A wave of interest from two Asian countries dominated Miami’s real estate search rankings in September
A wave of interest from China and Singapore dominated Miami’s real estate search rankings in September, with both countries leading global web traffic for South Florida properties, according to the latest MIAMI Association of REALTORS data.
Shenzhen, China’s electronics powerhouse, topped the list of cities searching for Miami homes, closely followed by Singapore, reflecting a broader trend of Asian capital seeking United States real estate exposure.
“Asia continues to be an emerging market for South Florida real estate with our clean air, ideal weather and growth as a FinTech destination being major attractions,” MIAMI chairman of the board Eddie Blanco said.
Policy shifts and global appetite
He pointed to the new $1 million Gold Card program and a temporary injunction on Florida’s SB 264 as key drivers behind the spike in Asian interest.
The Gold Card, signed into effect by President Donald Trump last month, offers US residency for a $1 million investment. This is significantly less than Singapore’s own $8 million investment visa.
While the program could accelerate foreign access to the US market, legal challenges and potential congressional pushback may stall its rollout.
SB 264, Florida’s controversial law restricting property purchases by Chinese nationals and other foreign buyers near military installations, remains in limbo after a court injunction.
The uncertainty has not dampened global appetite: about 150 countries searched MiamiRealtors.com in September, with Colombia, Spain, and India also ranking high.
International buyers reshape South Florida
International buyers accounted for nearly half (49%) of new construction sales in South Florida over the past 18 months, according to MIAMI REALTORS’ first New Construction Global Sales Report.
Argentina led all foreign national purchases in 2024, followed by Colombia, Canada, Brazil, and Mexico.
Florida remains the top US destination for foreign buyers, capturing 20% of all international sales, with Miami-Fort Lauderdale-West Palm Beach alone representing half of Florida’s cross-border transactions.
Miami’s luxury market continues to attract overseas investors, offering more prime space per dollar than global rivals. According to the 2025 Knight Frank Wealth Report, $1 million buys 58 square meters in Miami—nearly four times what it does in Monaco and substantially more than in New York or London.
Meanwhile, UBS has again named Miami the global city most at risk of a real estate bubble, according to its 2025 Global Real Estate Bubble Index. The report noted that Miami's coastal appeal and favorable tax environment continue to attract newcomers from the US West and Northeast, with real estate prices still well below those in New York and Los Angeles.
Implications for brokers and lenders
This influx of international capital can drive up demand and, consequently, prices, especially in luxury and new construction segments. Cross-border deals are often more complex, requiring brokers and lenders to navigate international regulations, anti-money laundering (AML) compliance, and additional due diligence.
Brokers with expertise in international transactions or multilingual capabilities may see a competitive advantage. Mortgage professionals will need to stay abreast of evolving visa programs, like the Gold Card, and state-level restrictions, such as SB 264, which can change buyer eligibility and transaction timelines.
Foreign buyers often pay cash, but as residency programs like the Gold Card make it easier to establish US ties, more international clients may seek US-based mortgages. This could spur demand for specialized loan products, cross-border financing solutions, and partnerships with international banks. Lenders may need to adapt underwriting criteria to accommodate foreign income, credit histories, and documentation.
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