Colombia Leads Miami Real Estate Searches for 10th Consecutive Month

Miami: The Most-Searched U.S. Market

MIAMI – (RealEstateRama) — Colombia remains the top foreign country 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 September 2016. Colombia has now led the MIAMI rankings for 10 consecutive months.

Canada and Brazil increased their interest in Miami real estate as New York maintained its position as the top U.S. state seeking local property. South Florida remains the most searched U.S. market for international consumers, according to September statistics from Realtor.com.

“Colombians love Miami’s modern and outdoor lifestyle but they are not alone,” said Mark Sadek, the 2016 MIAMI Chairman of the Board. “Miami is America’s top international destination. We are seeing an increasing number of nationalities and ethnicities purchasing property and starting businesses in our modern, multicultural city.”

Colombia: A Top Market for South Florida Real Estate
Miami-Dade County has the largest concentration of Colombian natives in the country, with 114,701 living in the area, according to the 2010 U.S. Census. Broward County (66,517) and Palm Beach County (22,980) rank third and fifth, respectively.

In its continued efforts to promote Miami real estate around the world, MIAMI made a Miami market presentation and distributed South Florida informational brochures at Colombia’s most influential property showcase earlier this year. 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.

Canada and Brazil Increase Interest in Miami Real Estate
Canada, America’s northern neighbor, registered its most Miami real estate searches since September 2014. Canadian consumers finished with the second-most Miami searches for property.

Brazil, which had led these rankings from June 2014 through June 2015, moved up the rankings and posted the third-most web searches for Miami real estate in September 2016. Brazilian consumers had the fourth-most web searches among foreign countries in August 2016.

The top-10 countries visiting Miamire.com in September 2016:

1. Colombia
2. Canada
3. Brazil
4. Venezuela
5. Argentina
6. India
7. Spain
8. Philippines
9. United Kingdom
10. France

The top-10 countries visiting Miamire.com in September 2015:

1. Brazil
2. Venezuela
3. Argentina
4. Israel
5. Colombia
6. Canada
7. India
8. France
9. Ecuador
10. Philippines

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

Miami’s all-year sunny weather and growing world-class amenities are also attracting significant interest from Texas, Georgia and California.

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

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

South Florida is the Most Searched U.S. Market by International Consumers
Miami-Fort Lauderdale-West Palm Beach finished as the most searched U.S. market for international consumers in September, according to Realtor.com. Miami has ranked No. 1 in nine of the last 10 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. Santa Cruz-Watsonville, CA
5. New York-Newark-Jersey City, NY-NJ-PA
6. Orlando-Kissimmee-Sanford, FL
7. Kahului-Wailuku-Lahaina, HI
8. Urban Honolulu, HI
9. Tampa-St. Petersburg-Clearwater, FL
10. Naples-Immokalee-Marco Island, FL

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

● North America: 1. New York-Newark, NY-NJ-PA; 2. Chicago, IL-IN-WI; 3. Dallas-Fort Worth-Arlington, TX; 4. Philadelphia et al, 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, CA; 4. New York-Newark, NY-NJ-PA; 5. Tampa-St. Petersburg, FL

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● Northern Europe: 1. Los Angeles-Long Beach, CA; 2. New York-Newark, NY-NJ-PA; 3. Orlando-Kissimmee-Sanford, FL; 4. Miami-Fort Lauderdale-West Palm Beach, FL; 5. Tampa-St. Petersburg, FL
● Australia and New Zealand: 1. Los Angeles-Long Beach, CA; 2. New York-Newark, NY-NJ-PA; 3. San Francisco-Oakland, CA; 4. Chicago, IL-IN-WI; 5. Miami-Fort Lauderdale-West Palm Beach, FL
● Western Europe: 1. Los Angeles-Long Beach, CA; 2. Miami-Fort Lauderdale-West Palm Beach, FL; 3. New York-Newark, NY-NJ-PA; 4. Tampa-St. Petersburg, FL; 5. Dallas-Fort Worth-Arlington, TX
● Caribbean: 1. Miami-Fort Lauderdale-West Palm Beach, FL; 2. Orlando-Kissimmee-Sanford, FL; 3. New York-Newark et al, NY-NJ-PA; 4. Tampa-St. Petersburg, FL; 5. Port St. Lucie, FL
● Southern Europe: 1. Miami-Fort Lauderdale-West Palm Beach, FL; 2. Los Angeles-Long Beach, CA; 3. New York-Newark, NY-NJ-PA; 4. Santa Cruz-Watsonville, CA; 5. Boston-Cambridge-Newton, MA-NH
● Eastern Asia: 1. Los Angeles-Long Beach, CA; 2. New York-Newark, NY-NJ-PA; 3. San Francisco-Oakland, CA; 4. Washington, DC-VA-MD-WV; 5. San Diego-Carlsbad, CA
● Western Asia: 1. Miami-Fort Lauderdale-West Palm Beach, FL; 2. New York-Newark, NY-NJ-PA; 3. Los Angeles-Long Beach, CA; 4. Houston-The Woodlands, TX; 5. Chicago, IL-IN-WI
● Eastern Europe: 1. Miami-Fort Lauderdale-West Palm Beach, FL; 2. Los Angeles-Long Beach, CA; 3. New York-Newark, NY-NJ-PA; 4. Chicago, IL-IN-WI; 5. Santa Cruz-Watsonville, CA