Miami, FL (PRWEB)January 30, 2017
Russia is the most-active country searching Miami real estate for the first time since the MIAMI Association of REALTORS® (MIAMI) began tracking search data in 2013. Russia registered the most South Florida property searches among all countries on MIAMI’s portal, http://www.Miamire.com, in November 2016. Colombia and Venezuela finished second and third, respectively.
“Miami’s emergence as one of the world’s top cities is attracting buyers from a greater array of countries than before,” said Christopher Zoller, the 2017 MIAMI Chairman of the Board. “Russian consumers and home buyers and investors from China to Canada want to own a piece of Miami real estate because Miami is young, multicultural, modern and economically diverse.”
The Miami city of Sunny Isles Beach, for instance, has a large Russian population and is known as “Little Moscow” for its propensity of Russian-owned delis, restaurants, beauty spas, supermarkets and real estate companies. About 7.4 percent of Sunny Isles residents list Russian as their first language, according to the U.S. Census.
Vladislav Doronin, who owns 7 million square meters of real estate in Moscow, is one Russian developer who has spent significantly on Miami real estate, including paying $54 million for a waterfront two-acre parcel in Edgewater in November 2016.
Some investors see President-Elect Donald Trump’s election in November as a sign that relations between Russia and the U.S. may soon improve. The number of Russians who have expressed interest in buying luxury properties in the United States has increased by 35 percent over the previous year after Trump’s victory, according to global real estate consultancy Knight Frank.
Canada Continues Searching Miami Real Estate
Canada finished with the fifth-most web searches for Miami real estate in November 2016. The ranking comes on the heels of its first place finish in October and second place finish in September.
Miami’s tropical weather, resort lifestyle and world-class shopping attract Canadians. Before the winter arrives in Canada, these Canadian “snowbirds” relocate to their Miami and Fort Lauderdale homes and live up to six months here. More than a million Canadians over 55 years old have adopted the “snowbird” lifestyle, spending the winter months in Florida.
Canadian consumers buy the fourth-most South Florida real estate among all foreign countries. The North American nation registered 6 percent of all South Florida international sales last year, according to the 2016 Profile of International Home Buyers of MIAMI Association of REALTORS® Members
Among all international buyers, Canadians spend the most on South Florida real estate. About 81 percent of Canadian buyers paid all-cash for South Florida real estate in 2016. Argentina (78 percent), Colombia (71 percent), Venezuela (71 percent) and Brazil (65 percent) trailed Canada in cash sales.
The top-10 countries visiting Miamire.com in November 2016:
1. Russia
2. Colombia
3. Venezuela
4. Argentina
5. Canada
6. Brazil
7. India
8. Philippines
9. Spain
10. United Kingdom
The top-10 countries visiting Miamire.com in November 2015:
1. Brazil
2. Venezuela
3. Argentina
4. Colombia
5. Russia
6. India
7. Canada
8. Philippines
9. Mexico
10. United Kingdom
New York Leads All States in Miami Real Estate Searches
For the seventh consecutive month, New York registered the most domestic Miami web searches.
The top-10 U.S. states searching Miamire.com in November
2016: 1) New York, 2) Georgia, 3) Texas, 4) California, 5) Illinois, 6) District of Columbia, 7) Virginia, 8) New Jersey, 9) Massachusetts, 10) North Carolina
2015: 1) California, 2) Texas, 3) Georgia, 4) New York, 5) Virginia, 6) Illinois, 7) Michigan, 8) Tennessee 9) South Carolina, 10) Ohio
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 November, according to Realtor.com. Miami has ranked No. 1 in 11 of the last 12 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. Urban Honolulu, HI
6. Orlando-Kissimmee-Sanford, FL
7. Kahului-Wailuku-Lahaina, HI
8. El Centro, CA
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 November 2016. South Florida finished as the most-searched market in South America, the Caribbean 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. 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. 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. Chicago-Naperville-Elgin, IL-IN-WI; 5. Miami-Fort Lauderdale-West Palm Beach, FL
-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. New York-Newark-Jersey City, NY-NJ-PA; 2. Miami-Fort Lauderdale-West Palm Beach, FL; 3. Los Angeles-Long Beach-Anaheim, CA; 4. Tampa-St. Petersburg-Clearwater, FL; 5. Phoenix-Mesa-Scottsdale, AZ
-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. San Francisco-Oakland-Hayward, CA; 5. Dallas-Fort Worth-Arlington, TX
-Western Asia: 1. Miami-Fort Lauderdale-West Palm Beach, FL; 2. New York-Newark-Jersey City, NY-NJ-PA; 3. Los Angeles-Long Beach-Anaheim, CA; 4. Dallas-Fort Worth-Arlington, TX; 5. Houston-The Woodlands-Sugar Land, TX
-Eastern Europe: 1. Los Angeles-Long Beach-Anaheim, CA; 2. New York-Newark-Jersey City, NY-NJ-PA; 3. Miami-Fort Lauderdale-West Palm Beach, FL; 4. Chicago-Naperville-Elgin, IL-IN-WI; 5. Tampa-St. Petersburg-Clearwater, 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 97 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 nearly 45,000 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 160 international organizations worldwide. MIAMI’s official website is http://www.miamire.com
