Global buyers accounted for over 50% of new construction home sales in South Florida over the past 22 months as international buyers increasingly choose to call the market home, according to new data from MIAMI REALTORS®.

Buyers from 73 countries accounted for 52% of new construction sales during the past 22 months. Latin American buyers represented the largest share at 86%. Colombia, Mexico and Brazil were the most common countries of origin for these buyers.

In some sub-markets, the vast majority of international buyers originated from Latin American countries as well, including Miami Beach (75%), Brickell (77%), Coral Gables (82%) and West Palm Beach (96%).

Experts attribute this trend to Miami’s unique luxury-focused market and the relative stability offered in the U.S.

“Global buyers are looking for security in investment because they lack that security in their countries,” Fortune Christie’s International Real Estate Vice President of Sales and Operations Daniel Guerra said at a MIAMI Global Real Estate Congress panel conversation. “The opportunity to have a revenue stream, to have appreciation, to be able to have a place where they can relocate their businesses.”

“Miami offers world-class amenities at a global discount,” added MIAMI Chairman Eddie Blanco. “Seventy-three countries buy Miami new construction, and it’s because we are the most diversified and the most welcoming city in the world. The American dream is alive, and Miami is the gateway.”