We already talked about how influent are the Latin Americans investors in the Miami real estate market. Let me remind you that they represent 35% of the buyers in Florida. We can say without doubt that they succeed to keep the market alive and to absorb the inventory.
Let’s try to understand where their powerful buying power is coming from. The first explanation is that their strong currency pushes them to invest abroad. In addition, the Floridian market is still less expensive than European or Latin American markets. In these regions good areas are in excessive demand meaning that the prices are increasing. That’s how, in 2011, the price per sqft for a waterfront property in Brazil was reaching $2-3 K when in Miami, in the Murano Grande for example, it was only $1K/sqft. Read the rest of this entry »
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