This year has seen the Miami Association of Realtors make some big moves to strengthen its international network, which included association representatives traveling to India in August to try and sell the South Florida market.

“India is one of the fastest growing economies in the world and ranks among the largest foreign buyers of U.S. real estate,” MIAMI CEO Teresa King Kinney said.

In fact, India is the third-largest foreign buyer of U.S. residential real estate, according to the National Association. Indian buyers from April 2015 to March 2016 accounted for $6.1 billion in transactions, behind only China ($27.3 billion) and Canada ($8.9 billion). And in Miami, their presence is growing.

A growing demographic in Miami

Kinney said: “Indian home buyers and investors are increasingly purchasing Miami real estate because of our growing job base, robust technology hub, diversity and world-class educational opportunities.”

A big indicator of Indian buyers’ and investors’ growing interest in Miami’s market is the number of foreign property searches on Miamire.com originating from the country. India has ranked among the top 10 countries searching the website every month for almost three years.

It’s because of this apparent interest that MIAMI participated in India’s largest real estate event, NAR-INDIA, where representatives met and provided printed reference materials with South Florida market stats to brokers from India and around the globe.

Getting ahead of India’s housing bubble

But website hits may not be the only motivator for the association. India’s inflating residential real estate market, which many experts predict is experiencing a bubble that may soon collapse, is keeping investors away from the markets, and soon, everyday buyers may follow suit.

In an interview with India-based ET Realty, Saurabh Mukherjea, CEO of Institutional Equities, Ambit Capital, said that India’s “current status quo in real estate is untenable and therefore, we are heading towards a steep correction in residential real estate prices.” He added: “The real estate slow down has already started impacting rural wage growth and consumption.”

For MIAMI, being front of mind may mean a surge of new buyers should the Indian real estate bubble pop.