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Foreign Investors Dominate S Fla Home Market


Foreign buyers really love South Florida homes. In fact, they make up half of the state's international buyers of homes this past year.

Specifically, Miami and Fort Lauderdale saw more than half of this year's home sales go to buyers from outside the US. A total of 44,000 homes traded to foreign buyers in the state—about 12% of total home purchasing—or some $23B, according to a Miami Association of Realtors survey reported by The Real Deal.

Miami alone made up 36% of that amount. Where is the money coming from? Brazilians topped the list, followed closely by Chinese and Venezuelans, and finally Western Europeans. [TRD]