It is not breaking news anymore: we all know that Latin Americans are widely investing in Miami. We already figured that they have a powerful buying power coming from a strong currency. Moreover the real estate market in Miami is cheaper than the luxury market in Latin America.
Another less glamorous reason is that they are also investing in real estate in Miami because they running away from criminality. Indeed, I think that I am not mistaken when I say that Miami benefits from Latin America’s rising crime. Latin America is experiencing an amazing economic growth but the political instability and violent crime waves are burdening these countries. No wonder why the wealthiest South Americans like Venezuelans, Brazilians and Mexicans are buying condos in Miami. When we know that a city like Caracas is reported as one of the most violent cities, I totally understand why Venezuelans investors would choose to invest abroad.
For sure the economy is doing great in these countries and that’s why these investors can buy amazing condos in Miami but the criminality rate is so high that it makes more sense for them to invest in a safe haven like Miami. I hope that the political instability is going to change in Latin America but in the meantime we are happy to welcome Latin American real estate buyers in Miami.