Canadian Searches for Miami Properties Dominate Foreign Countries
January 26, 2017For the second time in less than five years, buyers from Canada have dominated the online search list for foreign countries interested in properties in Miami. Canada was also found at the top of this list in November 2013.
Canada stole the lead from Columbia in October 2016. Columbia was found at the top of the list in both December 2015 and September 2016. While Brazil has led this list before, the country actually fell to fifth, while India jumped up to the third spot.
India has actually become the third largest foreign buyer of real estate across the entire United States, according to the National Association of Realtors. Chinese buyers still top the list across the country with Canada coming in second overall.
Canada has also become one of the most active countries for buying South Florida real estate. About 7% of all the South Florida real estate foreign sales in 2015 came from buyers in Canada. The largest percentage of cash purchases were also made by Canadian buyers with 86%, which topped Argentina, Brazil and Venezuela.
The top ten countries for online searches in Miami from October 2016 included:
- Canada
- Columbia
- India
- Venezuela
- Brazil
- Argentina
- Philippines
- Spain
- France
- UK
