Colombia Again No. 1 in Miami Real Estate Global Searches, Spain Stays in Top 3

[ad_1]

Colombia again registered the most global web searches for South Florida real estate in July 2024, according to a new report by the MIAMI Association of REALTORS® (MIAMI).

MIAMI, Sept. 3, 2024 /PRNewswire-PRWeb/ -- Colombia again registered the most global web searches for South Florida real estate in July 2024, according to a new report by the MIAMI Association of REALTORS® (MIAMI). Colombia, which is also South Florida's top global buyer, has now finished in the top-two countries searching Miami real estate in each of the last 28 months.

"More than 150 countries from four continents searched Miami real estate in one month," 2024 MIAMI Chairman of the Board Gus Fonte said. "That speaks to the power of the Miami brand, to the power of the Miami lifestyle. We're blessed to live where the world wants to live, a place that welcomes all countries, all cultures."

Spain remains in the top 3 for the second consecutive month. In June 2024, MIAMI REALTORS® partnered with the Spanish International Realty Alliance (SIRA) to host the YPN Global Congress in Valencia, Spain. Attendees then attended Inmociónate 2024, the largest real estate event in the Spanish-speaking world for a day and a half of education, networking and fun.

About 153 countries searched MiamiRealtors.com, which has three consumer-facing property search portals, in July 2024. The top-10 includes countries from five continents: North America, South America, Europe and Asia.

Top 10 Countries Searching MiamiRealtors.com in July 2024:

Country

Share of International Search

1. Colombia

9.9 %

2. Germany

7.3 %

3. pain

6.9 %

4. China

6.4 %

5. Canada

5.7 %

6. Venezuela

5.5 %

7. Argentina

5.4 %

8. India

5.0 %

9. Philippines

3.9 %

10. United Kingdom

3.9 %

All other countries

40.1 %

Top Global Markets for South Florida Real Estate Colombia purchased the most South Florida real estate among foreign countries in 2023, according to the 2023 Profile of International Home Buyers of MIAMI Association of REALTORS® (MIAMI) Members. Colombian buyers purchased 15% of all international purchases in South Florida. Argentina (14%), Brazil (7%), Venezuela (6%) and Canada (6%) rounded out the top 5, respectively. Access the report: https://bit.ly/2023MIAMIGlobalStudy

Florida is the top U.S. destination for foreign buyers (23% of all sales), according to NAR's 2023 Profile of International transactions in U.S. Residential Real Estate. Florida has been the No. 1 state for foreign home buyers for the last 15 years.

Story continues

More than half of all international home sales (47%) in Florida are in Miami-Fort Lauderdale-West Palm Beach, according to the 2023 Florida Realtors' annual Profile of International Residential Real Estate Activity in Florida.

One in five of all U.S. international home sales happen in Florida and one in two in Florida are in the Miami metro market. South Florida secures about 11% of all global home sales in the entire U.S. annually.

Miami remains a bargain for prime property ($1M and up) compared to other global cities, according to the 2023 Knight Frank Wealth Report. For $1M, homebuyers can purchase 64 square meters of prime property in Miami. That is almost four times more than Monaco (17 square meters), nearly two times more than New York (33) and London (34) and more than Paris, Sydney, Tokyo and more.

When looking at all price ranges, South Florida is also a bargain in comparison to other global cities and U.S. metros, according to the NAR 2023 International Study. 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 2024 1. Bogotá, Colombia 2. Frankfurt, Germany 3. Madrid, Spain 4. Buenos Aires, Argentina 5. Caracas, Venezuela 6. Paris, France 7. London, England 8. Toronto, Canada 9. Santo Domingo, Dominican Republic 10. Medellin, Colombia Virginia No. 1 State Searching for Miami Real Estate Virginia registered the most domestic Miami real estate web searches in July 2024.

New York was the top state for out-of-state buyers in the South Florida area, according to the 2023 Profile of International Home Buyers of MIAMI Association of REALTORS® (MIAMI) Members. Access the report: https://bit.ly/2023MIAMIGlobalStudy

Top 10 U.S. States Searching MiamiRealtors.com in July 2024 1. Virginia 2. New York 3. Georgia 4. Ohio 5. California 6. North Carolina 7. Michigan 8. Kansas 9. Indiana 10. Texas

Top 10 U.S. Cities Searching MiamiRealtors.com in July 2024 1. New York, NY 2. Atlanta, GA 3. Los Angeles, CA 4. Des Moines, IA 5. San Antonio, TX 6. San Jose, CA 7. Washington, D.C. 8. Chicago, IL 9. Columbus, OH 10. Charlotte, NC

About the MIAMI Association of Realtors® The MIAMI Association of Realtors (MIAMI) was chartered by the National Association of Realtors in 1920 and is celebrating 104 years of service to Realtors, the buying and selling public, and the communities in South Florida. Comprised of six organizations: MIAMI RESIDENTIAL, MIAMI COMMERCIAL; BROWARD-MIAMI, a division of MIAMI Realtors; JTHS-MIAMI, a division of MIAMI Realtors in the Jupiter-Tequesta-Hobe Sound area; MIAMI YPN, our Young Professionals Network Council; and the award-winning MIAMI Global Council. MIAMI REALTORS represents 60,000 total real estate professionals in all aspects of real estate sales, marketing, and brokerage. It is the largest local Realtor association in the U.S. and has official partnerships with 260 international organizations worldwide. MIAMI's official website is http://www.MiamiRealtors.com

Media Contact

Chris Umpierre, MIAMI Association of REALTORS, 3054687047, chris@miamire.com, www.MiamiRealtors.com

Twitter

Cision

View original content to download multimedia:https://www.prweb.com/releases/colombia-again-no-1-in-miami-real-estate-global-searches-spain-stays-in-top-3-302233021.html

SOURCE MIAMI Association of REALTORS

[ad_1]

Source link : http://www.bing.com/news/apiclick.aspx?ref=FexRss&aid=&tid=66d70deedc704315a6c2aadabefab7a9&url=https%3A%2F%2Ffinance.yahoo.com%2Fnews%2Fcolombia-again-no-1-miami-130800843.html&c=14665335984574490578&mkt=en-us Author : Publish date : 2024-09-03 02:08:00 Copyright for syndicated content belongs to the linked Source .

Colombia Again No. 1 in Miami Real Estate Global Searches, Spain Stays in Top 3

Things to Do in Monteverde, Costa Rica: Your FULL Guide!

America Movil, Telefonica mull WOM as…

America Movil, Telefonica mull WOM as...

Unlocking Potential: The Case for Prioritizing U.S. Mining

Arizona Soars: A Stellar Rise in ESPN FPI Rankings and AP Poll!

Saint Lucia in the Spotlight: What a Potential Travel Ban Could Mean for Caribbean CBI Nations

Arkansas Soybean Farmers Poised for Gains from China Deal, Yet Experts Warn of Potential Challenges Ahead

Unlocking Renewable Energy: St. Vincent & the Grenadines’ Innovative Closed-Loop Geothermal Project

California Takes a Stand: Gavin Newsom Launches New Portal to Tackle ICE Agent Misconduct

Exploring the Impact of the Landmark United States v. Carolene Products Co. Case

Choose Your Nation: GOP Senator Advocates for Ending Dual Citizenship!

Trump’s Bold Decision to Support Argentina Ignites Fury Among ‘America First’ Advocates

Devastating Pickup Truck Explosion in Ecuador Leaves One Dead and Two Injured

Categories

Archives