The International real estate buyers focused their interest in 2023 in South Floridaaccording to a report on the real estate sector in the United States. Colombians are among the people who bought real estate the most in the Sunshine State, only behind the Canadians and followed by the nationals of Brazil, Argentina and the United Kingdom.
“Purchases by international buyers were largely concentrated in South Florida, with 47 percent of purchases occurring in the Miami-Fort Lauderdale-West Palm Beach metropolitan statistical area“, indicates the report Profile of International Transactions in Florida 2023prepared by real estate specialists Florida Realtors.
To conduct the study, Florida Realtors sent surveys to 238,000 real estate agents across the state in August 2023. By September 25, when the response period closed, 1,104 agents reported that they had closed at least one real estate transaction. international purchase during the period from August 2022 to July 2023. In addition, Questions were raised to weigh the interference of foreign buyers in the area.
Thanks to the survey, it was possible to identify that in the period between August 2022 and July 2023, real estate sales closed with international buyers decreased 18 percent compared to the immediately previous period. This is equivalent to 19,500 transactions being recorded, while between 2021 and 2022, there were 23,700 sales.
Latinos buy more properties in Florida
“Latin American and Caribbean buyers continue to represent the largest fraction of international buyers in Florida, at 46 percent in 2023. The share of buyers from the North American region (virtually all of them Canadian) has decreased very slightly, but continues to occupy second place at 18 percent,” indicates the report from the Florida Realtors organization.
The countries that registered the most international purchases are Canada (18 percent), Colombia (10 percent), Brazil (7 percent), Argentina (7 percent) and the United Kingdom (4 percent). While in terms of money, the first five purchase volume positions in US dollars are distributed as follows:
- Canada: US$2,133,000,000,000
- Brazil: US$1,451,000,000,000
- Colombia: US$982,000,000
- Peru: US$539,000,000
- Mexico: US$524,000,000
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