Broward Council of the MIAMI Association of REALTORS

                                                                                                     

                

  • MIAMI Commercial & Expo to Explore Industry Trends and Opportunities

    Oct 17, 2018
    The MIAMI Association of Realtors Commercial (MIAMI Commercial) will present its 18th annual Commercial Conference & Expo on Friday, Oct. 19 at the Biltmore Hotel in Coral Gables. Five panels and sessions with more than 15 speakers will analyze the latest trends and opportunities in the South Florida commercial real estate market.
    Full story
  • MIAMI Realtors to Showcase South Florida Real Estate at Paris Expo

    Oct 11, 2018
    The MIAMI Association of REALTORS® (MIAMI) along with partner association FNAIM Gran Paris will again promote South Florida’s lifestyle and real estate market at one of France’s largest property showcases, Salon National de L’Immobilier, on Oct. 12-14 in Paris. MIAMI will make several South Florida market presentations at the expo, which is expected to attract 7,000 visitors and 70 exhibitors.
    Full story
  • Delegates from Six Countries Confirmed for MIAMI International Real Estate Congress

    Oct 10, 2018
    Delegates from six foreign countries have confirmed their participation for the 24th annual MIAMI Association of REALTORS® (MIAMI) International Real Estate Congress on Oct. 28-30 at the Biltmore Hotel. MIAMI will announce more participating countries soon as it prepares to host the international real estate event of the year, attended by more than 300 real estate professionals.
    Full story
  • Total Miami Home Sales Jump Double Digits in August 2018

    Sep 20, 2018
    Total Miami-Dade County home sales surged 13.3 percent year-over-year in August with single-family homes and condominium markets posting double-digit gains as total luxury sales, median prices and dollar volume increased, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
    Full story
  • Colombia Continues to be Top Country Searching for Miami Homes

    Sep 17, 2018
    Colombian consumers registered the most international web searches for Miami homes in June, according to a new report by the MIAMI Association of Realtors (MIAMI). Colombia registered 12 percent of all international searches on MIAMI’s portal, www.MiamiRealtors.com, in June 2018. Colombia has led the rankings for seven consecutive months.
    Full story
  • MIAMI Realtors Showcase South Florida Real Estate at Brazilian Convention

    Sep 14, 2018
    The MIAMI Association of REALTORS® (MIAMI) promoted South Florida real estate at one of Brazil’s largest real estate events, the Secovi-SP Convention, on Aug. 26-28 in São Paulo. Secovi-SP, Latin America’s largest trade union, was MIAMI’s first of 178 foreign partner associations worldwide.
    Full story
  • JTHS-MIAMI Realtors Raises Money for Palm Beach’s Center for Child Counseling

    Sep 13, 2018
    The Young Professionals Network of the Jupiter-Tequesta-Hobe Sound Council of the MIAMI Association of REALTORS® (JTHS-MIAMI) donated about $7,560 to the Center for Child Counseling in Palm Beach Gardens from proceeds raised from their annual Battle of Bartenders event.
    Full story
  • South Florida Office Dollar Volume Surges in 2Q 2018

    Sep 04, 2018
    South Florida office dollar volume rose to its highest value in the past three quarters, according to the new 2Q 2018 The Quarterly Report – South Florida Commercial Real Estate released by data firm Vizzda (Visual Data) and the MIAMI Association of Realtors Commercial (MIAMI Commercial).
    Full story
  • Miami Existing Condo Sales Continue Upward Trend in July

    Aug 22, 2018
    Miami-Dade County existing condominium sales increased year-over-year for the fifth time in the last seven months as median prices rose for all properties in July 2018, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
    Full story
  • Miami Realtors to Exhibit at Colombia’s Largest Real Estate Expo

    Aug 09, 2018
    The MIAMI Association of REALTORS® (MIAMI) will again promote South Florida’s lifestyle and real estate market at Colombia’s largest property showcase, El XII Gran Salón Inmobiliario – Feria Internacional, starting today through Sunday, Aug. 12 in Bogotá, Colombia. MIAMI will make a South Florida market presentation at the 13th annual expo, which is expected to attract 30,000 visitors and 200 exhibitors.
    Full story
  • Miami Condominium Sales Rise in 2Q 2018

