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Brazil tops list of foreign countries searching for Miami homes in February: report

A view of the Brickell skyline from 2009 (Credit: Creative Commons user MiamiTom) and Brazil’s flag (Credit: Max Hendel)

Brazil was the top country searching for Miami real estate in February, marking another sign that Brazilian buyers might be back in South Florida. 

Brazil led the Miami Association of Realtors’ ranking of foreign countries using to browse for Miami homes in February, following months led by Canada, Russia, Venezuela and Colombia.

It could mark a homecoming for Brazilian investors, who led the association’s ranking for 13 consecutive months from June 2014 to June 2015. In 2016, home buyers from Brazil were the third largest international group with 10 percent of all foreign deals in South Florida. Just last week, a Brazilian buyer paid $6.25 million for a waterfront home in Golden Beach.

Earlier this year, Bloomberg reported that Brazilians are now picking up investment properties in South Florida instead of second homes.

In February, Venezuela and Colombia ranked second and third, respectively, in terms of web searches for South Florida real estate on the association’s website. Russia, which in recent months fell as quickly as it rose, also showed more interest in Miami homes in February, coming in at No. 5 on the list. Mexico also made an appearance with the 10th most foreign searches of South Florida homes.

Check out the top 10 on the list:

  1. Brazil
  2. Venezuela
  3. Colombia
  4. Canada
  5. Russia
  6. India
  7. Argentina
  8. Philippines
  9. Spain
  10. Mexico

Source : TheRealDeal

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