A view of the Brickell skyline from 2009 (Credit: creative commons user MiamiTom) and the flag of Brazil (Credit: Max Hendel)
No surprise here — despite a quick dip in the leaderboards earlier this year, Brazil again had more consumers searching for Miami real estate than any other country in October.
The ranking comes from the Miami Association of Realtors, which comes up with a list of countries searching for properties on the association’s website every month.
For October, more international property searches came from Brazil than anywhere else. Venezuela came in second, followed by Colombia, Argentina and India.
The country was briefly dethroned during July, when its neighbor Colombia claimed the top spot for interest in Miami real estate. Brazil quickly regained its status as No. 1 in October, and has held onto it for 16 out of the last 17 months.
The association said most Brazilians moving to Miami are upper-middle-class families who spend an average of $495,000 per home. That’s a big premium over Florida’s average home sale of $245,000.
Brazilian buyers also accounted for 11 percent of all international home sales in 2014, making it the third biggest demographic of foreign buyers. The first and second spots belong to Venezuela with 16 percent and Argentina with 12 percent, according to the association. — Sean Stewart-Muniz
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