MIAMI — Colombia posted the most global web searches for Miami homes in July 2022, according to a new report by the MIAMI Association of REALTORS® (MIAMI). Colombia has now topped the list of foreign countries searching for Miami real estate for five consecutive months as South Florida continues to see surging global buyer demand with pandemic-related protocols relaxing and unstable political situations developing around the world.
“South Florida has an incredible Colombian community; they are part of the vibrant and diverse cultural fabric of our city which along with our welcoming disposition play a major role in Miami being the No. 1 destination in the U.S. for global buyers,” MIAMI Chairman of the Board Fernando Arencibia Jr. said.
Colombia accounted for 12.81% of all international searches on MiamiRealtors.com in July 2022, close to the country’s 13.02% search total in June 2022. China made the biggest move among countries, skyrocketing up 13 spots to No. 2 with a 9.15% share, up from 2.11% in June 2022. Homebuyers from more than 160 countries search MiamiRealtors.com each month.
Top-10 countries Searching MiamiRealtors.com in July 2022:
Country Share of International Searches
- Colombia 12.81%
- China 9.15%
- Venezuela 6.35%
- Spain 6.21%
- United Kingdom 4.93%
- Argentina 4.67%
- Canada 4.65%
- Philippines 3.90%
- Brazil 3.63%
- Mexico 3.35%
All Other Countries 40.35%
Colombia: A Top Market for South Florida Real Estate
Colombia purchased the second-most South Florida real estate among foreign countries in 2021, according to the 2021 Profile of International Home Buyers of MIAMI Association of REALTORS® (MIAMI) Members. Colombia buyers purchased 12% of all international purchases in South Florida. Argentina (13%) finished first. Venezuela (10%) finished third. Access the report: https://bit.ly/22MIAMIGlobalStudy
Florida has finished as the top destination for international buyers for 14 consecutive years, according to the National Association of REALTORS® 2022 International Transactions in U.S. Residential Real Estate. Florida is the No. 1 destination for foreign buyers from Colombia, Canada, Brazil and other countries, according to the study.
South Florida remains a bargain in comparison to other global cities and U.S. metros, the study showed. Miami-Fort Lauderdale-West Palm Beach’s price per square meter is $3,170, far below at least 30 global cities and 13+ U.S. Metros including markets such as Hong Kong ($28,570), New York City ($17,191), San Francisco-Oakland-Hayward, CA ($8,250), Madrid, Spain ($6,173), Los Angeles-Long Beach-Glendale, CA ($4,740) and Seattle-Tacoma-Bellevue, WA ($4,460).
Top-10 International Cities Searching MiamiRealtors.com in July 2022
- Bogotá, Colombia
- Medellín, Colombia
- Buenos Aires, Argentina
- Caracas, Venezuela
- Montreal, Canada
- Barquisimeto, Venezuela
- Arjona, Colombia
- Barranquilla, Colombia
- Madrid, Spain
- Sao Paulo, Brazil
Washington: #1 State Looking for Miami Homes for Second Consecutive Month
Washington registered the most domestic Miami real estate web searches in July 2022. Texas ranked as the No. 10 out-of-state buyer in the South Florida area in 2021, according to the 2021 Profile of International Home Buyers of MIAMI Association of REALTORS® (MIAMI) Members. New York was No. 1. Access the report:
Top-10 U.S. States Searching MiamiRealtors.com in July 2022
1. Washington
- Virginia
- California
- Texas
- New York
- Georgia
- North Carolina
- Ohio
- Illinois
- Michigan
Top-10 U.S. Metros Searching MiamiRealtors.com in July 2022
- Washington, D.C.
- New York, NY
- Atlanta, GA
- Los Angeles, CA
- Chicago, IL
- Dallas-Ft. Worth TX
- Columbus, OH
- Houston, TX
- Charlotte, NC
- San Francisco-Oakland-San Jose, CA
