MIAMI Association of REALTORS

     

                

Miami Herald: Leader's Columns

  • Florida Remains Top Choice for International Buyers in U.S.

    by | Jul 24, 2016

    Florida Remains Top Choice for International Buyers in U.S. U.S. International Sales Increase Three Percent Compared to Previous Year

    By: Lynda Fernandez, SVP of Public Relations & International

    Print Version: English | Spanish

    International buyers continue to fuel real estate and economic expansion in the U.S. particularly in markets like Florida where they are mostly concentrated.

    Despite the strengthening of the U.S. dollar and slower economic growth in many countries, international real estate sales in the U.S. increased three percent between April 2015 and March 2016 compared to the previous period, according to the 2016 Profile of International Activity in U.S. Residential Real Estate. Sales volume decreased a negligible one percent from $103.9 billion to $102.6 billion.

    Florida Remains Top Market for Foreign Buyers

    Although foreign buyers purchased property nationwide, five states accounted for 51 percent of total residential purchases: Florida (22 percent), California (15 percent), Texas (10 percent), Arizona (four percent), and New York (four percent). Florida's market share increased one percent in this latest study from 21 percent last year. Fifty percent of international transactions in Florida take place in the Miami-Fort Lauderdale area, according to the Profile of International Home Buyers in Florida (2015). Foreign consumers on Realtor.com continue to search for property in Miami above any other market in the U.S.

    U.S. Real Estate Affordable for Chinese Buyers

    Chinese buyers continue to play an important role in the U.S. real estate market. For the fourth year in a row, buyers from China exceeded all countries by dollar volume of sales at $27.3 billion, which wasaslight decrease from last year's survey ($28.6 billion) but over triple the total dollar volume of sales from Canadian buyers (ranked second at $8.9 billion). Chinese buyers purchased the most housing units for the second consecutive year (29,195; down from 34,327 in 2015), and also typically bought the most expensive homes at a median price of $542,084.

    China and Canada were followed by Mexico (eight percent), India (seven percent), United Kingdom (four percent), and France, Brazil and Germany (three percent). Other top countries included Venezuela, Russia and Japan. For more information on international buyers go to SFMarketIntel.com. MIAMI Association of REALTORS® WWW.MiamiRE.com info@miamire.com

    Print Version: English | Spanish

Archive

Spanish