The Real Deal Miami

Brazil tops world for SoFla property searches — again

Interest from Russia and the Ukraine is on the rise
By Sean Stewart-Muniz | August 28, 2015 04:30PM

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

For the 13th month in a row, Brazil has ranked as the top foreign country searching for real estate in South Florida.

The ranking comes from the Miami Association of Realtors, which used search data from its website to gauge which countries took the greatest interest in the local market in June.

Brazil has now maintained its intrigue for more than a year, while interest from other countries has strengthened or waned.

Chris Zoller, the Miami Association of Realtor’s 2015 residential president of Miami

And Brazilians aren’t just window shoppers, either: They pay more on average than any other international demographic by $51,000 — for a total of $495,000 per property — and the country accounted for 11 percent of all of South Florida’s international property transactions in 2014. Only Venezuela and Argentina had a larger involvement in the market, representing 16 percent and 12 percent of international real estate sales, respectively.

“Brazil perennially ranks among the top international markets purchasing Miami real estate,” Christopher Zoller, the association’s 2015 residential president of Miami, said in a statement. “Brazilians not only love Miami’s shopping, restaurants, and beaches, but they love Miami’s diversity and are totally at home here. Miami, which has thousands of Brazilians living here, is America’s most international city with 51 percent of residents born in foreign countries.”

Meanwhile, interest from Russia and the Ukraine are on the rise. Russia, which finished with the seventh-most searches in May, rose to fifth place in June. And Ukraine placed sixth, registering for the first time among the top-10 searches.

Here’s a complete list of the top 10 countries searching for SoFla properties in June:

  1.    Brazil
  2.    Colombia
  3.    Canada
  4.    Venezuela
  5.    Russia
  6.    Ukraine
  7.    Argentina
  8.    India
  9.    France
  10.   Italy