Brazil Is Top International Country Searching For Miami Real Estate

Photos courtesy of Christopher Zoller, EWM Realty International.

Brazil is the top foreign country searching for Miami real estate, according to new data from the MIAMI Association of REALTORS® (MIAMI). Brazil registered the most South Florida property searches among all countries on MIAMI’s portal, www.Miamire.com, in February 2017.

Brazil led the MIAMI rankings for 13 consecutive months, from June 2014 through June 2015. The South American country had been rising in the rankings recently, finishing second in January 2017. Venezuela and Colombia finished second and third, respectively, in February 2017. Russia, which led the rankings in November and December, had the fifth-most web searches. Mexico makes its first appearance in the Top 10 since it took No. 10 in May 2016.

Brazilian home buyers purchase the third-most South Florida real estate among all international consumers, according to the 2016 Profile of International Home Buyers of MIAMI Association of REALTORS® (MIAMI) Members. Brazilians had a 10 percent share of all international purchases in South Florida. Venezuela (15 percent) and Argentina (11 percent) finished ahead of Canada.

Brazilian consumers had the highest average purchase price ($775,000) among South Florida international clients, according to the 2016 MIAMI report.

The top-10 countries visiting Miamire.com in February 2017:

1.    Brazil

2.    Venezuela

3.    Colombia

4.    Canada

5.    Russia

6.    India

7.    Argentina

8.    Philippines

9.    Spain

10.  Mexico

“Brazilians and South Americans have long been drawn to Miami and our global city,” said Christopher Zoller, the 2017 MIAMI chairman of the board. “But what’s interesting about the February 2017 search rankings is its continental diversity. South America, North America, Asia and Europe are all represented, and that’s reflective of the diversification of Miami real estate buyers.”