With 10.9% of the total, Colombians were the ones who searched for properties in Miami and South Florida the most in November 2023, according to the report published each month by the Miami Association of Realtors. It is the twenty-first consecutive month that investors of this nationality occupy one of the top two positions, which ratifies their interest in buying and selling apartments in Miami and other cities in this region of the state.

Colombia overtook Germany, which ranked second, although it had led these searches the previous two months, September and October 2023.

“Amid political changes in countries such as Argentina, Brazil, Colombia and Guatemala, an increasing number of investors are turning their attention to the Miami real estate market,” said Inés Hegedus-García, president of the Board of Directors of the Miami Association of Realtors.

The executive added that “Miami’s real estate prices have increased for 12 consecutive years and its stature as the capital of Latin America is only growing,” which ratifies that investing in properties in Miami and South Florida is a wise decision.

Miami Properties: Which Countries Are You Looking For The Most?

The association’s report is that the top 10 nationalities that made the most searches in November 2023 are as follows:

  1. Colombia: 10.9%
  2. Germany: 9.1%
  3. Argentina: 7.3%
  4. United Kingdom: 6.7%
  5. Spain: 5.6%
  6. Canada: 5.5%
  7. Venezuela: 5.3%
  8. India: 5.3%
  9. Mexico: 4.4%
  10. Philippines: 4.2&
  11. Other countries: 37%

Colombians, the foreigners who made the most purchases in 2023

The association’s report also reported that Colombians, with 15% of the total, were the foreign nationality that bought the most properties in Miami and South Florida did in 2023, beating out Argentines (14%), Brazilians (7%), Venezuelans (6%), and Canadians (6%).

The state of Florida remains a favorite for foreign investors interested in the U.S. real estate market. It is the source of 23% of the total purchases made by these people last year, a fact that has been repeated for the last fifteen years.

Half of those investments (47%) are focused on properties in Miami, Fort Lauderdale and West Palm Beach.