Broward Council of the MIAMI Association of REALTORS

                                                                                                     

                

  • 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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  • 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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Growing South American Population Reshaping Miami

by | Jul 29, 2016



By Chris Umpierre / MIAMI Staff

Miami-based Brazilians will pull on their yellow No. 10 Neymar jerseys. Local Argentines will sport blue-and-white striped jerseys. Local Colombians will wear yellow, Peruvians red and Venezuelans burgundy.

These ethnic groups and more will come together this month at Miami sports bars to watch the 2016 Summer Olympics on TV, and one central theme will be on display: Miami’s incredible diversity.

A city once defined by Cubans is now home to a growing South American population that is affluent, well-educated and business oriented.

South Americans’ impact on Miami can be seen in the city’s changing skyline, booming real estate market, international banks, growing downtown, construction cranes, cultural institutions and more. South Americans have helped Miami become a world-class global city. South Americans have helped diversify Miami’s economy, encourage more international visitors and homebuyers, add international businesses and grow its import-export trade.

Miami, often nicknamed the Capital of Latin America, overtook Los Angeles and now has the highest share of business owners who were foreign-born in the United States. Immigrants comprise 39 percent of Miami’s population and 45 percent of the city’s business owners

 

Miami’s Growing South American Population

Cubans still comprise Miami’s largest ethnic group, representing 34.3 percent of the Miami-Dade County population. But South Americans are rapidly rising. Colombians are Miami’s second-largest Hispanic group, comprising 4.6 percent of Miami’s population.

 

The Colombian population in Miami grew 63.7 percent from 2000 to 2010. The Venezuelan Miami population jumped 117 percent during the same time period. Argentina (114.5 percent increase) and Ecuador (87.8 percent) also jumped from 2000 to 2010.

The Impact in Miami Real Estate

A wide range of international consumers play a major role in Miami real estate sales.

 

Foreign real estate 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 42,000-member MIAMI Association of REALTORS® (MIAMI) and the National Association of Realtors (NAR).

 

The top-four countries investing in South Florida come from South America.

 

Top Countries Investing In South Florida

1. Venezuela 
2. Brazil 
3. Argentina 
4. Colombia 
5. Canada 
6. Mexico 
7. France and Italy

 

Colombia continues to lead all foreign countries searching for South Florida real estate, according to the MIAMI Association of REALTORS® (MIAMI). The South American nation finished as the top international country using MIAMI’s search portal, http://www.miamirealtors.com, in May 2016. Colombia has now led the rankings for six consecutive months.

 

The Impact in Miami Neighborhoods

The growing South American population in South Florida can be seen, felt and heard in various neighborhoods. Let’s consider two: Doral in Miami-Dade County and Weston in Broward County.

 

Since the election of Hugo Chavez in Venezuela in 1999, Venezuelans have migrated to these two aforementioned cities. Doral, which is one of America’s fastest growing cities, is often nicknamed Doralzuela. Doral is 80 percent Hispanic. In 2012, Doral residents elected Venezuelan Luigi Boria as mayor.

 

Weston in Broward County also has a major Venezuelan population and is often nicknamed Westonzuela. You can easily find arepas and Spanish-language periodicals like “El Venezolano” at gas stations. Weston, one of Broward’s newest cities, has become a suburban home for many exiles seeking the American dream. Venezuelans migrated to Weston to be part of the growing Venezuelan countrymen as they recover from their lives being threatened under President Hugo Chavez’s leftist populist rule.

 

The Impact in Miami Banks

Brickell in downtown Miami is another area being impacted by South Americans. International banks have flourished in this area, which is often nicknamed the “Wall Street of the South.” As a larger diversification of countries have migrated to Miami, more international banks have followed the Latinos to Miami.

 

More than 53 banks from North America, Europe and Latin America do business in Brickell. The proliferation of international and domestic banks in this financial district south of downtown has not only created hundreds of local jobs, but it has fueled unprecedented residential and commercial development.

 

South Florida’s multiculturalism is a key factor in Brickell’s development into a banking powerhouse. About 51.3 percent of Miami residents are foreign born, which is more than double the national average. Miami’s reach extends beyond South America as students in Miami-Dade public schools speak more than 56 different languages and come from 160 countries. The ability to speak multiple languages is key in global banking. Foreign investors feel confident moving their capital to Brickell banks.

 

The Melting Pot of Miami

As Miami’s brand continues to grow and more international consumers purchase homes here and start businesses here, South Florida is starting to see new groups invest locally.

 

China, the world’s most populous country, is one of the fastest growing segments of South Florida foreign buyers. The Asian country’s interest should only increase due to Miami’s world-famous lifestyle, top-tier colleges and universities, expansive designer-brand shopping, diversified economy, sunny weather, clean air, walkable districts, and secure investments.

 

Miami has a reputation for welcoming all ethnicities. Its remarkable diversity is Miami’s greatest strength. Being around people who are different from us makes us more creative, more diligent and harder-working.

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