According to a recent report from the Miami Association of Realtors, German citizens demonstrated the greatest interest in Miami real estate in October 2022, as evidenced by the search query statistics.
Germany’s growing interest in Miami properties may result from the havoc wreaked by Hurricane Ian in Southwest Florida and the fact that German buyers, who have long been purchasing real estate in this region, are striving to move their investment to Miami and South Florida in general, thinks Fernando Arencibia Jr., Chair of the Board at the Miami Association of Realtors. The statistics still show an influx of home buyers from various countries who are looking for Miami properties.
In October 2022, Germany accounted for 22.19% of all international search queries related to property purchasing in Miami, as opposed to 1.66% in October 2021. Most searches originated in Berlin. Here is the list of top 10 countries with the greatest number of citizens interested in Miami homes:
- Germany: 22.19%
- Columbia: 8.96%
- Venezuela: 5.49%
- Argentina: 5.06%
- Philippines: 4.60%
- Russia: 3.98%
- United Kingdom: 3.60%
- Canada: 3.53%
- India: 3.19%
- Spain: 2.97%
South Florida remains one of the most attractive locations for real estate buyers from all over the world. The cost of a square meter in Miami – Fort Lauderdale – West Palm Beach area is $3,170, which is far less than in other popular cities, such as Hong Kong ($28,570), New York ($17,191), Madrid ($6,173), and Seattle – Tacoma – Bellevue ($4,460).