New research by the Miami Association of Realtors finds that Miami remains a top real estate draw for homebuyers from around the world.

The overwhelming presence of international homebuyers in the Miami real estate market was one of the top stories of 2012, and new research by the Miami Association of Realtors (MAR) finds little signs of that slowing down in 2013.

According to MAR’s research, Miami remains a top draw for international buyers, with consumers in South America showing particularly keen interest in the Magic City’s housing market.

International Homebuyers in Miami

The main findings in MAR’s study included:

• Aside from the U.S., the country’s with the most active consumers in Miami’s market include: Brazil; Colombia; Canada; Venezuela; Argentina; France; Spain; Peru and the U.K.
• In addition, Miami is among the five most popular U.S. cities for foreign homebuyers from the following countries: Germany; India; France; the Netherlands; Italy; Brazil; the Russian Federation; Spain; Switzerland; Sweden; and New Zealand.
• And finally, Miami generated the fourth-most searches from international consumers among all U.S. cities; only Detroit, Los Angeles and Chicago saw more international interest.

The Shifting Foreign Landscape

Though Miami’s international attention is nothing new, the landscape of foreign homebuyers has shifted considerably, explained MAR Chairman Natascha Tello.

“As the top area in the nation for international buying activity, Miami has long attracted international buyers and investors,” Tello said. “But now we are seeing increasing interest from emerging markets such as Mexico, the U.K. and Asia. These property search results confirm that Miami real estate is increasingly attracting worldwide attention.”

And Fernando I. Martinez, MAR’s residential president, said new countries in Europe and Asia are getting in on the action.

“These national rankings confirm Miami’s status as a global city and focal point for buyers and investors from markets worldwide, including some that previously were not as interested in local properties,” Martinez said. “Buyers from countries such as India, Germany, Sweden, and the Netherlands were not actively seeking to invest in Miami, but clearly this trend has changed significantly in the current market.”