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Colombian interest in Miami real estate holds steady into 2018

Potential buyers from Venezuela and Canada followed Colombia
By Katherine Kallergis | March 14, 2018 06:00PM

South Florida with Colombian flag (Credit: Wikimedia Commons, Pixabay)

Colombians continued searching for Miami homes in January, according to a new report from the Miami Association of Realtors.

Potential buyers from Colombia again led a ranking of foreign nationals searching for South Florida homes using the association’s website, with 12.6 percent of the total, up from 10.5 percent the previous month. The list also includes Venezuela with 9.5 percent and Canada with 7 percent.

Foreign investment in residential real estate in South Florida totaled $7.1 billion last year, up nearly 15 percent from the previous year’s $6.2 billion. Colombian and Canadian home buyers tied for the third-most international home purchases in South Florida last year with 9 percent, each.

Check out the full list for January:

  1. Colombia: 12.6%
  2. Venezuela 9.5%
  3. Canada 7.0%
  4. Brazil 5.8%
  5. Argentina: 5.0%
  6. India: 4.1%
  7. Peru: 3.9%
  8. Spain: 3.2%
  9. Philippines: 3.1%
  10. Dominican Republic: 2.7%

Within the U.S., those most interested in buying residential real estate in South Florida were from Texas, North Carolina, California, New York and Georgia, according to the report.