The Real Deal Miami

South Florida by the numbers: Miami-Colombia real estate connection edition

March 23, 2016 01:30PM
By Master Brokers Forum

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Miami, Colombia flag and Master Brokers Forum

“South Florida by the numbers” is a web feature that catalogs the most notable, quirky and surprising real estate statistics.

The votes are in … the ballots have been counted … and the winner is … Colombia?

While our city was focused on a very different type of election last week, another contest has had a shocking turn of events. In January, Colombia beat out Brazil (for the second consecutive month) as the nation with the most searches for South Florida real estate, according to the Miami Association of Realtors. While Brazil had held this distinction for 17 of the previous 19 months, it would seem there is a new rey (or reina) in town. With this shift at the top of the standings, we turn our attention to other aspects of the Miami-Colombia real estate connection. While the two locations have had a long and fascinating relationship, globalization, immigration, and technology have changed the dynamics considerably. Let’s take a closer look in this edition of “South Florida By The Numbers.”

3: While Colombia may have generated the most searches for Miami real estate in January, that nation was tied for third (with Argentina) among nations with the highest percentage of actual South Florida home buyers. Venezuela and Brazil were the leaders in this category, with 13 and 12 percent, respectively. [The Real Deal]

$350 million: Cost to build the upcoming Trump International Hotel & Tower in Bogota, Colombia the Trump organization’s third building in South America. The project has become highly noteworthy for the Palm Beach resident’s (and Republican Party front-runner’s) seemingly contradictory partnership with Latinos and Chinese. (It is being built with Chinese government financing.) [Miami Herald]

10: In 2015, the percentage of Miami’s foreign real estate transactions completed by Colombians. “The indicator of web traffic by country of origin usually foreshadows a boost in U.S. buying by those countries,” said Carlos Gutierrez, 2016 president of Miami Association of Realtors, estimating Colombia will jump up the list of top foreign buyers of U.S. housing this year. [Inman]

40-plus: Number of Colombian officials, industry leaders, business owners, and buyers who sought to promote their country’s emerging nautical tourism industry at the recent 2016 Miami International Boat Show. Since 2010 the Colombian government has made nautical tourism a priority. [Trade Only Today]

372,932: Square footage of Colombian development firm Prodesa’s upcoming mixed-use building in Edgewater, close to the Related Group’s Paraiso condo project. This Arquitectonica-designed building will have 19 stories, 137 residential units, 20,560 square feet of office, 10,020 square feet of retail, and 275 parking spaces. [SFBJ]

This column is produced by the Master Brokers Forum, a network of South Florida’s elite real estate professionals where membership is by invitation only and based on outstanding production, as well as ethical and professional behavior.