Miami Real Estate Market Is the Number One Global Real Estate Destination

According to a survey conducted last 2014 by the National Association of Realtors for the Miami Association of Realtors, Miami real estate market is the top real estate destination for foreign countries. The survey shows that there are more foreign clients in Miami compared to the rest of the America. According to NAR, 72% of the members of Miami-Dade and Broward worked with international clients. The result is significantly greater than the national average of only 28%.

Foreign clients are attracted to Miami’s beaches and amenities according to Chris Zoller, the Residential President of Miami Association of Realtors. South Florida real estate is a good place to invest because it offers foreign real estate consumers with a lot of good opportunities. After all, South Florida has more than a thousand of multinational companies.

The top 10 countries that invested in real estate properties in Miami-Dade and Broward include Venezuela, Argentina, Brazil, Colombia, Canada, France, Mexico, Italy, Ecuador and Peru.
The surveys also analyzed South Florida’s investment by county. The top countries that specifically invested in real estate in Miami-Dade include Venezuela, Argentina, Brazil, Mexico, Canada, Italy, Peru, Spain, Ecuador, Dominican Republic and Chile.

Miami property management noticed that majority of international clients purchase high-end properties such as condominiums in urban communities. They mainly use these properties as vacation homes and rental investments. About 81% of foreign clients in South Florida purchase homes with cash rather than financing.

Source: florida.realestaterama.com