Foreign buyers have been the #1 buyers of South Florida real estate for more than a decade. However, for the past few years, there was a tremendous decrease in Latin American buyer’s activity due to inflation and unstable local governments. However, according to the Profile of International Home Buyers Report of 2018, there was a rose of 23% of foreign purchase activity in 2018 compared to 2017. Out of those foreign buyers, Brazilians are in the top of the list.
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Miami is well known for its attractive real estate market and the Chinese has taken note of this. As of last year, the Chinese makes up the third largest group of buyer in Miami and the second in the U.S. There are several reasons why this is a growing trend. Read the rest of this entry »