The Real Deal Miami

Foreign buyers dominate Miami sales

August 19, 2010 10:30AM

An estimated 60 percent of home sales in South Florida today involve a
foreign buyer, according to the Miami Association of Realtors. This is
not a new phenomenon in Florida, which is home to more than 20 percent
of international sales in the U.S., by far the largest state for
foreign buyers. The buyers are largely European and South American. For
years, international buyers have represented anywhere from 30 to 50
percent of sales in Miami and other tourist areas. Middle Eastern
investors have been largely fleeing
the U.S. market
, however. [International
Property Journal]