    Aug 08, 2018
    Miami-Dade County existing condominium sales surged 5.6 percent in 2Q 2018 as median prices for all properties rose for the 26th consecutive quarter, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
    Full story
  • JTHS-MIAMI Realtors Collect School Supplies for Boys & Girls Clubs of Palm Beach County

    Aug 06, 2018
    The Jupiter-Tequesta-Hobe Sound Council of the MIAMI Association of REALTORS® (JTHS-MIAMI) collected $800 worth of school supplies for Boys & Girls Clubs of Palm Beach County children during its annual school supply drive.
    Full story
  • Colombia Continues to be Top Country Searching for Miami Homes

    Jul 24, 2018
    Colombian consumers registered the most international web searches for Miami homes in April, according to a new report by the MIAMI Association of REALTORS® (MIAMI). Colombia registered 12.2 percent of all international searches on MIAMI’s portal, www.MiamiRealtors.com, in April 2018. Colombia has led the rankings for five consecutive months.
    Full story
  • Luxury Sales Continue to Rise while Limited Supply in Lower Price Points Results in Fewer Sales, Increased Prices

    Jul 23, 2018
    Miami-Dade County luxury real estate sales continue to increase while lower price points experience strong demand and limited supply, resulting in price increases countywide, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
    Full story
  • Colombia Continues to be Top Country Searching for Miami Homes

    Jul 09, 2018
    Colombian consumers registered the most international web searches for Miami homes in March, according to a new report by the MIAMI Association of REALTORS® (MIAMI). Colombia registered 11.9 percent of all international searches on MIAMI’s portal, www.MiamiRealtors.com, in March 2018. Colombia has led the rankings for four consecutive months.
    Full story
  • South Florida Multifamily Transactions, Prices Rise in 1Q

    Jun 26, 2018
    South Florida multifamily real estate transactions jumped 8.5 percent year-over-year in 1Q 2018 and per-unit multifamily prices increased in Miami-Dade, Broward and Palm Beach counties, according to the new 1Q 2018 The Quarterly Report – South Florida Commercial Real Estate
    Full story
  • JTHS-MIAMI Realtors Collect 364 Pounds of Food for Needy Palm Beach Residents

    Jun 25, 2018
    The Jupiter-Tequesta-Hobe Sound Council of the MIAMI Association of REALTORS® (JTHS-MIAMI) collected 364 pounds of non-perishable food for the Palm Beach County Food Bank in April as part of its annual JTHS-MIAMI’s “Move for Hunger” Food Drive.
    Full story
  • Colombia Leads Countries Looking for Miami Homes in February

    Jun 25, 2018
    Colombian consumers registered the most international web searches for Miami homes in February, 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 February data.
    Full story
  • Miami Luxury Home Sales Jump in May 2018

    Jun 20, 2018
    Total Miami luxury home sales rose 24.1 percent year-over-year in May as existing condominium sales rose for the second consecutive month, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
    Full story
  • Miami Realtors Join Chapman Partnership to Feed Homeless

    Jun 18, 2018
    Continuing its changing communities initiative, MIAMI Association of Realtors (MIAMI) members and peers again fed dinner to 500 homeless residents on June 14 at the Chapman Partnership’s Downtown Miami Homeless Assistance Center.
    Full story

Florida is Top U.S. Destination for Foreign Home Buyers

by | Jul 20, 2016

Print Version

With its all-year sunny weather, resort lifestyle and educational institutions, it's no wonder Florida is the top state in the union for foreign home buyers. Florida finished with the largest share of international home sales in the United States in 2016, according to a new study by the National Association of REALTORS® (NAR).

About 22 percent of foreign buyers purchasing in the United States bought in Florida, according to NAR's 2016 Profile of International Activity in U.S. Residential Real Estate. California, at 15 percent, finished second. Texas, with a 10 percent share, finished third. (Complete list is below).

