International Council of the MIAMI Association of REALTORS

     

                

International Articles and Advertisements

The MIAMI Association of REALTORS® features a half-page article each week in The Miami Herald –International Edition, promoting MIAMI Members and the South Florida real estate market to affluent consumers in Latin America and Europe.

  • South Florida is Top U.S. Destination for Foreign Buyers purchasing in Florida

    by | Feb 15, 2017
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    Miami-Fort Lauderdale-West Palm Beach is once again the top destination for foreign buyers purchasing in Florida as its international purchases accounted for 52 percent of the Sunshine State’s foreign buyers, according to the 2016 Profile of International Residential Real Estate Activity in Florida conducted by the National Association of REALTORS® (NAR).

    South Florida’s share of foreign buyers is higher than its 31 percent share of Florida’s existing home sales. The region’s all-year sunny weather, resort lifestyle, global business center, multicultural and multilingual community and proximity to Latin America are some of the reasons why international home buyers purchase here.

    About 51 percent of Miami residents are foreign born, according to the U.S. Census Bureau.

    Destinations of the top-five foreign buyers
    South Florida finished as the top destination for four of the top-five foreign buyers in Florida, according to the 2016 survey.

    South Florida ranked No. 1 for Argentinian residential buyers (79% buy in Miami), Brazilian buyers (69%), Canadian (36%) and Venezuelan (80%). Miami-Fort-Lauderdale-West Palm Beach ranked No. 2 for United Kingdom residential buyers with 15 percent; Orlando-Kissimmee-Sanford finished first (29%).

    Top Buyers by Metro Area
    Foreign buyers tend to concentrate in an area for a variety of reasons such as geographic proximity, cultural similarities, investment opportunities, and the presence of family or friends, according to the survey.

    Latin American and Caribbean buyers were the major buyers in the metropolitan statistical areas of Miami-Fort Lauderdale-West Palm Beach, Orlando-Kissimmee-Sanford, and Port St. Lucie.

    Europeans and Canadians (North America) comprised the bulk of foreign buyers in the metropolitan statistical areas of Cape Coral-Fort Myers, Naples-Immokalee-Marco Island, North Point-Sarasota-Bradenton, Tampa-St. Petersburg-Clearwater, and All Other Areas.

    Buyers from Asia and Oceania and Europe were the largest groups of buyers in the metropolitan statistical area of Jacksonville.

    Florida’s Major Foreign Buyers
    Florida remained the top destination of foreign buyers purchasing U.S. residential properties in 2016, and South Florida remains the top region for international investment, according to the 2016 Profile of International Residential Real Estate Activity in Florida.

    Florida accounted for 22 percent of all foreign buyers who purchased residential property in the United States, according to the survey.

    Florida’s foreign buyers come from many countries, and the top five countries of origin by dollar volume were Canada ($3.0B), Brazil ($2.8B), Venezuela ($1.5B), the United Kingdom ($1.4B), and Argentina ($1.4B).
    Canada led all foreign buyers purchasing in Florida, capturing 18.9 percent of all international sales in the Sunshine State.

    Florida’s top-12 major foreign buyers
    Canada 18.9%
    Brazil 8.7%
    Venezuela 7.8%
    United Kingdom 6.2%
    Argentina 6.0%
    Colombia 5.2%
    China 3.5%
    Italy 2.9%
    France 2.3%
    Peru 2.0%
    Mexico 2.0%

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  • Russia is Top International Country Searching Miami Real Estate Miami Remains the Most-Searched U.S. Market Globally

    by | Feb 08, 2017
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    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, 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 in 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 6. Brazil
    2. Colombia 7. India
    3. Venezuela 8. Philippines
    4. Argentina 9. Spain
    5. Canada 10. United Kingdom

    The top-10 countries visiting Miamire.com
    in November 2015:
    1. Brazil 6. India
    2. Venezuela 7. Canada
    3. Argentina 8. Philippines
    4. Colombia 9. Mexico
    5. Russia 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
    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, PA
    5. Miami-Fort Lauderdale-West Palm Beach

    - South America:
    1. Miami-Fort Lauderdale-West Palm Beach
    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
    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

    - Western Europe:
    1. Los Angeles-Long Beach-Anaheim, CA;
    2. Miami-Fort Lauderdale-West Palm Beach
    3. New York-Newark-Jersey City, NY-NJ-PA;
    4. Tampa-St. Petersburg-Clearwater, FL;
    5. Washington, DC

    - Caribbean:
    1. Miami-Fort Lauderdale-West Palm Beach
    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
    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, DC
    4. San Francisco-Oakland-Hayward, CA
    5. Dallas-Fort Worth-Arlington, TX

    - Western Asia:
    1. Miami-Fort Lauderdale-West Palm Beach
    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
    4. Chicago-Naperville-Elgin, IL-IN-WI
    5. Tampa-St. Petersburg-Clearwater, FL

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