South Florida’s International Real Estate Appeal

MIAMI—South Florida real estate’s international investment appeal is very strong, according to data released recently by the Miami Association of Realtors and the National Association of Realtors, particularly in Latin America, Canada and Pakistan.

The local and national Realtor associations ranked international markets by home purchase market share and web search interest and the results prove South Florida’s high global profile.

For example, Colombian home consumers registered the most international web searches for Miami homes in April, according to a new report by the Miami Association of Realtors. Colombia registered 12.2% of all international searches on the association’s web portal, www.MiamiRealtors.com, in April 2018. Colombia has led the rankings for five consecutive months.

“Miami has name recognition throughout the world and we see it every month in the amount of international consumers interested in Miami real estate,” says George C. Jalil, a Miami broker and the 2018 Miami Association of Realtors chairman of the board.

Pakistan, the fifth-most populous country in the world, had the fourth-most web searches for Miami real estate in April 2018, marking the first time Pakistan finished in the top-10. About 72% of the Pakistan web traffic came from Karachi, Pakistan.

The top 10 countries that visited MiamiRealtors.com in April 2018 in terms of market share of international searches were: Colombia, 12.2%; Venezuela, 9.6%; Canada, 6.1%; Pakistan, 6.0%; Argentina, 5.5%; Brazil, 4.9%; India, 4.5%; Dominican Republic, 3.8%; Peru, 3.4% and Spain, 3.2%.

In terms of actual investment, data from the Miami association’s 2017 Profile of International Home Buyers found that Argentina (15%) and Venezuela (11%) ranked number one and two. Colombian home buyers tied with Canada at 9% for the third-most international purchases in South Florida.

Data from the National Association of Realtors indicates that the Miami-Fort Lauderdale-West Palm Beach region ranked as the most searched U.S. market by international consumers, according to Realtor.com’s April 2018 data.

Top-10 U.S. Markets for International Real Estate Demand: April 2018

Miami-Fort Lauderdale-West Palm Beach, FL

Bellingham, WA

Los Angeles-Long Beach-Anaheim, CA

New York-Newark-Jersey City, NY-NJ-PA

Orlando-Kissimmee-Sanford, FL

Kahului-Wailuku-Lahaina, HI

Tampa-St. Petersburg-Clearwater, FL

Phoenix-Mesa-Scottsdale, AZ

Urban Honolulu, HI

El Centro, CA

The Top 10 Countries Driving International Demand in April 2018

Canada

Brazil

United Kingdom

Colombia

Argentina

Germany

Spain

Italy

France

Mexico

In terms of domestic buyer demand, the top 10 states visiting the Miami Realtors web portal in April were: California, 7.8%; New York, 7.8%; Texas, 6.7%; North Carolina, 6.5%; Georgia, 5.1%; Virginia, 3.3%; Illinois, 2.6%; Missouri, 2.5%; Tennessee, 2.2% and New Jersey / 2.1%.