Foreign investors and homebuyers love real estate in the United States. So of course many of them flock to the Sunshine State and its best city, Miami. According to new statistics from the Miami Association of Realtors, Brazilian homebuyers lead foreigners in searches for real estate in South Florida. The nation was the top international country using Miami’s search portal www.Miamire.com. They have led for 16 out of the last 17 months. The one month they were not on top, Columbia was.
Brazilian homebuyers are not just searching for real estate, they are purchasing it as well. According to the 2014 Survey of International Home Purchases conducted by the National Association of REALTORS® (NAR) for MIAMI, Brazilians purchased the third-most real estate in South Florida out of all foreign buyers. Brazilian buyers accounted for 11 percent of foreign home purchases in South Florida in 2014. The top countries were Venezuela and Argentina.
Why Brazilian Homebuyers Love Miami
Miami has so much to offer that foreigners, and especially Brazilians, cannot resist. Most of the Brazilians who move to South Florida, including Miami, are upper-middle-class. They want to use the prosperity they earned in Brazil and have a home in a beautiful, world-class city in the United States. In the past, Brazilians have even spent the most on real estate out of all foreign buyers in Miami-Dade and Broward. The average sale price from purchases by Brazilians was $495,000 compared to $245,000 among all buyers in Florida.
“Like all international home buyers, Brazilians are at home in South Florida and love the world-class amenities, restaurants, shopping and security of investment,” said Christopher Zoller, a 27-year Miami-based Realtor and the 2015 Residential President of MIAMI.
Foreign homebuyers are expected to continue to buy during this upcoming year. There are many foreign countries with buyers searching in South Florida- the top five being Brazil, Venezuela, Columbia, Argentina, and India. Clearly a world-class city that’s popular with buyers, do not miss your chance to buy a home in Miami. Contact a RE/MAX Paradise agent today!