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.
Santa Maria
The infamous condo market of Miami keeps on being a strong magnet for foreign investment, but it’s becoming harder and harder to differentiate investors and residents.
Condo buyers purchasing as their own residence today represent 1/3 of the investors, 1/3 use it for a second home and 1/3 as an investment to rent out. It is a very sought-after alternative in response to a very low rental inventory for the past 2 years. Overall, investors are prevalent in Miami Beach, Downtown and Brickell. Read the rest of this entry »
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