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.
Miami is synonymous with luxury. Over the past few years, we have seen the boom in luxurious condo constructions such as the Armani Residences, The Ritz-Carlton Sunny Isles, and The Aston Martin Residences. Let’s have a look at some numbers to feel the current market trend.
The trends we can see are that the condos take longer to sell and the sales volume have dropped. It took 54 days longer for a condo to be sold in 2017 than in 2016 in the South of Fifth neighborhood. The days needed to sell a unit in other neighborhoods such as Brickell and Fisher Island have also increased by more than 30%. Read the rest of this entry »
From telephones to televisions and computers to cars, you’d be hard-pressed to find an aspect of our lives that hasn’t been affected by the internet revolution. And for those hopping in to the world of real estate, you’ll see that this industry has been significantly influenced by the interconnectivity of the world wide web. Read the rest of this entry »
Miami Real Estate Blog 