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International buyers are spending billions of dollars on homes across the United States, and Florida continues to stand out as a major destination for foreign real estate investment.
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Research from the National Association of Realtors found international buyers spent more than $45 billion on U.S. homes, with Florida recording the highest share of foreign-buyer transactions. In Miami, industry leaders say buyers are arriving from markets across Latin America and beyond.
Mayi de la Vega, founder and executive chair of ONE Sotheby’s International Realty, said Colombia and Mexico are among the markets generating significant interest in South Florida real estate.
“I think we’re seeing markets like Colombia now representing about 20% to 25% of the incoming buyers,” de la Vega said. “Mexico has always been a very strong market.”
She also pointed to buyers from Brazil and Argentina.
Dave Martin, president of Swire Properties USA, said his company is also seeing interest from buyers in Mexico, as well as Spain and Turkey.
Why international buyers are choosing South Florida
The draw goes beyond Miami’s warm weather and waterfront properties.
Martin said South Florida’s economy and its growth in industries such as technology and finance are helping make the region attractive to investors.
“I think that South Florida remains attractive because of its economy, because of how it is adding particularly high-value jobs and industries, particularly in tech and finance,” Martin said.
He also pointed to Florida’s tax environment and the flow of domestic investment into the state as additional factors.
For some foreign buyers, U.S. real estate is viewed as a place to put capital into a secure or potentially profitable investment. Cash also continues to play a significant role.
De la Vega said 51% of the international buyers she referenced paid all cash for their properties.
Miami’s luxury market draws global wealth
New developments in areas such as Brickell and Coconut Grove are also increasingly centered around walkability, wellness and lifestyle, features experts say are attractive to buyers looking for more than just a primary residence.
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The trend is particularly visible at the upper end of Miami’s housing market.
The Miami Association of Realtors reported close to 200 home sales of $10 million or more this year, according to the figures cited in the reporting for this story.
Asked whether international buyers account for a large portion of those purchases, de la Vega said, “Absolutely, absolutely.”
But the definition of a “global buyer” in Miami is becoming increasingly complicated.
Some buyers may be U.S. residents or based in Florida while maintaining business, family and financial connections around the world.
“I think a lot of our buyers are very international, so they may be domiciled here in Florida,” Martin said. “But if you looked at their passport, if you looked at their American Airlines account, you would see that they are very mobile, particularly for business but also for leisure.”
That mobility, he said, helps make Miami one of the global destinations where those buyers want to maintain a home.
It’s not just foreign buyers
Miami is also attracting buyers relocating or purchasing second homes from other major U.S. cities.
The combination of domestic migration and international investment comes as Miami’s economy continues to evolve, particularly around technology, finance and artificial intelligence.
For de la Vega and Martin, that broader economic shift may ultimately be more significant than any one group of homebuyers. As companies and capital arrive from elsewhere, they bring workers, investors and new demand for housing with them, reinforcing Miami’s position as an international business and real estate hub.
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