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Colombia remains No. 1 country searching Miami property

by Reiley Bonislawski

Miami-property-taxes-nahb-real-estate-palm-beach-broward-dade

Colombia finished as the top foreign country to visit Miamire.com looking into South Florida real estate for seven consecutive months, according to the latest report from the Miami Association of Realtors.

In recent years, South Florida has appealed to Colombian buyers – many of whom are upper-middle-class families. Last year, Colombian buyers accounted for 10 percent of all foreign South Florida residential real estate sales, with an average purchase price of $516,000 – second only to Brazilian buyers, who averaged $766,000.

Colombia isn’t the only country interested in Miami

While miamire.com visitors from Colombia hold the top spot in MIAMI’s rankings, it is not the only country interested in South Florida – a fact made evident in May when realtor.com named the region the No. 1 U.S. market for international consumers.

Country June 2016 Rank June 2015 Rank
Colombia 1 2
Venezuela 2 4
Brazil 3 1
Argentina 4 7
Canada 5 3
Spain 6
India 7 8
France 8 9
United Kingdom 9
Philippines 10

In the rankings, Venezuela was a close second, jumping two spots from the same time last year. The association also recorded a year-over-year surge in the rankings from Spain, United Kingdom. and the Philippines. However, it is unclear whether those countries’ jumps were the result of increased interest, or rather falling interest from turmoiled countries like Brazil, Canada, Russia and the Ukraine, which all dropped in the rankings dramatically – including Russia and Ukraine falling out of the top 10 altogether.

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