Broward Council of the MIAMI Association of REALTORS

                                                                                                     

                

  • MIAMI REALTORS® Launches MIAMI Platinum PLUS for its Members

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    The MIAMI Association of REALTORS® (MIAMI) is now offering its members subscriptions to MIAMI Platinum PLUS, an exclusive and unparalleled suite of upgraded Realtor products and services, so Realtors can utilize an even higher level of industry tools to improve and expand their business while enhancing the home buying and home selling process for the public.
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    May 14, 2018
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  • Miami Luxury Single-Family Home Sales Jump in March

    Apr 23, 2018
    Miami luxury single-family home sales posted double-digit gains as median prices for all properties continued rising in March, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
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    Apr 23, 2018
    South Florida industrial real estate prices increased 11.4 percent year-over-year in the 4Q 2017 and the Miami-Dade, Broward and Palm Beach tri-county region posted its second highest industrial transaction volume for the year,
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  • Patricia Anglero Elected 2018 Broward President of the MIAMI Realtors

    Apr 07, 2018
    The MIAMI Association of REALTORS® (MIAMI) has elected Fort Lauderdale broker Patricia C. Anglero as its 2018 Broward Council president. She and all of MIAMI’s leadership boards were installed Feb. 2 at the MIAMI 2018 Inaugural and Awards Celebration.
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  • MIAMI REALTORS Commercial Partners with Research and Data Firm Vizzda to Provide South Florida Commercial Statistics Reports

    Apr 05, 2018
    MIAMI Association of Realtors Commercial (MIAMI Commercial) has formed a strategic alliance with Vizzda (Visual Data) to provide The Quarterly Report – South Florida Commercial Real Estate, which will offer comprehensive commercial research and statistics to MIAMI’s 46,000 members and the consumers they serve.
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  • MIAMI Realtors Commercial Association Rebrands as MIAMI Commercial

    Apr 05, 2018
    The MIAMI Association of REALTORS® (MIAMI) has rebranded its commercial real estate organization, to MIAMI Commercial. MIAMI Commercial’s new name and logo is part of MIAMI’s successful expansion of the commercial reach of the Miami Association of Realtors that enhances the 25-year-old organization, which was formerly the Realtors Commercial Alliance MIAMI (RCA MIAMI).
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  • Miami Condo, Luxury Home Sales Rise in February  

    Mar 21, 2018
    Miami existing condominium and total luxury home sales increased in February, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
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  • Miami Realtors Expands Presence of South Florida Real Estate at Global Expo

    Mar 14, 2018
    The MIAMI Association of REALTORS® (MIAMI) has increased its presence by 400 percent at the world’s largest commercial real estate conference, MIPIM. MIAMI Realtors will have exhibits promoting South Florida at MIPIM from March 13-16 in Cannes, France as part of the National Association of REALTORS® (NAR) expanded U.S. pavilion. This year, MIAMI has significantly expanded the U.S. and MIAMI/South Florida presence by adding its own adjacent exhibit space.
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  • Colombia Leads Countries Looking for Miami Homes in January

    Mar 13, 2018
    Colombian consumers registered the most international web searches for Miami homes in January, according to a new report by the MIAMI Association of REALTORS® (MIAMI). South Florida remains the most-searched U.S. market by international consumers and a top-five market for homebuyers in the world’s six largest regions, according to January data.
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  • Urgent Legal Alert from Florida REALTORS General Counsel

    Mar 06, 2018
    Recently, Florida Realtors became aware of several lawsuits filed against real estate brokers in Miami Dade and Broward counties concerning allegations of discriminatory advertising—a violation of fair housing laws. Specifically, brokers are being sued for discriminating against tenants with Section 8 vouchers. These violations, however, pertain to local ordinances, not the Federal Fair Housing Act. Under these local ordinances, landlords and Realtors are precluded from discriminating against tenants with Section 8 vouchers, as this falls under the protected class "source of income."
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  • Miami Condo, Single-Family Home Sales Jump in January

    Feb 22, 2018
    Miami existing condominium and single-family home sales rose in January as $1 million-and-up luxury transactions jumped for all properties, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
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  • Colombia Tops Countries Looking for Miami Homes

