Tuesday, April 16, 2024

Colombia Regains Spot as Top Country Searching Miami Real Estate; Texas is Top State and D.C. is Top U.S. City

MIAMI — Colombia posted the most global web searches for Miami homes in November 2022, according to a new report by the MIAMI Association of REALTORS® (MIAMI). Colombia has now topped the list of foreign countries searching Miami real estate in eight of the last nine months.


China made the largest month-over-month jump in the top-10, moving from No. 14 in October 2022 to No. 2 in November 2022. First-time users from China on MiamiRealtors.com comprised 20.2% of its search share in November 2022.


“Miami is different from other markets in that our global buyers come from a diversified list of countries,” MIAMI Chairman of the Board Fernando Arencibia Jr. said. “China, which erupted in mass protests against the country’s COVID lockdowns recently, is just one of the many countries that are searching and purchasing property in our diverse and welcoming South Florida region.”


Colombia accounted for 12.03% of all international searches on MiamiRealtors.com in November 2022, up from 11.58% in November 2021.


Top-10 Countries Searching MiamiRealtors.com in November 2022:

Country                                 Share of International Searches

  1. Colombia 12.03%
  2. China 10.47%
  3. Venezuela 6.52%
  4. Germany 5.76%
  5. Argentina 5.40%
  6. Philippines 5.02%
  7. United Kingdom 4.51%
  8. France 3.99%
  9. Canada 3.42%
  10. Mexico 3.37%

All other countries                 39.51%


Top Global Markets for South Florida Real Estate
Argentina purchased the most South Florida real estate among foreign countries in 2022, according to the 2022 Profile of International Home Buyers of MIAMI Association of REALTORS® (MIAMI) Members. Argentina buyers purchased 16% of all international purchases in South Florida. Colombia (13%), Peru (8%), Canada (8%) and Venezuela (6% rounded out the top 5, respectively. Access the report: https://bit.ly/MIAMIGlobalStudy


Florida has finished as the top destination for international buyers for 14 consecutive years, according to the National Association of REALTORS® 2022 International Transactions in U.S. Residential Real Estate. Florida is the No. 1 destination for foreign buyers from Colombia, Canada, Brazil and other countries, according to the study.


South Florida remains a bargain in comparison to other global cities and U.S. metros, the study showed. 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 November 2022

  1. Bogotá, Colombia
  2. Berlin, Germany
  3. Buenos Aires, Argentina
  4. Medellín, Colombia
  5. Barquisimeto, Venezuela
  6. Caracas, Venezuela
  7. Cali, Colombia
  8. Mexico City, Mexico
  9. Montreal, Canada
  10. London, England


Texas No. 1 State Searching for Miami Real Estate
Texas registered the most domestic Miami real estate web searches in November 2022. New York was the top state for out-of-state buyers in the South Florida area in 2022, according to the 2022 Profile of International Home Buyers of MIAMI Association of REALTORS® (MIAMI) Members. Access the report: https://bit.ly/MIAMIGlobalStudy


Top-10 U.S. States Searching MiamiRealtors.com in November 2022
1. Texas

  1. Washington
  2. Virginia
  3. Kentucky
  4. California
  5. Georgia
  6. Illinois
  7. Tennessee
  8. New York
  9. North Carolina


Top-10 U.S. Metros Searching MiamiRealtors.com in November 2022

  1. Washington, D.C.
  2. Lexington, KY
  3. Chicago
  4. New York
  5. Los Angeles
  6. Nashville, TN
  7. Atlanta, GA
  8. Dallas-Ft. Worth, TX
  9. Houston, TX
  10. Columbus, OH


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 102 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 nearly 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 242 international organizations worldwide. MIAMI REALTORS has launched its new YPN Global and will host the first-ever YPN Global Congress on Feb. 12-15, 2023, in Dubai. MIAMI has been selected to host the prestigious FIABCI World Congress on June 5-9, 2023. MIAMI’s official website is www.miamirealtors.com



Originally published at https://www.miamirealtors.com/2022/12/19/colombia-regains-spot-as-top-country-searching-miami-real-estate-texas-is-top-state-and-d-c-is-top-u-s-city/

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