Colombia back on top for Miami real estate interest in December
Buyers from Colombia paid an average of $516,000 per Miami property last year
February 22, 2016 02:15PM
Miami’s skyline (Credit: Gabriel Kaplan) and the Colombian flag (Credit: creative commons user ferchos04 II
Colombia toppled Brazil for the most real estate searches in Miami during December, according to a new report from the Miami Association of Realtors.
The association catalogs how many people from each foreign country look at Miami properties through its website every month.
For December, more Colombians searched for properties here than any other country in the world. Brazil has long held that title — for 17 out of the past 18 months — but succumbed to its neighbor for the second time since July 2015.
According to the association, Colombians also tied with Argentinians for buying the third-most amount of Miami real estate out of all foreign countries last year. Each accounted for 10 percent of all foreign property transactions in 2015, and were beat out only by Brazil with 12 percent and Venezuela with 13 percent.
Colombians buying here pay an average of $516,000 per property. They’re typically upper-middle-class families, according to the association.
Heres a list of the countries that searched the most in December. Rising stars include Spain and the Philippines, which both frequently rank lower on the list. — Sean Stewart-Muniz
1. Colombia2. Brazil3. Venezuela4. Argentina5. Philippines6. India7. Spain8. Canada9. France10. Puerto Rico
Source: The Real Deal