Colombia and India top list of countries searching for Miami homes in 2018

New York, California among top states looking for residential properties

Miami /
May.May 03, 2019 04:31 PM
A map of Florida (Credit: iStock)

A map of Florida (Credit: iStock)

UPDATED, May 3, 5:50 p.m.: The landscape of international buyers looking to purchase homes in Miami is shifting.

Colombia, India and Venezuela topped the list of foreign countries searching for residential properties on MiamiRealtors.com in 2018, according to the Miami Association of Realtors. The list tracks web searches using the association’s portal.

Colombian users represented nearly 12 percent of foreign searches for Miami homes last year, followed by users from India with nearly 9 percent, and Venezuelans with about 8 percent. Canada followed with 6 percent of all international searches.

Here’s the full list:

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

While Colombians were hunting for Miami homes the most, Brazilians outspent them in 2018.

Brazil ranked as the top country buying South Florida homes in 2018, according to the association.

Unsurprisingly, Miami was top of mind for New Yorkers last year. Potential buyers from the state of New York registered the most web searches of any state on the association’s website in 2018, at 18 percent. South Florida has seen an increase in buyers from high-tax states like New York in large part thanks to the December 2017 federal tax overhaul, which limited the ability of taxpayers to deduct state and local taxes from their income.

After New York, potential buyers from Texas represented 11 percent of web searches, followed by California with nearly 11 percent, Georgia with 7.8 percent and North Carolina with 7.5 percent.

South Florida was also the most searched market in the U.S. by foreign buyers, as is usually the case.

Correction: An earlier version of this story cited an incorrect percentage of users from Colombia based on information from the Miami Association of Realtors. 


Related Articles

arrow_forward_ios
 Adam Neumann (Getty, Bal Harbour Florida)
Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
Ex-WeWork CEO Adam Neumann inks $44M deal for Bal Harbour properties
Alex Sapir and Giovanni Fasciano with Arte by Antonio Citterio in Surfside (Photos via Arte by Antonio Citterio/PR Newswire)
Miami penthouse sets cryptocurrency sale record: $22.5M
Miami penthouse sets cryptocurrency sale record: $22.5M
(iStock)
South Florida resi construction starts soar in March
South Florida resi construction starts soar in March
Eden Multifamily heads Jay Massirman and Jay Jacobson with Cypress Equity Investments CEO Michael Sorochinsky (rendering courtesy of MSA Architects)
Eden Multifamily, Cypress Equity score $24M construction loan for Tamarac apartments
Eden Multifamily, Cypress Equity score $24M construction loan for Tamarac apartments
(iStock)
Home prices across globe hit records, prompting worries of bubble
Home prices across globe hit records, prompting worries of bubble
Steven and Beth Millner with One Thousand Ocean (Patrick McMullan/Getty, Google Maps)
Private equity honcho pays $5M for Boca Raton condo
Private equity honcho pays $5M for Boca Raton condo
From left: Jim Cohen, Nancy Corey, Nathan Zeder, Alicia Cervera Lamadrid, Phil Gutman and Mike Pappas (iStock)
South Florida’s pandemic-fueled residential market poised for bull run in 2021
South Florida’s pandemic-fueled residential market poised for bull run in 2021
Kathleen DuRoss Ford and 300 North Lake Way (Getty, Google Maps)
Kate Ford’s Palm Beach estate sells for $55M
Kate Ford’s Palm Beach estate sells for $55M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...