MIAMI — Germany posted the most global web searches for Miami homes in October 2022, according to a new report by the MIAMI Association of REALTORS® (MIAMI). Colombia, which had topped the list of foreign countries searching for Miami real estate for the past seven consecutive months, finished second.
“Germany’s surging interest in Miami real estate could be a result of Hurricane Ian’s impact to Southwest Florida and how German buyers, long time purchasers in Southwest Florida, could be shifting their investments to Miami/South Florida,” MIAMI Chairman of the Board Fernando Arencibia Jr. said. “The data continues to show a diverse list of foreign homebuyers searching for Miami real estate.”
Germany accounted for 22.19% of all international searches on MiamiRealtors.com in October 2022, up from 1.66% in October 2021. Most of the searches came from Berlin—the top international city searching MiamiRealtors.com in October 2022.
MIAMI REALTORS® will exhibit with the prestigious Immobilien Verband Deutschland (IVD), a Berlin-based real estate association that represents more than 6,000 member companies, at EXPO REAL from Oct. 4-6, 2023, in Munich, Germany. MIAMI’s major presence at this elite event will create global business opportunities for members and enhance South Florida’s global exposure. About 40,000 participants from 73 countries will participate at 2023 EXPO REAL.
Top-10 Countries Searching MiamiRealtors.com in October 2022:
Country Share of International Searches
- Germany 22.19%
- Colombia 8.96%
- Venezuela 5.49%
- Argentina 5.06%
- Philippines 4.60%
- Russia 3.98%
- United Kingdom 3.60%
- Canada 3.53%
- India 3.19%
- Spain 2.97%
All other countries 36.43%
Top Global Markets for South Florida Real Estate
Argentina purchased the most South Florida real estate among foreign countries in 2021, according to the 2021 Profile of International Home Buyers of MIAMI Association of REALTORS® (MIAMI) Members. Argentina buyers purchased 13% of all international purchases in South Florida. Colombia (12%) and Venezuela (10%) finished second and third, respectively. Access the report: https://bit.ly/22MIAMIGlobalStudy
Florida has finished as the top destination for international buyers for 14 consecutive years, according to the National Association of REALTORS® 2022 International Transactions in U.S. Residential Real Estate. Florida is the No. 1 destination for foreign buyers from Colombia, Canada, Brazil and other countries, according to the study.
South Florida remains a bargain in comparison to other global cities and U.S. metros, the study showed. 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 October 2022
- Berlin, Germany
- Bogotá, Colombia
- Buenos Aires, Argentina
- Medellín, Colombia
- Caracas, Venezuela
- Ahmedabad, India
- Montreal, Canada
- Madrid, Spain
- Barquisimeto, Venezuela
- London, England
Minnesota Remains No. 1 State Searching for Miami Real Estate
Minnesota registered the most domestic Miami real estate web searches for the third consecutive month in October 2022. Minnesota wasn’t ranked among the top-10 out-of-state buyers in the South Florida area in 2021, according to the 2021 Profile of International Home Buyers of MIAMI Association of REALTORS® (MIAMI) Members. New York was No. 1. Access the report: https://bit.ly/22MIAMIGlobalStudy
Top-10 U.S. States Searching MiamiRealtors.com in October 2022
- South Dakota
- North Carolina
Top-10 U.S. Metros Searching MiamiRealtors.com in October 2022
- Fargo-Valley City, ND
- Los Angeles, CA
- Washington, DC
- New York, NY
- Chicago, IL
- Nashville, TN
- Houston, TX
- Atlanta, GA
- Dallas-Ft. Worth, TX
- Columbus, OH
ListHub Top States and Cities Searching the Southeast Florida MLS
ListHub, which is the leading platform nationwide for listing management, provides a detailed report to MIAMI on property views via location of MIAMI’s online consumers.
Top U.S. States Searching the Southeast Florida MLS according to ListHub in October: 1. California; 2. New York; 3. Texas; 4. New Jersey; 5. Georgia
Top Global Markets Searching the Southeast Florida MLS according to ListHub in October: 1. Quebec, Canada; 2. Ontario, Canada, 3. Ha Noi, Vietnam.
Top U.S. Cities Outside of South Florida Searching the Southeast Florida MLS according to ListHub in October: 1. Tampa, 2. Orlando, 3. San Jose, CA; 4. Los Angeles, CA
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 102 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 nearly 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 242 international organizations worldwide. MIAMI REALTORS has launched its new YPN Global and will host the first-ever YPN Global Congress on Feb. 12-15, 2023, in Dubai. MIAMI has been selected to host the prestigious FIABCI World Congress on June 5-9, 2023. MIAMI’s official website is www.MiamiRealtors.com