Have you been hearing more about international buyers and their interest in South Florida real estate?
The number of foreign investors is consistently growing and leading industry experts expect international sales to increase even more in 2012. The predictions were made at the Miami International Real Estate Congress, a conference that included over 300 U.S. and worldwide international real estate professionals that was recently held at the Biltmore in Coral Gables.
Florida has been leading the nation in international sales since pulling ahead of California in 2009. Of all of the sales that take places in Florida the majority are in South Florida with 30 percent specifically in Miami-Dade County. The top 10 markets for international buyers in Greater Miami for 2011 are as follows:
- Venezuela: 15 percent
- Brazil: 12 percent
- Argentina: 11 percent
- Canada: 10 percent
- Colombia: 8 percent
- Mexico, France: 5 percent
- Italy, Spain: 4 percent
- United Kingdom, Ecuador, Dominican Republic and Peru: 3 percent
Source: Miami Association of Realtors
Source: Urbanism Group
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