Colombia is Top Foreign Country Searching South Florida Real Estate
Miami is Most-Searched U.S. Market by International Consumers
MIAMI – June 20, 2016 – (RealEstateRama) — 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, www.Miamire.com, in April 2016. Colombia has now led the rankings for five consecutive months.
The new MIAMI rankings show surging interest from Israel and India, and a new domestic leader. Georgia registered the most searches of Miami real estate among U.S. states. South Florida is the No. 1 U.S. market for international consumers in April 2016, according to Realtor.com.
“South Florida is known around the world for embracing all cultures,” said Mark Sadek, the 2016 MIAMI Chairman of the Board. “Foreign-born residents love Miami. Their passion is visible in our monthly property searches and in Realtor.com global searches, which continue to show South Florida as the most-searched U.S. market by international consumers.”
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 Israel, India
Israel (population: 8.06 million) posted the fourth-most searches of South Florida real estate in April. It was the country’s highest finish since it took fourth in September 2015. India (population: 1.25 billion) finished sixth for the second consecutive month.
The top-10 countries visiting Miamire.com in April 2016:
Colombia
Venezuela
Argentina
Israel
Brazil
India
Canada
Philippines
Spain
Peru
The top-10 countries visiting Miamire.com in April 2015:
Brazil
Colombia
Canada
Venezuela
Argentina
India
France
Puerto Rico
Philippines
Ecuador
Georgia Tops Domestic Searches for Miami Real Estate
Georgia, which had been climbing the ranks in recent months and finished second in March, moved ahead of New York for the most South Florida web searches in April 2016.
The top-10 U.S. states searching Miamire.com in April
2016: 1) Georgia, 2) New York, 3) Texas, 4) California, 5) Tennessee, 6) Illinois, 7) Ohio, 8) Indiana, 9) North Carolina, 10) Michigan
2015: 1) California, 2) Texas, 3) Georgia, 4) New York, 5) Illinois, 6) Michigan, 7) Tennessee, 8) Pennsylvania, 9) North Carolina, 10) Louisiana
South Florida: The Top-Ranked U.S. Market for International Consumers
The Miami-Fort Lauderdale-West Palm Beach market once again ranked as the top U.S. market for international consumers in April 2016, according to Realtor.com.
The top-10 markets for overall international real estate demand:
Miami-Fort Lauderdale-West Palm Beach, FL
Los Angeles-Long Beach-Anaheim, CA
Bellingham, WA
New York-Newark-Jersey City, NY-NJ-PA
Orlando-Kissimmee-Sanford, FL
Urban Honolulu, HI
Tampa-St. Petersburg-Clearwater, FL
Kahului-Wailuku-Lahaina, HI
Houston-The Woodlands-Sugar Land, TX
San Francisco-Oakland-Hayward, CA
South Florida ranked as a top-five market for consumers in eight of the world’s ten-largest regions in April 2016. South Florida 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. 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. New York-Newark-Jersey City, NY-NJ-PA; 4. Los Angeles-Long Beach-Anaheim, CA; 5. Tampa-St. Petersburg-Clearwater, FL
● Northern Europe: 1. Los Angeles-Long Beach-Anaheim, CA; 2. Orlando-Kissimmee-Sanford, FL; 3. New York-Newark-Jersey City, NY-NJ-PA; 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. Waco, TX; 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. San Antonio-New Braunfels, TX; 5. Washington-Arlington-Alexandria, DC-VA-MD-WV
● 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. 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. Washington-Arlington-Alexandria, DC-VA-MD-WV; 4. Dallas-Fort Worth-Arlington, TX; 5. San Francisco-Oakland-Hayward, CA
● Western Asia: 1. Miami-Fort Lauderdale-West Palm Beach, FL; 2. New York-Newark-Jersey City, NY-NJ-PA; 3. Houston-The Woodlands-Sugar Land, TX; 4. Los Angeles-Long Beach-Anaheim, CA; 5. Dallas-Fort Worth-Arlington, TX
● 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
