Foreign Buyers Spent $8.7B in South Florida Housing Purchases

The decline goes as far back as March of 2017, when Florida home sales to foreign buyers totaled more than 60,000. The number of transactions dropped to 50,000 in 2018 before dipping to 36,000 in 2019. Despite the massive decline, Florida still attracts the most foreign buyers than any other state across the U.S.

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The 2016 Profile of International Activity in U.S. Residential Real estate presents information regarding REALTOR transactions with international clients during the 12-month period of April 2015-March 2016.

Brazilians Are Leading Foreign real estate investments in Miami In 2018, there was a 23% increase in activity from foreign buyers in South Florida, with $1.6 billion more spent on homes. And Miami.

Profile of International Home Buyers in Florida 2015 Report The Research Division of the National Association of REALTORS, in cooperation with the Florida REALTORS, has conducted an annual survey of purchases of existing homes by international clients since 2005. The term international (or foreign) client refers to clients who

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 · Five countries accounted for nearly half of the dollar volume of purchases by foreign buyers: China, Canada, India, Mexico and the United Kingdom. Buyers from China spent the most at $30.4 billion in residential property, a 4 percent drop from last year. Canadians were second at $10.5 billion, a 45 percent drop.

China remained as the top origin of foreign buyers ($31.7B), followed by Canada ($19.0B), the United Kingdom ($9.5B), Mexico ($9.3B), and India ($7.8B). The bulk of buyers from China, India, and Mexico were resident buyers, while most buyers from Canada and the United Kingdom were non-resident buyers.

Miami, Florida locals must compete with foreign and out-of-state home and condo buyers, whose cash offers at asking price tighten housing inventory and drive up real estate prices.

Foreign Buyers of Properties in South Florida Answering your Questions about buying property in South Florida as a non-U.S. Citizen/Foreign National. Answer: Property Taxes are billed Annually in the Month of November and will be estimated at approximately 2% of the amount of the purchase price for your Property.

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