The real estate playground has been shaken and changed by the local situation of different international economies. Not too long ago, Brazilians were buying everywhere. But they have now dropped to the fifth place. Russians, who were also extremely active in the Miami real estate market did not even make the list this year. Who has taken their place?
According to the Miami Association of Realtors, Colombia is leading the list of countries searching for properties in Miami for five consecutive months. Surprisingly, Pakistan had “the fourth-most web searches for Miami real estate in April 2018, marking the first time Pakistan has finished in the top-10”.
If you are asking yourself what other countries are showing a heightened interest in Miami real estate, here is the list:
- 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%
- Spain / 3.2%
In 2017, buyers of residential properties in South Florida were led by Argentina (15%) and Venezuela (11%) followed by a tied third place between Colombia and Canada.
What is going on with domestic buyers? New Yorkers keep leading the list of people searching for Miami real estate as you can see in this list from the Miami Association of Realtors:
Top-10 U.S. Cities Visiting MiamiRealtors.com in April 2018
- New York City
- Charlotte, NC
- Ballwin, MO
- Los Angeles
- Ashburn, VA
- San Francisco
South Florida and especially Miami continues to hold the gold medal when it comes to attractiveness of international buyers being the number one most searched US market. South Florida has consistently ranked among the top-five U.S. markets for global real estate demand. How can we blame them for wanting to be here? We live in paradise!
When you are selling a property in Miami it is crucial to know where buyers are coming from in order to properly direct the marketing efforts. If you want to deal with a broker that doesn’t stop at listing the property and putting a sign, but instead has deep knowledge of the local market as well as the international economic landscape contact us now by calling 786-251-9513 or email email@example.com Let’s discuss how we can make a smart campaign and produce results