In 2018, foreign buyers spent $8.7 billion on residential properties in South Florida, up $1.6 billion from the previous year.
According to the Miami Association of Realtors and the National Association of Realtors' newly released 2018 Profile of International Home Buyers Study, foreign buyer activity in South Florida increased by 23% in 2018.
Global homebuyers increased their spending on South Florida properties, Brazil overtook the United States as the top foreign buyer of Miami real estate, and Miami remains the top U.S. destination for international visitors. find property qatar
According to the MIAMI and NAR survey, foreign buyers bought $1 billion more in South Florida residential properties in 2018, bringing the total to $8.7 billion, up from $7.1 billion in 2017. Just 1,000 properties were purchased by foreign buyers in MIAMI in 2018, compared to 14,300 in 2017. (15,300). According to the Florida Realtors 2018 Profile of International Residential Real Estate Activity in Florida, Florida is the top state for foreign buyers, with foreign buyers from South Florida accounting for 54 percent of all Florida international home sales. With 9.4 percent, Orlando came in second, and Tampa came in third with 9 percent. South Florida accounts for about 9.5 percent of all foreign home sales in the United States. Miami is the most popular destination for international buyers.
MIAMI Chairman of the Board José Mara "Chepe" Serrano said, "It is easy to see why Miami remains the top U.S. destination for foreign home buyers because it is diverse, multilingual, and situated in a subtropical environment." "South Florida embraces people of all backgrounds, is expanding its economy, introducing cultural institutions, and attracting new corporate businesses."
More than half of all Florida international home sales occur in South Florida.
According to NAR's 2018 Profile of International Transactions in U.S. Residential Real Estate, Florida is the largest U.S. destination for foreign buyers (19 percent of all sales). According to the Florida Realtors 2018 Profile of International Residential Real Estate Activity in Florida, Miami-Fort Lauderdale-West Palm Beach accounts for more than half of all international home sales in the state (54 percent).
South Florida accounts for about 9.5 percent of all foreign home sales in the United States.
Foreign buyers in South Florida are concentrated in Miami-Dade County.
Global buyers in South Florida were concentrated in Miami-Dade County (65 percent in 2018; 64 percent in 2017). The number of international buyers in Broward County has increased (31 percent in 2018; 25 percent in 2017). Palm Beach County had 4%, the same as last year. Martin County had less than 1%, while the rest of the counties had less than 1%.
According to the latest MIAMI and NAR survey, Miami-Dade County accounts for 51 percent of all foreign home sales in South Florida. Foreign buyer sales rose in the following South Florida counties: Broward (32 percent in 2017 vs. 27 percent in 2016) and Palm Beach (32 percent in 2017 vs. 27 percent in 2016). (9 percent in 2017, up from 4 percent in 2016).