South Florida’s International Real Estate Appeal
South Florida real estate’s international investment appeal is very strong, according to data released recently by the Miami Association of Realtors and the National Association of Realtors, particularly in Latin America, Canada and Pakistan.
The local and national Realtor associations ranked international markets by home purchase market share and web search interest and the results prove South Florida’s high global profile.
For example, Colombian home consumers registered the most international web searches for Miami homes in April, according to a new report by the Miami Association of Realtors. Colombia registered 12.2% of all international searches on the association’s web portal, www.MiamiRealtors.com, in April 2018. Colombia has led the rankings for five consecutive months.
“Miami has name recognition throughout the world and we see it every month in the amount of international consumers interested in Miami real estate,” says George C. Jalil, a Miami broker and the 2018 Miami Association of Realtors chairman of the board.
Pakistan, the fifth-most populous country in the world, had the fourth-most web searches for Miami real estate in April 2018, marking the first time Pakistan finished in the top-10. About 72% of the Pakistan web traffic came from Karachi, Pakistan.
The top 10 countries that visited MiamiRealtors.com in April 2018 in terms of market share of international searches were: Colombia, 12.2%; Venezuela, 9.6%; Canada, 6.1%; Pakistan, 6.0%; Argentina, 5.5%; Brazil, 4.9%; India, 4.5%; Dominican Republic, 3.8%; Peru, 3.4% and Spain, 3.2%.