:
The top-10 countries visiting Miamire.com in April 2014:
Top U.S. Markets for Miami
Miami is a top choice for consumers in many U.S. markets. The top-10 states for consumers searching Miamire.com in April:
2015: 1) California, 2) Texas, 3) Georgia, 4) New York, 5) Illinois, 6) Michigan, 7) Tennessee, 8) Pennsylvania, 9) North Carolina, 10) Louisiana
2014: 1) California, 2) Georgia, 3) Texas, 4) New York, 5) Illinois, 6) Pennsylvania, 7) Virginia, 8) Ohio, 9) Louisiana, 10) Michigan
Miami Top Market for U.S. and Foreign Consumers
Nationally, Miami is consistently one of the top markets for foreign countries searching for property in the U.S. In April 2015, Miami ranked as a top-five market for 14 of 20 foreign nations searching for real estate on Realtor.com ® and Realtor.com ® International. The top countries (outside the U.S.) where global consumers were most engaged in March 2015 and the top cities they searched were:
*Canada: Los Angeles, Las Vegas, Fort Lauderdale, Miami, Orlando
*United Kingdom: Los Angeles, Miami, New York, Orlando, Kissimmee
Australia: New York, Los Angeles, Las Vegas, San Francisco, Beverly Hills
*Germany: Los Angeles, New York, San Antonio, Miami, Colorado Springs
*Brazil: Orlando, Miami, New York, Los Angeles, Fort Lauderdale
*Mexico: San Diego, San Antonio, El Paso, Miami, Laredo
*France: Miami, Los Angeles, New York, Miami Beach, San Francisco
India: New York, Los Angeles, San Jose, Dallas, Chicago
*Italy: New York, Miami Beach, Miami, Los Angeles, Fort Lauderdale
Japan: San Diego, Honolulu, Los Angeles, Las Vegas, Jacksonville
*Russian Federation: Los Angeles, New York, Miami, San Francisco, Orlando
*Switzerland: Miami, New York, Los Angeles, Miami Beach, Naples
*Netherlands: Los Angeles, New York, Miami, Las Vegas, Houston
South Korea: Los Angeles, New York, Las Vegas, Irvine, Austin
*Spain: Miami, New York, Los Angeles, Boca Raton, Orlando
*Sweden: Los Angeles, New York, Jupiter (FL), Miami, Fort Lauderdale
Philippines: Los Angeles, Las Vegas, New York, Orlando, Houston
*South Africa: New York, Los Angeles, Caroline (VA), Miami, San Francisco
Ireland: Los Angeles, New York, Orlando, San Francisco, San Diego
*Finland: New York, Parkland (FL), Los Angeles, Miami, Lake Worth (FL)
*Denotes countries that have Miami as a top-five market for real estate searches
In April 2015, Miami ranked third among the top-10 overall most searched U.S. cities by non-U.S. consumers. Fort Lauderdale ranked sixth.
Top 10 U.S. Cities Searched by International Consumers for April 2015:
Los Angeles, CA
New York, NY
Las Vegas, NV
Fort Lauderdale, FL
San Francisco, CA
San Diego, CA