The Real Deal Miami

Brazil leads world for Miami property searches in November

Venezuela came in second, followed by Argentina

January 15, 2016 10:30AM

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A view of the Brickell skyline from 2009 (Credit: creative commons user MiamiTom) and the flag of Brazil (Credit: Max Hendel)

A view of the Brickell skyline from 2009 (Credit: creative commons user MiamiTom) and the flag of Brazil (Credit: Max Hendel)

It looks like Brazilians are still the world’s most interested populous in Miami real estate.

The Miami Association of Realtors released its monthly web traffic report Friday that measures which countries are searching for Miami properties the most.

Yet again, Brazilians logged the most property searches out of any other foreign country. Venezuela wasn’t far behind in the No. 2 spot, along with Argentina at No. 3 and Colombia at No. 4.

An interesting note is that the top four countries expressing interest in Miami have consistently been in South America. This is despite these countries’ weakening currencies, which have caused buying activity in South Florida to slow down in recent months.

“Despite the strength of the U.S. dollar, Brazilians continue searching for and investing in South Florida properties,” Mark Sadek, the association’s 2016 chairman of the board, said in a press release. “Miami real estate offers security of investment for many international buyers who face economic uncertainty at home.”

The association’s report said Brazilians who move here are typically upper-middle-class families or entrepreneurs. They spent an average of $587,700 per home during 2015.

And when they’re buying in the Sunshine State, Brazilians primarily choose South Florida. Roughly 66 percent of Brazilian home purchases in Florida during 2015 were either in Miami-Dade County or Broward. — Sean Stewart-Muniz

Here’s a list of the top 10 countries

1. Brazil
2. Venezuela
3. Argentina
4. Colombia
5. Russia
6. India
7. Canada
8. Philippines
9. Mexico
10. United Kingdom

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