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The Miami/Fort Lauderdale Market Accounts for Half of All International Home Sales in Florida

by | Dec 05, 2015
South Florida has long ranked as one of America's top places for international home buyers because of its world-class amenities, global business center and proximity to Latin America. A new survey by the National Association of REALTORS®, completed in cooperation with Florida REALTORS®, recently emphasized that point as it showed Miami/Fort Lauderdale market accounting for 50 percent of all Florida international home sales from June 2014 to June 2015.

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Christopher Zoller
2015 Residential President
MIAMI Association of Realtors®

South Florida has long ranked as one of America's top places for international home buyers because of its world-class amenities, global business center and proximity to Latin America. A new survey by the National Association of REALTORS®, completed in cooperation with Florida REALTORS®, recently emphasized that point as it showed Miami/Fort Lauderdale market accounting for 50 percent of all Florida international home sales from June 2014 to June 2015.

South Florida's sizable foreign buyer share is significant not only because international consumers are adding to Miami's world-renowned diversity and entrepreneurial businesses, but because they are significantly impacting the local economy. International buyers spent an average of $538,600 on Florida property, according to the survey. That is considerably higher than the $258,200 median price of Florida residential sales in the same period.

Miami-Miami Beach finished as the top location in the entire state for foreign buyers, the survey found. About 36 percent of all international housing deals occurred in the Miami area. Fort Lauderdale had the second-most foreign home purchases among Florida cities, registering14percent of all transactions. Fort Lauderdale'spercentage nearly doubled the next closest Sunshine State community of Orlando-Kissimmee, which finished with the third-most foreign home purchases at 8 percent:

Metro Area | Perc.entage of foreign housing transactions

  1. Miami-Miami Beach 36%
  2. Fort Lauderdale 14%
  3. Orlando-Kissimmee 8%
  4. Bradenton-Sarasota-Venice 7%
  5. Tampa-St. Petersburg-Clearwater 6%
  6. Palm Beach 3%
  7. Cape Coral-Fort Myers 3%
  8. Jacksonville-St. Augustine 2%
  9. Naples-Marco Island 2%
  10. Ocala 2%
  11. Other 17%

Venezuelans ranked as the top foreign buyers in Miami, according to the survey. Venezuelans accounted for 21 percent of Miami's foreign buyer transactions in the 12 months ending in June 2015. Argentina (13 percent), Brazil (12 percent), Colombia (8 percent), Mexico (4 percent), China (4 percent), and France (3 percent) rounded out the top-seven countries.

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