Profile of International Home Buying in Miami

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Highlights

  • MIAMI’s foreign buyer residential purchases during August 2017–July 2018 increased to $8.7 billion ($7.1 billion in 2017), or 50 percent of the dollar sales volume.

  • While dollar volume rose, foreign buyer purchases decreased to 14,300 units (15,300 in 2017), or 33 percent of closed sales.

  • Non-resident foreign buyers (Type A) accounted for 63 percent of MIAMI’s foreign buyers compared to 39 percent nationally.

  • The top five buyers accounted for half of MIAMI’s foreign buyers: Brazil (12 percent), Colombia (11 percent), Venezuela (11 percent), Argentina (8 percent), and Canada (8 percent). The fraction of Brazilian and Colombian buyers increased compared to their shares one year ago.

  • Foreign buyers who primarily reside abroad accounted for 69 percent of MIAMI foreign buyers compared to 42 percent nationally.


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