Colombia registered the most
global web searches for South
Florida real estate in June
2024, according to a new report by the MIAMI Association of REALTORS® (MIAMI).
MIAMI, July 30,
2024 /PRNewswire-PRWeb/ -- Colombia registered the most global web
searches for South Florida real
estate in June 2024, according to a
new report by the MIAMI
Association of REALTORS® (MIAMI).
Colombia, which is also
South Florida's top global buyer,
has now finished in the top-two countries searching Miami real estate in each of the last 27
months.
"Miami
welcomes all countries, all cultures,"
"Miami welcomes all countries,
all cultures," 2024 MIAMI Chairman of the Board Gus Fonte said.
"Working together, learning from each other and expanding global
networks benefits all. This is the core of Miami and why we are the No. 1 U.S.
destination for global buyers."
Spain moved from No. 7 in
May 2024 to No. 2 in June 2024. In June
2024, MIAMI REALTORS®
partnered with the Spanish International Realty Alliance (SIRA) to
host the YPN Global Congress in Valencia,
Spain. Attendees then attended Inmociónate 2024, the largest
real estate event in the Spanish-speaking world for a day and a
half of education, networking and fun.
About 143 countries searched MiamiRealtors.com, which has three
consumer-facing property search portals, in June 2024. The top-10 includes countries from
four continents: South America,
Europe, North America and Asia.
Top-10 Countries Searching MiamiRealtors.com in June 2024:
Country Share of
International
Search
1. Colombia 10.8%
2. Spain 7.1%
3. Canada 6.5%
4. United
Kingdom 5.7%
5. Argentina 5.4%
6. China 5.2%
7. Venezuela 5.1%
8. New
Zealand 4.5%
9. India 4.4%
10. Philippines 4.4%
All other
countries 40.9%
Top Global Markets for South Florida Real Estate
Colombia purchased the most
South Florida real estate among
foreign countries in 2023, according to the 2023 Profile of
International Home Buyers of MIAMI
Association of REALTORS® (MIAMI)
Members. Colombian buyers purchased 15% of all international
purchases in South Florida.
Argentina (14%), Brazil (7%), Venezuela (6%) and Canada (6%) rounded out the top 5,
respectively. Access the report:
https://bit.ly/2023MIAMIGlobalStudy
Florida is the top U.S.
destination for foreign buyers (23% of all sales), according to
NAR's 2023 Profile of International transactions in U.S.
Residential Real Estate. Florida
has been the No. 1 state for foreign home buyers for the last 15
years.
More than half of all international home sales (47%) in
Florida are in Miami-Fort
Lauderdale-West Palm Beach,
according to the 2023 Florida Realtors' annual Profile of
International Residential Real Estate Activity in Florida.
One in five of all U.S. international home sales happen in
Florida and one in two in
Florida are in the Miami metro market. South Florida secures about 11% of all global
home sales in the entire U.S. annually.
Miami remains a bargain for
prime property ($1M and up) compared
to other global cities, according to the 2023 Knight Frank Wealth
Report. For $1M, homebuyers can
purchase 64 square meters of prime property in Miami. That is almost four times more than
Monaco (17 square meters), nearly
two times more than New York (33)
and London (34) and more than
Paris, Sydney, Tokyo
and more.
When looking at all price ranges, South Florida is also a bargain in comparison
to other global cities and U.S. metros, according to the NAR 2023
International Study. Miami-Fort
Lauderdale-West Palm
Beach's price per square meter is $3,170, far below at least 30 global cities and
13+ U.S. Metros including markets such as Hong Kong ($28,570), New York
City ($17,191), San Francisco-Oakland-Hayward,
CA ($8,250), Madrid, Spain ($6,173), Los
Angeles-Long Beach-Glendale,
CA ($4,740) and Seattle-Tacoma-Bellevue,
WA ($4,460).
Top-10 International Cities Searching MiamiRealtors.com in
June 2024
1. Bogotá, Colombia
2. Madrid, Spain
3. London, England
4. Santo Domingo, Dominican Republic
5. Dublin, Ireland
6. Medellin, Colombia
7. Toronto, Canada
8. Caracas, Venezuela
9. Paris, France
10. Barquisimeto, Venezuela
Virginia No. 1 State Searching for Miami Real Estate
Virginia registered the most
domestic Miami real estate web
searches in June 2024.
New York was the top state for
out-of-state buyers in the South
Florida area, according to the 2023 Profile of International
Home Buyers of MIAMI Association
of REALTORS® (MIAMI) Members.
Access the report: https://bit.ly/2023MIAMIGlobalStudy
Top-10 U.S. States Searching MiamiRealtors.com in June 2024
1. Virginia
2. Georgia
3. New York
4. Ohio
5. North Carolina
6. Michigan
7. California
8. Indiana
9. Texas
10. Pennsylvania
Top-10 U.S. Cities Searching MiamiRealtors.com in June 2024
1. New York,
NY
2. Atlanta, GA
3. Washington, D.C.
4. San Antonio, TX
5. Los Angeles, CA
6. Columbus, Ohio
7. Philadelphia, PA
8. Greenville, S.C.
9. Boston, MA
10. Houston, TX
About the MIAMI Association of
Realtors®
The MIAMI Association of Realtors
(MIAMI) was chartered by the
National Association of Realtors in 1920 and is celebrating 104
years of service to Realtors, the buying and selling public, and
the communities in South Florida.
Comprised of six organizations: MIAMI RESIDENTIAL, MIAMI COMMERCIAL; BROWARD-MIAMI, a division of MIAMI Realtors; JTHS-MIAMI, a division of MIAMI Realtors in the Jupiter-Tequesta-Hobe
Sound area; MIAMI YPN, our
Young Professionals Network Council; and the award-winning
MIAMI Global Council. MIAMI REALTORS represents 60,000 total real
estate professionals in all aspects of real estate sales,
marketing, and brokerage. It is the largest local Realtor
association in the U.S. and has official partnerships with 260
international organizations worldwide. MIAMI's official website is
http://www.MiamiRealtors.com
Media Contact
Chris Umpierre, MIAMI Association of Realtors, 3054687047,
chris@miamire.com, www.MiamiRealtors.com
Twitter
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SOURCE MIAMI Association of
Realtors