The report International Homebuyer Transactions December 2023, published by Miami Association of Realtors Based on the negotiations made by its nearly 60,000 members, it reported that between August 2022 and July 2023 housing sales in Miami international buyers reached about US$5.1 billion.

Colombians, with 14.7% of the total (US$542.2 million), were the nationality that invested the most, above Argentines (13.7%, US$4366.8 million).

Also in the top 5 of international home buyers in Miami were Brazilians, with 6.7% of the total, Venezuelans (6.4%) and Canadians (6.2%). Other countries in the top 10 were Mexico (5%), Peru/5%) and Ecuador (5%), and Chile (4%).

The average transaction by these investors was $482,700, according to the Miami Association of Realtors report.

Counties where foreigners buy the most homes in Miami

According to the Miami Association of Realtors, the top counties that were the destination for Miami housing investments by international buyers were:

According to the report, 71% of foreign buyers will use their properties for vacations or rentals, while 56% did so in condominiums and 48% had B1 and B2 visas.

In total, in the period between August 2022 and July 2023, some 6,200 transactions were carried out by members of the Miami Association of Realtors, the lowest level since 2015 and still far from the 15,300 deals that were closed in 2017, the best year since then.

Florida, the favorite destination for your investments

The association’s report also highlighted that for the 15th consecutive year, the state of Florida was the favorite for investments by international buyers across the United States, with 23% of transactions recorded between August 2022 and July 2023.

California and Texas shared second place with 12 percent, followed by North Carolina with 4 percent. New York stands out in the top ten, with 3%.