Brazil is once again the top foreign country searching online for South Florida real estate, according to new statistics from the MIAMI Association of REALTORS® (MIAMI), America’s largest local Realtor group.
The South American nation of 200 million residents finished as the top international country using MIAMI’s search portal, http://www.Miamire.com, in September 2015.
Brazil has now ranked as the top foreign nation using http://www.Miamire.com in 15 of the last 16 months. The last time Brazil didn’t rank first was July 2015 when Colombia nabbed the top spot. The newly-released MIAMI statistics also showcase increased interest in South Florida real estate from countries such as Israel and Ecuador.
“Miami is the most international city in the United States, a distinction that Brazilians and all international buyers love,” said Christopher Zoller, a 27-year Miami-based Realtor and the 2015 Residential President of MIAMI. “South Florida’s multiculturalism and increasingly diversified economy are attracting more home buyers from South America’s largest economy who want a safe, secure place to invest their hard-earned money.”
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 Israel, Ecuador Grows
Consumers from Israel and Ecuador increased their online interest in South Florida real estate in September 2015. Israel posted its highest-ever finish, checking in with the fourth-most online searches among global consumers in September. Israel, which had never finished in the top-10, has now ranked fourth and ninth, respectively, in the last two months. Ecuador, meanwhile, registered its second-most web searches for South Florida real estate. Ecuador ranked ninth among global consumers in September, nearly eclipsing its highest-finish of eighth in October 2014.
The top-10 countries visiting Miamire.com in September 2015:
The top-10 countries visiting Miamire.com in September 2014:
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 September:
2015: 1) California, 2) Texas, 3) Georgia, 4) New York, 5) Illinois, 6) Tennessee, 7) Michigan, 8) North Carolina, 9) South Carolina, 10) New Jersey
2014: 1) New York, 2) California, 3) Texas, 4) Georgia, 5) Illinois, 6) Michigan, 7) North Carolina, 8) Ohio, 9) Pennsylvania, 10) New Jersey
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 September 2015, Miami/Fort Lauderdale was a top market for consumers in 13 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 September 2015:
1. *Canada: New York, Los Angeles, Las Vegas, Fort Lauderdale, Orlando
2. United Kingdom: Los Angeles, New York, Orlando, Kissimmee, Fla., Houston
3. Australia: New York, Los Angeles, San Francisco, Las Vegas, Beverly Hills
4. *Germany: New York, Los Angeles, Miami, San Antonio, Cape Coral
5. *Brazil: Orlando, Miami, New York, Los Angeles, Fort Lauderdale
6. *Mexico: San Diego, San Antonio, El Paso, Miami, Houston
7. *France: Miami, New York, Los Angeles, Miami Beach, San Francisco
8. India: New York, Los Angeles, Las Vegas, San Jose, Calif., Chicago
9. *Italy: New York, Miami, Miami Beach, Los Angeles, San Diego
10. *Netherlands: New York, Los Angeles, Miami, Orlando, Houston
11. *Spain: Miami, New York, Los Angeles, Fort Lauderdale, Miami Beach
12. *Russian Federation: New York, Los Angeles, Miami, San Diego, Chicago
13. South Korea: Los Angeles, New York, Irvine, Calif., Las Vegas, San Diego
14. Japan: San Diego, Los Angeles, New York, Honolulu, San Antonio
15. *Sweden: Los Angeles, New York, Fort Lauderdale, Miami, Tampa
16. *Turkey: New York, Los Angeles, Miami, Boston, Houston
17. Philippines: Los Angeles, Las Vegas, New York, San Jose, Seattle
18. *United Arab Emirates: Houston, New York, Los Angeles, Orlando, Miami
19. Ireland: New York, Los Angeles, Chicago, Orlando, Boston
20. *South Africa: New York, Los Angeles, Miami, Atlanta, Houston
*Countries with Miami and/or Fort Lauderdale as top searches
In September 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 U.S. Cities Searched by International Consumers:
1. New York
2. Los Angeles
5. Las Vegas
6. Fort Lauderdale
8. San Francisco
9. San Diego
Source: Virtual-Strategy Magazine