Broward Council of the MIAMI Association of REALTORS

                                                                                                     

                

  • 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.
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  • 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.
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  • 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.
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  • 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.
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  • 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).
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  • 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.
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  • 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.
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  • 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.
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  • 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.
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  • 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.
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  • 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.
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  • 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.
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  • 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
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  • 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.
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  • 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.
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  • 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.
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  • 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.
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  • Miami Existing Condo Sales Jump 24.6 Percent in April

    May 24, 2018
    Miami’s existing condominium market posted its best April in three years as condo transactions jumped 24.6 percent and condo dollar volume surged 40.8 percent year-over-year, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system. Miami single-family home sales and residential prices rose.
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  • MIAMI REALTORS® Launches MIAMI Platinum PLUS for its Members

    May 17, 2018
    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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  • Miami Luxury Home Sales Soar in 1Q 2018

    May 15, 2018
    Total Miami luxury home sales surged 12.3 percent in 1Q 2018 as median prices rose for the 25th consecutive quarter, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
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New 2016 South Florida International Real Estate Report Released

by | Jan 25, 2017
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According to the new 2016 Profile of International Home Buyers of MIAMI Association of REALTORS® (MIAMI) Members conducted by MIAMI and the National Association of Realtors (NAR), foreign home buyers spent more on South Florida homes and purchased more local residential properties in 2016 than the year before.

The fifth annual survey, which includes data from Miami-Dade, Broward, Palm Beach and Martin counties, ranks countries of origin and highlights key characteristics of foreign buyers.

“Our new South Florida international real estate report shows a more diverse group of countries purchasing Miami real estate,” said Christopher Zoller, the 2017 MIAMI chairman of the board. “Miami continues to be one of the world’s top destinations for international home buyers.”

More than half of all international home sales in the entire state of Florida (52 percent) happen in Miami-Fort Lauderdale-West Palm Beach, according to NAR’s 2016 Profile International Residential Real Estate Activity in Florida.

About 80 percent of all South Florida international home sales take place in Miami-Dade County, according to the new MIAMI and NAR report. The report showed a foreign buyer sales volume for the following counties: Broward (16.4 percent), Palm Beach (3.0 percent) and Martin (.4 percent).

Foreign buyers purchased $6.2 billion of South Florida residential properties in 2016, up from $6.1 billion a year ago, according to the MIAMI and NAR report. International unit sales also increased to 24 percent of total sales in South Florida, up from 22 percent in 2015.

Top Countries Investing in South Florida
The countries of origin for consumers purchasing properties in Miami-Dade, Broward, Palm Beach and Martin counties are:
1. Venezuela (15 percent of South Florida foreign purchases)
2. Argentina (11 percent)
3. Brazil and Colombia (10 percent each)
4. Canada (6 percent)
5. Mexico, France & Peru (4 percent each)

The top tier countries of origin — Venezuela, Argentina, Brazil, Colombia, Canada, Mexico, France and Peru — account for 64 percent of total South Florida international closed sales.

By dollar volume, Venezuela, Brazil, Argentina, Canada and Colombia accounted for nearly half of the $6.2 billion of South Florida international home sales in 2016. Venezuelan and Brazilian buyers topped the list with $868 million and $861 million in sales volume, respectively.

The top tier of countries continues with each at 3 percent of international sales:
- Italy
- Ecuador
- China
- Dominican Republic
- United Kingdom

Next tier countries of origin are: Spain, Germany, Australia, Honduras, South Korea, Russia, India, Costa Rica, Japan, Malaysia, Chile, Panama, Nicaragua and Portugal.

Top Countries by County
The top countries of origin for consumers purchasing properties in Miami-Dade are:
1. Venezuela (17 percent)
2. Brazil (15 percent)
3. Argentina (14 percent
4. Colombia (8 percent)
5. Italy, Mexico & Canada (4 percent each)

Other top countries include Canada, France, China, the Dominican Republic and Peru.

The top countries of origin for consumers buying real estate in Broward County are:
1. Venezuela (18 percent)
2. Colombia (17 percent)
3. Canada (13 percent)
4. Argentina (12 percent)
5. Brazil (10 percent)

The top countries of origin for consumers buying real estate in Palm Beach County are:
1. Canada (30 percent)
2. Venezuela (9 percent)
3. Brazil, Germany & Italy (7 percent each)
4. Argentina, Colombia, Ireland & Russia
(4 percent each)

The top countries of origin for consumers buying real estate in Martin County are:
1. Canada (21 percent)
2. Australia & Brazil (13 percent)
3. Germany & Venezuela (8 percent each)

Additional Survey Highlights
- Foreign home buyers spend more on average on real estate than other buyers, and MIAMI real estate buyers spend even more on average than other international buyers in the state of Florida or nationally.

South Florida international home buyers paid $570,000 on average for residential properties. In comparison, all MIAMI buyers spend $352,900 on average. Foreign buyers of Florida Realtors members spend $412,100 on average, while foreign buyers in the U.S. spend $477,500 on average.

- Miami has about double the number of all-cash buyers than the national average. International home buyers in South Florida comprise an even larger percentage of all-cash buyers. According to the new MIAMI and NAR survey, about 72 percent of all international residential transactions in South Florida were made in all-cash.

- South Florida international home buyers prefer condominiums (55 percent) in the central/urban areas (58 percent), which they intend to use mainly as residential rental, vacation home or both (75 percent).

- About 5.5 percent of South Florida foreign buyers purchased local homes without even visiting Florida. About 19.7 percent purchased with just one visit to Florida; 25.4 percent purchased with just two visits; 22.1 percent bought after visiting Florida three times.

- South Florida international buyers purchased 10,885 residential properties in 2016 compared to 10,678 the year before, a 1.93 percent increase.

- About 70 percent of MIAMI members work with international buyers. That’s more than double the national figure of 31 percent, according to NAR.

Survey results reflect MIAMI’s commitment to increasing South Florida’s real estate brand worldwide and the Miami real estate market’s position as a top international destination.

MIAMI has 160 partner organizations worldwide and conducts international outreach on a global level.

The 2016 survey provides information on the international residential transactions of MIAMI members from August 2015 through July 2016.

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