By Katherine Kallergis
Source: The Real Deal
Brazil was the top country searching for Miami real estate in February, marking another sign that Brazilian buyers might be back in South Florida.
Brazil led the Miami Association of Realtors’ ranking of foreign countries using Miamire.com to browse for Miami homes in February, following months led by Canada, Russia, Venezuela and Colombia.
It could mark a homecoming for Brazilian investors, who led the association’s ranking for 13 consecutive months from June 2014 to June 2015. In 2016, home buyers from Brazil were the third largest international group with 10 percent of all foreign deals in South Florida. Just last week, a Brazilian buyer paid $6.25 million for a waterfront home in Golden Beach.
Earlier this year, Bloomberg reported that Brazilians are now picking up investment properties in South Florida instead of second homes.