South American buyers taking a pause from Miami real estate

Colombian buyers accounted for 10 percent of all foreign transactions in Miami last year
  • South American buyers are searching the most for South Florida real estate; however, brokers have noticed a slight pause in how actively they are buying.
  • A traditional hot spot for Venezuelan and Argentinian buyers, outside of the city of Miami has been Doral.
  • Buyers from Brazil, Argentina, Venezuela and Colombia accounted for 45 percent of all foreign buys in South Florida last year.

In Miami roughly half of all foreign home buyers are from either Venezuela, Brazil, Argentina or more recently Columbia. According to stats from the Miami Association of Realtors, Colombia topped all foreign countries searching for South Florida real estate via the association’s portal in December 2015.