    Feb 20, 2018
    Colombian consumers posted the most web searches among foreign countries for Miami homes in December, according to a new report by the MIAMI Association of REALTORS® (MIAMI). South Florida finished as the most-searched U.S. market by international consumers and is a top-five market for consumers in the world’s six largest regions, according to December data.
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  • Miami Single-Family Homes Post Fifth Biggest Sales Year in History

    Feb 13, 2018
    Miami recorded the fifth-most annual single-family home sales in county history in 2017 as total dollar volume and median prices rose at year-end and in 4Q 2017, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
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  • MIAMI Realtors Releases New 2017 South Florida International Real Estate Report

    Feb 08, 2018
    Foreign home buyers spent more on South Florida homes and purchased more local residential properties in 2017 than the year before, according to the new 2017 Profile of International Home Buyers of MIAMI Association of REALTORS® (MIAMI) Members conducted by MIAMI and the National Association of Realtors (NAR).
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  • Jorge L. Guerra Jr. Elected 2018 MIAMI Realtors Residential President

    Feb 06, 2018
    The nation’s largest local Realtor association has elected Miami broker Jorge L. Guerra Jr. as its 2018 Residential President. He and the entire Board of Directors were installed Feb. 2 at the MIAMI Association of REALTORS® (MIAMI) 2018 Inaugural and Awards Celebration.
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  • MIAMI Realtors to Honor South Florida Real Estate Industry Leaders

    Feb 06, 2018
    he MIAMI Association of REALTORS® (MIAMI) will honor South Florida real estate’s industry leaders with its 2017 MIAMI Awards at its 2018 Inaugural & Awards Celebration today. “From educator of the year to humanitarian of the year to public policy advocates, the MIAMI Awards honors individuals and groups that made the real estate industry and all of South Florida a better place,” MIAMI CEO Teresa King Kinney said.
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  • Miami Native Brian Sharpe to Lead MIAMI Commercial Realtors

    Feb 06, 2018
    The Realtors Commercial Alliance of the MIAMI Association of REALTORS® (MIAMI) has elected Miami native Brian Sharpe as its 2018 president. He and the 2018 RCA Board of Governors were installed Feb. 2 at MIAMI’s 2018 Inaugural and Awards Celebration.
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  • MIAMI Realtors to Honor South Florida Real Estate Industry Leaders

    Feb 02, 2018
    The MIAMI Association of REALTORS® (MIAMI) will honor South Florida real estate’s industry leaders with its 2017 MIAMI Awards at its 2018 Inaugural & Awards Celebration today.
    Full story

Canadian Buyers a Top Market for South Florida Real Estate

by | Sep 02, 2015

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Canadian home buyers purchase the fifth-most South Florida real estate among all foreign countries, according to the 2014 Survey of International Home Purchases conducted by the National Association of REALTORS® (NAR) for the MIAMI Association of REALTORS® (MIAMI). The North American nation of 35 million residents registered 7 percent of all foreign South Florida deals last year. Venezuela, Argentina, Brazil and Colombia comprise South Florida's top-four foreign markets.

Miami's tropical climate, resort lifestyle, global business center, and world-class shopping are some reasons why Canadians are buying properties and relocating their families here. The top list of South Florida international buyers in 2014:

Country Percentage of South Florida foreign sales
1. Venezuela 16%
2. Argentina 12%
3. Brazil 11%
4. Colombia 8%
5. Canada 7%
6. France 5%
7. Mexico 4%
8. Italy 3%
8. Ecuador 3%
8. Peru 3%
8. Spain 3%

Canadians Lead All Foreign Buyers in Broward County
Canadians registered 18 percent of all foreign real estate purchases in Broward County, the most among all global consumers. Venezuela and Argentina rank second and third, respectively, in Broward with 16 and 13 percent of all deals.

Canadians have a lower percentage of purchases in Miami-Dade County, accounting for 5 percent of all foreign transactions. Canadians rank sixth among global consumers in Miami-Dade. With 17 percent of all global transactions, Venezuela ranks as the top market in Miami-Dade.

Canadians spend the sixth-highest purchase price on South Florida properties among all foreigners, spending $310,000 on average. The average sale price for all buyers in Florida is $245,000.

