Russians stopped looking for Miami real estate during January: Realtors report

Miami skyline. Inset: Canadian flag
Miami skyline. Inset: Canadian flag

After leading web searches for Miami real estate in November and December, Russia fell to No. 29 on the Miami Association of Realtors’ ranking in January.

Canada, meanwhile, took the top spot for South Florida property searches for the first month of 2017. Canadians have invested in Florida real estate for decades. Last year, buyers from Canada ranked fourth among foreign countries for South Florida home purchases, with 6 percent of all international deals.

January is the second month that Canada led the association’s list of countries using to look for South Florida real estate. Canada took the lead from Colombia in October.

Russia, which topped the list for the first time in November and December, fell all the way down to No. 29. Brokers and developers have said that Russian buyers are back in South Florida with the expectation that President Donald Trump will lift U.S.-imposed sanctions against Russia. In South Florida, there’s a higher concentration of Russian buyers in Sunny Isles Beach.

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After Canada, users from Brazil, Colombia and Venezuela were looking for Miami real estate in January.

Here’s are the top 10:

  1. Canada
  2. Brazil
  3. Colombia
  4. Venezuela
  5. Argentina
  6. India
  7. Turkey
  8. Philippines
  9. Spain
  10. France

In the U.S., New Yorkers searched the most for South Florida homes in January, mirroring eight of the previous nine months. Investors from New York have been active in residential and commercial real estate in South Florida.