Foreign Investment in South Florida: By the Numbers
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Foreign buyers accounted for 10% of all South Florida residential sales, compared to the national average of 2%.
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International buyers spent $3.1 billion on residential properties in the region, outpacing any other U.S. market.
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South Florida secures 10% of all international home sales in the U.S., with nearly half of Florida’s foreign transactions happening in Miami-Fort Lauderdale-West Palm Beach.
Who’s Buying in Miami?
Miami attracts buyers from 49+ countries, making it one of the most diverse international real estate markets in the world. The top countries investing in South Florida real estate in 2024 include:
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Argentina – 18%
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Colombia – 14%
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Canada – 8%
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Brazil & Mexico – 6% each
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Venezuela – 5%
Together, Argentina and Colombia alone accounted for 32% of all foreign home purchases in South Florida.
Why Miami?
Several factors continue to drive Miami’s strong international demand:
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Strong Cash Purchases: About 66% of foreign buyers in South Florida paid in cash, significantly higher than the U.S. foreign buyer average of 50%.
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Luxury and Investment Appeal: Foreign buyers spend 5% more on Miami real estate than international buyers elsewhere in the U.S.
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A Diverse Buyer Pool: Unlike other U.S. markets that rely on just a few key countries, Miami’s buyer base is diversified, ensuring steady demand.
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Migration from High-Tax U.S. States: Domestic buyers from New York, California, and New Jersey continue to relocate to Miami, adding further pressure to the luxury market.
Foreign Investment Breakdown by County
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Miami-Dade County: 65% of all foreign transactions in South Florida, totaling $2.3 billion in sales
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Broward County: $584 million in foreign real estate purchases
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Palm Beach County: $94 million in international buyer transactions
Miami’s Market Outlook
Despite shifts in the global economy and a strong U.S. dollar, Miami remains a top-tier investment hub for international buyers. As the city continues to attract high-net-worth individuals, business leaders, and luxury investors, the demand for premium real estate is expected to stay strong.
“Miami continues to dominate as the top destination for international real estate buyers, with foreign investors making up 10% of all residential purchases—five times the national average. The demand is driven by Miami’s global appeal, strong investment potential, and unmatched lifestyle. Even with market shifts, international buyers see Miami as a secure and lucrative place to invest, live, and thrive.”
— Marco Tiné, Luxury Property Specialist
