Foreign buyers are getting all the best Miami deals
Thursday, July 7th, 2011According to Blog.Miamire.com “Miami continues to remain a top destination for foreign buyer as international purchases surged by $16 billion this year, one of the highest increases in recent years. This is according to the National Association of REALTORS®’ 2011 Profile of International Home Buying Activity. According to the survey, total residential international sales in the U.S. for the past year ending March 2011 equaled $82 billion, up from $66 billion in 2010. Total international sales were split evenly between non-resident foreigners and recent immigrants, while combined total domestic and international existing-home sales in the U.S. were $1.07 trillion. Recent international buyers came from 70 different countries, up from 53 countries in 2010. For the fourth consecutive year, Canada was the top country of origin, with 23 percent of sales to foreigners. China was the second most popular country of origin, with nine percent of international sales this year. Tied for third were Mexico, the U.K., and India. Argentina and Brazil combined reported an increase in foreign sales with five percent, up from two percent in 2010. The top five countries of origin accounted for 53 percent of international transactions in 2011. Florida and Miami is most popular among South Americans, Europeans and Canadians. The National Association of REALTORS®, “The Voice for Real Estate,” is America’s largest trade association, representing 1.1 million members involved in all aspects of the residential and commercial real estate industries.” Miami Beach Real Estate is becoming more hotter every day, Sunny Isles Beach Real Estate, South Beach Real Estate. The new star of Miami Beach is St Regis Condominium rising on the beach on the Atlantic Ocean in Bal Harbour Real Estate. “Two consecutive months of month-over-month growth and continued relative strength in the non-distressed market segment are positive seasonal signs in the housing market. Slowly declining shadow inventory and stabilized negative equity levels are also positive signs. Nonetheless, the fragile economic recovery is still critical to the long-term recovery in the housing market,” says Mark Fleming, chief economist.





























