The Miami real estate market continues to make great strides in the U.S. housing market recovery, with much of activity focused in foreign purchases. The Miami Association of Realtors reports that the majority of these buyers hail from Brazil, while Canadians also dip into the market. The survey also shows that South Florida is favored among all other regions in the state and analysts say Brazilians favor this location among all other regions in the U.S., and not just in Florida. Other active foreign buyers are based in Venezuela, Colombia, Argentina and several locations in Europe. For more on this continue reading the following article from Property Wire.
Brazilian buyers appear to be increasingly interested in properties in Miami, Florida, topping the latest list of international searches compiled by the Miami Association of Realtors
In second place are Canadian buyers, followed by those from Columbia, Venezuela, Spain, Argentina, France, the UK and Italy.
Trends also show that South Florida remains the top area in the nation for international real estate buyers and consumers, evidenced by statistics from the MIAMI website, which has received more than one million visits between January and May 2013.
Today Miami has more than 100 partnerships with real estate associations worldwide, including FENACI, COFECI, and Balneario Camboriu in Brazil. It also shares listings with associations in Brazil through its landmark International Data Exchange, which further promotes Miami members and the South Florida market.
As a result, Brazilian buyers consistently rank in the top three countries of origin investing in Miami real estate.
‘Miami continues to be a top choice for Brazilian buyers who feel at home in Miami and are attracted by the local lifestyle, culture, and thriving real estate market,’ said Miami chairman of the board Natascha Tello.
‘Our relationships further boost already strong interest in our market, as affluent Brazilians prefer Miami over any other market in Florida and the United States,’ she added.
Nationally, Miami is consistently one of the top markets for most of the highest ranking countries searching for property in the US.
Miami again ranked second only to Los Angeles among the top 10 overall most searched US cities by non US consumers throughout the month of May 2013. Fort Lauderdale ranks tenth. If the Miami-Fort Lauderdale real estate market were combined, the ranking would be even higher.
‘A growing number of buyers from worldwide markets are showing interest in all that Miami has to offer, as our website becomes a top portal for international consumers,’ said Fernando Martinez, residential president of the Miami Association of Realtors.
‘Foreign buyers and investors know that Miami and South Florida offer profitable opportunities and want to preview what’s available and take advantage of the local affordability combined with world class amenities,’ he added.
This article was republished with permission from Property Wire.