  Country Avg. Purchase Price for
South Florida Real Estate
1 Brazil $495,000
2 France $424,000
3 Colombia $420,000
4 Venezuela $378,000
5 Argentina $372,000
6 Canada $310,000

All-Cash Buyers
About 84 percent of all Canadian buyers pay all-cash for South Florida real estate. That ties for third with Venezuela among all international Miami buyers. France (96 percent) has the highest percentage. Argentina (88 percent), Venezuela (84 percent), Brazil (77 percent) comprise the rest of the top-four.

About 81 percent of international buyers in Miami and Broward Counties paid all-cash, compared to 60 percent of international buyers purchasing across the U.S.

Canadians Prefer to Buy Condos in Resort Areas
About 38 percent of Canadian clients bought in resort areas, the highest area recorded. About 31 percent of Canadians bought in central city and another 31 percent bought in suburban areas. In terms of type of property, condos/apartments were the top choice. About 82 percent of Canadians bought South Florida condos. Only 12 percent purchased single-family homes; 6 percent made townhome buys.

Vacation Homes are a Big Draw for Canadians
Most Canadian buyers intend to use their South Florida properties for vacation reasons, according to the 2014 Survey of International Home Purchases conducted by NAR for MIAMI. About 39 percent of South Florida Canadian buyers said they desired a vacation home. About 35 percent wanted a vacation and rental property; 16 percent wanted a rental for investment, 3 percent bought for retirement, and 3 percent listed unknown reasons.
About 52 percent of Canadian buyers intended to use their South Florida property for three to six months. About 19 percent planned one to two months of use, 13 percent said less than a month, six percent listed more than six months, and 15 percent listed unknown time period.

All-Year Sunny Weather
South Florida's tropical climate is one of the top draws for Canadians. With an average temperature of 75 Fahrenheit/ 23 Celsius, Miami is the only major "subtropical" city in the continental U.S. In comparison, the average annual temperature in Canada's capital of Ottawa is a balmy 51.62 Fahrenheit/ 10.9 Celsius, according to Environment Canada data.

February weather shows an even greater disparity between Miami and Canada's capital city. On Feb. 15, 2015, Miami registered a high of 76 degrees. On the same day in Ottawa, overnight temperatures plummeted to minus-13 Fahrenheit/minus-25 Celsius.

The disparity in weather is one reason why many retired Canadians purchase second homes in South Florida. Before the winter arrives in Canada, these "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.

Outdoor activities
South Florida's all-year warm weather and miles of coastline allows for a bevy of outdoor and boating activities. Greater Miami has 84 miles of Atlantic Ocean coastline & 67 square miles of inland waterways & more than 15 miles of world-famous beaches. Miami is a leading global city with many resort qualities. Look no further than its cruise industry. Nicknamed the "Cruise Capital of the World," South Florida cruise lines serve more than 4 million passengers a year.

Fort Lauderdale in Broward County enjoys a reputation as one of the globe's preeminent international yachting centers. The city's network of canals makes it a boat lover's dream. The draw is just one reason why Canadians lead all foreign buyers in Broward County.

World-Class Amenities
With world-class amenities like the Pérez Art Museum Miami and the Adrienne Arsht Center for the Performing Arts in downtown Miami and four major professional sports teams, South Florida offers international and domestic buyers a bevy of culture, arts, and entertainment. Basketball's Miami Heat, baseball's Miami Marlins and football's Miami Dolphins have each won championships.

South Florida' professional hockey team, the NHL's Florida Panthers, play their home games in Broward County. This is a big lure for residents from Canada as hockey is the national sport there. Broward is also home to the Broward Center for the Performing Arts.

Direct Flights
Miami International Airport (MIA) offers more than 215 non-stop flights to 147 cities, including 95 international destinations. Fort Lauderdale-Hollywood International Airport (FLL) offers non-stop flights to more than 100 cities, including 50 foreign stops.

Boosting the Market
Miami's growing number of international home buyers have benefited the region and its residents. The buyers have enriched Miami's culture, helped turn our region into a year-round destination, inspired commercial and residential development, and helped lure some of the world's top entrepreneurs and international businesses.

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