The new NAR study highlights Florida's and therefore Miami's unique ability to attract international home buyers. Miami is Florida's top location for foreign home buyers. In Florida, Miami and Fort Lauderdale account for 50 percent of foreign sales, according to the 2015 Profile of International Home Buyers in Florida.

Foreign home buyers accounted for 36 percent or $6.1 billion of total sales volume, according to the 2015 Profile of International Home Buyers in Miami Association of Realtors Business Areas, conducted by the 41,000-member MIAMI Association of REALTORS® (MIAMI) and the National Association of Realtors (NAR).

Miami is a worldwide brand, known around the globe for its multicultural and multilingual community. International consumers feel at home here. Miami is geographically close to Latin America and the Caribbean, offers state-of-the-art amenities, world-class beaches, nightlife, premier schools and more.

Miami is the most international city in the United States. About 51.3 percent of Miami residents are foreign born, according to the U.S. Census. Miami's concentration of foreign-born residents is more than double the national average of 19.4 percent. Students at Miami-Dade County Public Schools, the nation's fourth largest school district in the U.S. with 345,000 students, speak 56 different languages and represent over 160 countries.

Top U.S. Destinations of Foreign buyers
(State's share to number of international sales)

  1. Florida 22%
  2. California 15%
  3. Texas 10%
  4. Arizona 4%
    New York 4%
    New Jersey 4%
    Illinois 4%
  5. North Carolina 3%
  6. Maryland 2%
    Georgia 2%
    Connecticut 2%
    Colorado 2%
    Michigan 2%
    Nevada 2%
    Washington 2%

Origin of Florida's Foreign Buyers
Latin America and the Caribbean comprise the largest share of Florida's international buyers. Miami, which is home to Florida's most populated county, is leading the way here. Miami is often nicknamed the Capital of Latin America.

About 36 percent of Florida's foreign buyers come from Latin America and the Caribbean. Here's the remaining breakdown: 25% from Europe, 21% from North America, 11% from Asia/Oceania, 5% didn't disclose and 1% from Africa.

Canadians Love Florida
Florida is the No. 1 destination of foreign buyers from Canada. Canadian buyers typically purchase properties for use as vacation homes, so they tend to locate in states with warm climates and resort areas. Miami-Dade, Broward and Palm Beach counties are perennially the top destinations for Canadians.

The United Kingdom Loves Florida
U.K. buyers mainly purchased residential property for vacation use, typically in warm-weather states of Florida, California, and Texas.

Primary Residence is Top Reason for Purchase
Forty-six percent of residential properties were purchased for use as primary residences, according to the NAR study. Non-resident foreigners, or non-U.S. citizens with permanent residences outside the United States, are more likely to purchase property as a vacation home or residential rental unit.

Seventy-two percent of non-resident foreign buyers purchased property as a vacation and/or residential rental property for investment while only 21 percent of resident foreign buyers purchased for this purpose. Resident foreigners are defined as non-U.S. citizens who are recent immigrants (in the country less than two years at the time of the transaction) or temporary visa holders residing for more than six months in the United States for professional, educational, or other reasons.

Resident foreigners significantly prefer to purchase detached single-family homes (71 percent) vs. condominiums (12 percent).

International Clients Spend More on Average
On average, foreign buyers paid $477,462 which is higher than the average price of all existing homes sold in the U.S. at $266,683. Over 10 percent of foreign buyers paid $1M and over for their property.

Among the major foreign buyers, Chinese buyers purchased residential properties that were more expensive than properties purchased by other buyers.

Lifting the South Florida Economy
South Florida's unparalleled ability to attract international home buyers and world-class global developers continues to boost the local economy, lift home sales and spur state-of-the-art commercial development. Of the 500,000 new residents who moved to the Miami, Broward, Palm Beach metro area over the last five years, about 65 percent (335,000) came from other countries, according to new U.S. Census data.

Print Version

Broward Events & Classes

Over 4,000 Seminars throughout South Florida

77% Included with your MIAMI Membership - "The Educated Choice" - Hundreds are Included with your MIAMI Membership - all are discounted only for MIAMI Members

Click here for Calendar of East Broward Classes

Click here for Calendar of West Broward Classes

Click here for Calendar of North East Broward Classes