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

New York, California among top states looking for residential properties

TRD 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
Gables Town Colony apartment complex, Sue Ansel of Gables Residential

Gables Residential scores $85M loan for Boca Raton apartment complex

Gables Residential scores $85M loan for Boca Raton apartment complex
Broadstone City Center with Alliance Residential’s Bruce Ward and Nuveen CEO Jose Minaya

Nuveen pays $103M for West Palm luxury apartments

Nuveen pays $103M for West Palm luxury apartments
Edmund Ansin and the property (Credit: Google Maps)

Billionaire TV family sells Miramar property to Florida Crystals

Billionaire TV family sells Miramar property to Florida Crystals
Toscana apartments and Juan Porro of FCI Residential

Florida Crystals sells Margate rentals for $60M

Florida Crystals sells Margate rentals for $60M
From left: Andrea and Renzo Rosso

Diesel family dishes on Wynwood condo project

Diesel family dishes on Wynwood condo project
 4601 Le Jeune Road, Jose Boschetti and Maurice Boschetti

Gables Residential sells dev site near Shops at Merrick Park

Gables Residential sells dev site near Shops at Merrick Park
Patti and Allan Herbert with 4845 Southwest 78th Street (Credit: University of Miami and Redfin)

After selling their Richmond Hotel in Miami Beach, this couple bought a new house

After selling their Richmond Hotel in Miami Beach, this couple bought a new house
Greg Pinkalla and ORA Flagler Village Apartments (Credit: Google Maps)

Fairfield Residential sells new Flagler Village apartments for $92M

Fairfield Residential sells new Flagler Village apartments for $92M
arrow_forward_ios

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

Loading...