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Miami Association goes to Colombia, continues expanding international network

by James McClister

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The Miami Association of Realtors continues to be an active force in expanding the city’s international appeal, this time presenting at Colombia’s largest property showcase, El Gran Salon, which was hosted in the country’s capital of Bogota.

The expo, which attracted about 30,000 visitors and 200 exhibitors, is one in a series of efforts the association has made this year to help build its network abroad, including presenting at a similar expo in India and partnering with Chinese listing portal Juwai. This time the goal was to entice and educate potential Colombian buyers and investors.

The association was strategic in its decision to present at that particular conference.

“Colombia is a major market for Miami real estate,” said Lynda Fernandez, head of public and international relations for the association, explaining that Miami is home to the largest Colombian population in the country. “Colombians love Miami because it’s multicultural, multilingual, modern and has one of the world’s fastest growing urban cores.”

But more than simply being prevalent to the market in terms of population size and sales (they made up 10 percent of all South Florida property purchases in 2015), Colombian buyers also tend to be upper-middle class families and spend more on homes ($516,000), on average, than every other foreign demographic, apart from Argentinians ($766,000).

The association is likely to continue its campaign to broaden its international appeal in 2017.

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