Christopher Lima

# 🌐 **Miami's Global Real Estate Dominance in 2023: A 56-Page Insight into Foreign Buyer Trends**

- 📊 **Foreign Buyer Share Soars:** South Florida's foreign buyer share is now nine times larger than the U.S. figure.
- 🌍 **2023 MIAMI Global Report:** Unveils a comprehensive 56-page analysis of foreign home buyer purchases in South Florida.
- 📈 **Record Growth:** Foreign buyer share reaches 18% in 2023, outpacing the U.S. by nine times and Florida by two times.
- 💼 **Miami's Unrivaled Appeal:** 52 countries contribute to a staggering $5.1 billion in real estate purchases in 2023.
- 🏡 **Transaction Insights:** Foreign homebuyers invest $5.1 billion, down from $6.8 billion in 2022 but matching 2021 levels.
- 🌎 **International Sales Surge:** 2022 witnessed a surge due to pent-up demand post-pandemic border reopenings.
- 🏙️ **Domestic Boom:** Miami experiences a historic surge in domestic buyers, notably from high-taxed locations.
- 🌐 **South Florida's U.S. Share:** Secures about 11% of all U.S. international home sales annually.
- 📊 **Market Dominance:** Foreign homebuyer market share is five times larger than the U.S. figure, accounting for 18% of total dollar volume.
- 🌴 **Miami-Dade Supremacy:** Miami-Dade County claims 72% of South Florida's foreign buyers, generating $3.67 billion in sales in 2023.
- 🌍 **Top Foreign Country - Colombia:** Colombia emerges as the leading foreign country purchasing South Florida real estate in 2023.
- 🌐 **Diverse Market:** South Florida attracts foreign buyers from 52 countries, ensuring resilience in global sales.
- 🇦🇷 **Argentina Dominance:** Argentina holds the top spot for buying properties in Miami-Dade County.
- 🇧🇷 **Brazilian Influence in Broward:** Brazil takes the lead in real estate purchases in Broward County.
- 🇧🇷 **Brazilian Impact in Palm Beach:** Brazil leads real estate purchases in Palm Beach County.
- 💰 **Higher Spending:** MIAMI international home buyers spend a median price of $482,700, 6% more than the national figure.
- 🗽 **New York's Continued Lead:** New York maintains its position as the No. 1 state purchasing in South Florida for the second year.
- 💸 **Cash Transactions:** Approximately 69% of all international residential transactions in South Florida are all-cash.
- 🏢 **Condo Preference:** 56% of South Florida global buyers prefer condominiums, significantly exceeding the U.S. average.
- 🌆 **Preferred Areas:** South Florida global buyers favor central/urban areas (64%).
- 🌐 **International Buyer Visits:** 73% of MIAMI Foreign Buyers visit Florida only 2 times or less before purchasing.
- 🌍 **Global Outreach:** MIAMI, with 260 partner organizations worldwide, expands South Florida's real estate brand globally.