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Foreign Buyers Spend 7billion In S Florida 2017
Foreign buyers spent $7.1 billion in S. Fla. last year
MIAMI – Feb. 9, 2018 – Foreign homebuyers spent $900 million more on South Florida homes and purchased more local residential properties in 2017 than they did in 2016, according to the new 2017 MIAMI International Homebuyers Report conducted by the Miami Association of Realtors® (MIAMI) and the National Association of Realtors® (NAR). The sixth-annual survey includes data from Miami-Dade, Broward, Palm Beach and Martin counties. It ranks transactions by countries of origin and highlights key characteristics of foreign buyers.
Survey results for South Florida
“International buyers continue investing in South Florida and Miami because they see the economic potential of America’s youngest major city,” said Miami broker George C. Jalil, the 2018 MIAMI chairman of the board.
Florida is the top U.S. destination for foreign buyers (22 percent of all sales), according to NAR’s 2017 Profile of International Activity in U.S. Residential Real Estate. More than half of all international home sales in Florida (53 percent) occur in Miami-Fort Lauderdale-West Palm Beach, according to the Florida Realtors 2017 Profile of International Residential Real Estate Activity in Florida.
Nationwide, South Florida secures about 11 percent of all U.S. international home sales. Of that 11 percent:
Top countries investing in South Florida
To investor countries by county
Palm Beach County
Additional survey highlights
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