Look who’s buying up Miami Real Estate
Although the market is not as hot, international investors spent $ 7.1 billion on South Florida homes in 2017, an increase of almost 15% over the previous year, which totaled $ 6.2 billion.
The number one investor in South Florida was Argentina with 15% of all foreign purchases last year, reported the Miami Association of Realtors. Venezuela in second, spending the most in Miami-Dade, Broward, Palm Beach and Martin counties with 11%, tailed by Canada and Colombia with 9% each, and Brazil with 8%.
Venezuelans spent the most than any other country in Miami-Dade, which represents 51% of all foreign deals in South Florida, leading with 12%. Argentinians and Brazilians spent the second-most in the county with 9%, Colombians 5%, and French with 4%. In the fifth position was a tie between Ecuador and Italy with 3%.
While in Miami-Dade Venezuelans are leading, in Broward and Palm Beach counties Canadians lead investments. See below the breakdown:
Brazil, Colombia, and Venezuela: 6%