The last time Brazil didn’t rank first was July 2015 when Colombia took top honors. The newly-released MIAMI statistics also showcase increased interest from India and the United Kingdom.
“Like all international home buyers, Brazilians are at home in South Florida and love the world-class amenities, restaurants, shopping and security of investment,” said Christopher Zoller, a 27-year Miami-based Realtor and the 2015 Residential President of MIAMI.
Brazil: A Top Market for South Florida Real Estate
Brazilian home buyers purchase the third-most South Florida real estate among all foreign countries, according to the 2014 Survey of International Home Purchases conducted by the National Association of REALTORS® (NAR) for MIAMI. Brazil registered 11 percent of all foreign South Florida deals last year. Venezuelan and Argentinian buyers finished first and second, respectively, at 16 and 12 percent.
Brazilians moving to South Florida are often upper-middle-class families who want to enjoy their prosperity earned in their homeland as professionals and entrepreneurs. Brazilians spend the most on average on Miami-Dade and Broward properties among foreigners: $495,000 average sale price compared to $245,000 among all buyers in Florida.
Interest from India, United Kingdom Grows
Consumers from India and the United Kingdom increased their online interest in South Florida real estate in October 2015. India’s fifth-place finish was the country’s highest since it also ranked fifth in February 2015. India is the second-most populous country in the world with more than 1.2 billion residents. The United Kingdom registered its highest-finish since it took seventh in February 2015.
The top-10 countries visiting Miamire.com in October 2015:
- United Kingdom
The top-10 countries visiting Miamire.com in October 2014:
- United Kingdom
Top U.S. Markets for Miami
A leading global city, Miami is also a top choice for American real estate consumers. The top-10 states searching Miamire.com in October:
2015: 1) California, 2) Texas, 3) New York, 4) Georgia, 5) Illinois, 6) Tennessee, 7) North Carolina, 8) South Carolina, 9) Ohio, 10) Michigan
2014: 1) New York, 2) California, 3) Texas, 4) Illinois, 5) Georgia, 6) Massachusetts, 7) Michigan, 8) North Carolina, 9) Ohio, 10) Tennessee
Foreign Home Buyers Searching for Miami Real Estate
Nationally, Miami is one of the top markets for most of the highest ranking countries searching for property in the U.S. – including Brazil, Germany, and France. In October 2015, Miami/Fort Lauderdale was a top market for consumers in 12 of the top-20 countries searching for U.S. properties. The top countries (outside the U.S.) where global consumers were most engaged on Realtor.com® & Realtor.com® International and the top-five U.S. markets they searched in October 2015
- *Canada: New York, Los Angeles, Las Vegas, Orlando, Fort Lauderdale
- United Kingdom: New York, Los Angeles, Kissimmee, Fla., Orlando, Davenport, Fla.
- Australia: New York, Los Angeles, San Francisco, Las Vegas, Beverly Hills
- *Germany: New York, Los Angeles, Miami, San Antonio, Cape Coral
- *Brazil: Orlando, Miami, New York, Los Angeles, Boca Raton, Fla.
- Mexico: San Diego, San Antonio, El Paso, Laredo, Houston
- *France: New York, Los Angeles, Miami, Miami Beach, San Francisco
- India: New York, Los Angeles, San Jose, Calif., Chicago, Las Vegas
- *Italy: New York, Miami Beach, Miami, Los Angeles, Fort Lauderdale
- *Netherlands: New York, Los Angeles, Miami, Las Vegas, Houston
- *Russian Federation: Los Angeles, New York, Miami, Orlando, San Francisco
- Japan: San Diego, Los Angeles, New York, Las Vegas, Jacksonville
- *Spain: Miami, New York, Los Angeles, Fort Lauderdale, Miami Beach
- South Korea: Los Angeles, New York, Las Vegas, Irvine, Calif., San Antonio
- *Sweden: Los Angeles, New York, Miami, Fort Lauderdale, Tampa
- *United Arab Emirates: New York, Houston, Los Angeles, Orlando, Miami
- *Israel: New York, Miami, Los Angeles, Las Vegas, Boca Raton
- Philippines: Las Vegas, Los Angeles, New York, San Francisco, San Diego
- Ireland: New York, Los Angeles, Orlando, Chicago, Boston
- *South Africa: New York, Los Angeles, Miami, Houston, Dallas
*Countries with Miami and/or Fort Lauderdale as top searches
In October 2015, Miami ranked third among the top-10 overall most searched U.S. cities by non-U.S. consumers. Fort Lauderdale ranked sixth. Combining Miami and Fort Lauderdale would have likely increased South Florida’s ranking.
Top 10 U.S. Cities Searched by International Consumers:
- New York
- Los Angeles
- Las Vegas
- Fort Lauderdale
- San Francisco
- San Diego