China and Singapore ranked first and second for the most global web searches of South Florida real estate in September, according to a new report by the Miami Association of Realtors.
Among the top global cities searching for Miami-area real estate, Singapore, which is both an island country and city-state, ranked first while the Chinese electronics manufacturing hub of Shenzen ranked second. Part of this renewed interest from Asia could be tied to the Gold Card initiative signed by President Trump last month in an executive order that will grant US residency for $1 million – China is expected to be among the top countries for applications while the new initiative is cheaper than Singapore’s investment visa program, which costs nearly $8 million.
The renewed Chinese interest also comes after the passage of Florida Senate Bill 264 (SB 264), which banned Chinese nationals without permanent US residency from buying property or land in Florida. But enforcement of that law was halted amid ongoing legal challenges.
The other top 10 countries searching MiamiRealtors.com in September were Colombia, Spain, India, Philippines, Canada, Argentina, Venezuela, and Ireland.
“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,” said Eddie Blanco, chairman of the realtors’ group.
Wake up America, we are under attack. If it’s not local governments and school boards, it’s farm land, and prime real estate. Democracy is great but it assumes the rest of the world plays by the same rules. Unfortunately, that’s not true. We have to play defense.