Waterfront apartment towers on the Miami skyline

Buying a home in
Miami

Q: Why are there so many condos for sale in Miami?

Supply has outrun demand. In August 2026 Miami-Dade had 12.1 months of condo inventory and Broward 9.9, while houses stood at 4 to 5 months. Florida's post-Surfside rules have raised costs in older buildings through mandatory inspections and reserves, and many lenders will not finance buildings that fall short. For a buyer this means negotiating room, and a need to examine the building as carefully as the flat.

Q: Can I get a mortgage on a Miami condo?

It depends on the building as much as on you. Lenders review the condominium project: its reserves, any structural repairs outstanding, special assessments, and how many units are rented or owned by one investor. Under Fannie Mae's rules a building needing critical repairs, or one run like a hotel, is not eligible for standard loans. Only 21 of 2,397 South Florida condo buildings are approved for FHA loans. Ask your lender to check the building before you make an offer.

Q: How do deposits on a pre-construction condo work?

Florida law requires the developer to put deposits of up to 10% of the price into escrow. Deposits above 10% go into a separate escrow account, and if your contract allows it the developer may use that money for construction costs once building has started. Deposits are typically paid in stages over the construction period. Read what the contract says about the use of your deposits and about delays, and have a Florida attorney review it.

Q: Can I let a Miami flat on Airbnb?

Only in the right zone and the right building. The City of Miami does not allow short-term rental in single-family homes and duplexes in its T3 and T4-R residential zones. Miami Beach prohibits it in all single-family homes and in many apartment buildings, and publishes a list of buildings where it is allowed. Condo associations set their own minimum lease periods. Fort Lauderdale requires city registration and an inspection. Check the address and the building's rules first.

Q: Where do Europeans buy in South Florida?

South Florida's foreign buyers are mostly Latin American: Colombia and Argentina lead. In the MIAMI Realtors report for the year to July 2025, Italy accounted for 3% of international buyers, France 2% and the United Kingdom 1.4%. According to Florida Realtors, Europeans made up 14% of international purchases in the wider Miami metro area, and 21% of British buyers in Florida chose it.

Miami is the number one US market for foreign buyers: nearly half of all homes sold to international buyers in Florida are in the Miami, Fort Lauderdale and Palm Beach area. It is also a market of condominium towers, where the building you choose decides whether a lender will finance you at all.

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Everything about buying in Miami and South Florida

Short answers on this page. The full guide has the detail, the figures and the sources.

The purchase and the loan

How a purchase runs here and which loans fit.

The building decides the loan
Buying off-plan
Financing as a European

Prices, taxes and insurance

What homes cost and what you pay on top.

Two markets: houses and condos

Letting and living

Rental rules, local life and how to get there.

Letting, tax and insurance

Read the full guide

The largest foreign-buyer market in the country

In the year to July 2025, international buyers bought about 5,300 homes worth $4.4 billion in the area covered by the MIAMI Association of Realtors, 15% of its sales against 2% across the United States. The region took 45% of all Florida's foreign purchases. Most of that money went to Miami-Dade, with Broward (Fort Lauderdale) second and Palm Beach a distant third.

It helps to know who you are buying alongside. Buyers from Colombia, Argentina, Brazil and Mexico dominate. Europeans are a minority here, around one in seven international purchases in the metro area, with Italians, Spaniards, French and British the most visible. Half of foreign buyers pay cash, half buy a condominium, and seven in ten buy for holidays, rental or both.

Peach-coloured house with balcony behind palm trees on a brick street in Hollywood, Florida

South Florida at a glance

Figures last checked: 3 October 2026

This is not a lending decision: a US specialist confirms what applies to your own situation.

House prices	Median single-family home, August 2026: Miami-Dade $680,000, Broward $650,000, Palm Beach $650,000 (MIAMI Realtors).
Condo prices	Median condo: Miami-Dade $408,000, Broward $257,500, Palm Beach $300,000.
Condo supply	12.1 months of unsold condos in Miami-Dade and 9.9 in Broward, against 4 to 5 months for houses.
Foreign buyers	15% of sales in the MIAMI Realtors area, against 2% nationally. Half pay cash and half buy condos.
Loan limit 2026	$832,750 for a one-unit home in all three counties.
Tax on short stays	13% in Miami-Dade and Broward, 14% in Miami Beach, 12.5% in Palm Beach County.
Flights home	Miami International has nonstop flights to 17 destinations in Europe, Africa and the Middle East.

Waterfront villa with red tile roof, palm trees and a seawall on a Fort Lauderdale canal

Colourful lifeguard tower on a quiet beach at sunrise in Fort Lauderdale, Florida

Narrow white Art Deco walkway lined with palm trees in Miami, Florida

Sailboats anchored in a Miami bay beside a palm-lined causeway under a clear blue sky

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Before you make an offer in South Florida

Decide between a house and a condominium knowing how differently they are financed.
For a condo, get the inspection, recertification and reserve documents to your lender first.
Ask about pending special assessments and the monthly fee trend.
For pre-construction, have an attorney review the deposit and delay clauses.
Check short-term rental rules for the address and the building.
Get insurance quotes for home, wind and flood.
Ask for a property tax estimate at your purchase price without homestead.
Confirm whether your loan is conforming, jumbo or a foreign national loan.

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Questions people moving from Europe ask

Why are there so many condos for sale in Miami?

Can I get a mortgage on a Miami condo?

How do deposits on a pre-construction condo work?

Can I let a Miami flat on Airbnb?

Where do Europeans buy in South Florida?

Continue your research

Sources (19)

Figures and rules on this page were checked against these sources on 3 October 2026. Rates, prices and local rules change, so confirm anything you rely on before you commit.

Buying a home inMiami