Brazilian used to be the number one group of buyers from America Latina in Miami. Indeed the flourishing Brazilian economy is stimulating the purchase power of Brazilian investors thanks to tax breaks and low interest rates.
However, lately Venezuelans surpassed Brazilians. A great indicator of this trend is the furniture market. They are reporting an incredible increase of Venezuelan purchases. And who buys furniture without buying a condo ?
What I would like to know is why this Venezuelan condo surge?
It’s sad to say so but it seems that political instability is at the origin of that capital flow.
Undeniably, Venezuelans are afraid of the future of their country. In fact, it all started after Hugo Chavez reelection. Miami realtors started receiving calls from Venezuelans on the next day.
Venezuelans investors are already representing 16% of the foreign buyers in the Real Estate Market and this data is expected to rise more and more.
So, even if we can’t help them with their politics, we sure can help them in finding great investments in Miami in great building like The Icon