Broward Council of the MIAMI Association of REALTORS

                                                                                                     

                

  • 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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  • MIAMI REALTORS CEO Named to South Florida’s Most Influential Business Women

    May 14, 2018
    MIAMI Association of REALTORS® (MIAMI) Chief Executive Officer Teresa King Kinney was named one of the top 25 Most Influential Business Women in South Florida. The South Florida Business Journal honored Kinney’s strong record of leadership, community involvement and industry innovation at an event on May 11 in Fort Lauderdale.
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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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  • South Florida Industrial Real Estate Prices, Transactions Rise in 4Q

    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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Argentina Ranks No. 2 Globally for Most Miami Real Estate Transactions

by | Aug 23, 2017

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Argentinian consumers buy the second-most South Florida real estate among all foreign countries.

The South American country registered 11 percent of the $6.2 billion in South Florida residential real estate purchases by foreign buyers, according to the 2016 Profile of International Homebuyers of MIAMI Association of RELATORS® Members. The National Association of REALTORS® (NAR) conducts the annual profile for MIAMI.

South Florida’s global business center, world-class shopping, affordability compared to other world cities, and outdoor lifestyle are some reasons why Argentinians purchase.

 Top Countries Investing in South Florida 

                  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)

Argentinian Buyer Characteristics
Argentinians preferred Miami-Dade over Broward, according to MIAMI’s 2016 Profile. About 69 percent of Venezuelan residential buyers purchased in Miami-Dade. About 26 percent purchased in Broward County, 2 percent bought in Palm Beach County and 2 percent chose another South Florida county.

 Argentina ranked as the third-highest foreign buyer (14 percent) in Miami-Dade behind Venezuela (17 percent) and Brazil (15 percent). Argentinians registered 12 percent of all foreign transactions in Broward, trailing Venezuela (18 percent), Colombia (17 percent) and Canada (13 percent).

Argentinian consumers paid on average $406,000 for South Florida 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.

Country                                Avg. Purchase Price for South Florida Real Estate

1. Brazil                                 $775,000
2. Canada                             $646,000
3. Venezuela                         $534,000
4. Argentina                         $406,000
5. Colombia                          $388,000

78 Percent of Argentinian Buyers Pay All-Cash
About 78 percent of Argentinian buyers paid all-cash for South Florida real estate. Among all foreign buyers, Argentina ranked second for highest percentage of cash sales. Canada (81 percent) finished first. About 72 percent of South Florida international buyers paid all-cash, according to the 2016 Profile.

Most Argentinian buyers purchased condominiums in the central city/urban areas. About 70 percent of Argentinians preferred condominiums over townhouse (15 percent) and single-family homes (11 percent). About 72 percent of Argentinian buyers bought in the central city/urban locations over suburban (9 percent), small town (2 percent and resort area (17 percent).

Argentinians Buy Properties for Residential Rental Reasons
Argentinians mostly use their South Florida property for residential rentals. About 52 percent of Argentinians intend to use their properties for residential rentals; 22 percent for vacation home, 14 percent for both vacation and residential rental, 16 percent for primary residence, 6 percent other reasons and 4 percent didn’t list a reason.

World-Class Amenities, Affordability
International home buyers purchase in Miami for more reasons than just world-class beaches and sunny weather. Miami has developed into a top global city with world-class amenities. Miami is also so multicultural that it’s very easy to integrate here.

Miami’s global transformation began when Art Basel, the biggest contemporary-art fair in the United States and one of the largest in the world, chose to host an annual event here. Art Basel added Miami Beach to the radar of wealthy international collectors.

New cultural institutions such as Pérez Art Museum Miami, the Institute of Contemporary Art, Miami, and the Frost Museum of Science have added to Miami’s global brand. From its colorful Wynwood murals to its shining new art museums to its hip Design District, Miami exudes art. You can’t go anywhere in this town without seeing this staple of Miami life.

Miami is also affordable compared to cities like New York and San Francisco.

A 120-square meter condo in Miami-Fort Lauderdale-Miami Beach cost $149,900 on average, according to the National Association of Realtors 2015 Profile of Home Buying Activity of International Clients. The price for the same condo in London ($960,840), Hong Kong ($776,280), and New York ($1.6 million) were at least five times higher.

Safe Place to Invest
Like other international buyers, Venezuelans view Miami as a safe place to invest their money. In an ideal location for a resort lifestyle, Miami provides foreign home buyers safety of investment that they don’t typically see in their respective homelands. The U.S. has a trustworthy legal system, which places importance on property rights.

 Historical-low interest rates in addition to world-class condominiums with oceanfront views are attracting international home buyers to South Florida.

Miami Welcomes All Culture
Miami is the most international city in the U.S. 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.

Direct Flights
Miami International Airport (MIA) offers 160 direct flights, including 25 to South America. MIA has non-stop flights to Buenos Aires (American Airlines, Latam Airlines and Aerolineas Argentinas). Fort Lauderdale-Hollywood International Airport (FLL) has 116 direct flights, including 60 international destinations.

Boosting the Market
Argentinians are part of a significant number of South Florida international buyers who are increasingly purchasing property in South Florida. The foreign clients want to live, work, and play in our multicultural, multilingual region.

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