Colombian Buyers Eyeball Miami Housing Market

Sep 17, 2018

When it comes to global interest in Miami’s residential property market, the greatest number of potential buyers are based out of Colombia.

According to a new report from the Miami Association of Realtors, Colombia registered 12 percent of all international searches on the trade group’s MiamiRealtors.com portal during June. This marked the seventh consecutive month that Colombian interest outpaced the rest of the world via the trade group’s portal. In comparison, potential buyers from India made up 6.2 percent of global interest, followed by Venezuela (six percent), Spain (5.9 percent) and Canada (5.2 percent).

Colombian homebuyers tied with Canada in making the third-most international purchases in South Florida, according to the 2017 Profile of International Home Buyers published by the Realtors’s group. Colombia had a nine percent share of all international purchases in South Florida, while Argentina (15 percent) and Venezuela (11 percent) had the most and second-most purchases, respectively. Miami-Fort Lauderdale-West Palm Beach ranked as the most searched U.S. market by international consumers, according to Realtor.com data from June.

Among searches involving American buyers, most interest in the Miami housing market came from New York, followed by California, Texas, North Carolina and Virginia.

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Phil Hall

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Sep 17, 2018

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