The National Association of Realtors recently reported that Colombians led all foreigners in online searches for Florida real estate in December 2015, ending a Brazilian streak atop the online search engine’s rankings.
Colombians have long shown interest in Florida property. The country has consistently ranked among the top 10 in prospective foreign buyers and has ranked No. 1 three times (April and May 2014, July 2015). Colombians also spend the second-most on South Florida real estate, tying with Argentineans’ and trailing only Brazilians.
The shift in rankings and decrease in Brazilian interest in Miami property can be attributed to a troubled Brazilian economy and the strengthening of the U.S. dollar. They’re facing political challenges. For Brazilians, it’s 53 percent more expensive to buy from a year ago.
There’s also been a noticeable decrease in foreign buyers overall. Experts have seen pretty much across the board a 25-percent decrease from various countries in South America. Not a huge number, but hundreds less.
Rounding out the top five for December were prospective buyers from Brazil, Venezuela, Argentina and the Philippines, the country’s highest-ever ranking on the list.
If you are a foreign investor looking to invest in Florida lots and properties for sale, contact a member of the Asset Quest team.