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.
Auberge
Even though prices keep on increasing in Miami, cash is still number one. Almost $1 billion of sales has been registered in March 2016 for residential units of single-family homes in Miami Dade. The median price went up by 7.7% as compared to the price for condominiums that dropped by 2.6%. Despite 5 years of record sales, Miami keeps on registering sales in the range of high price points.
Knowing that 50% of all transactions in Miami-Dade County are cash, it shows that home buyers are still very much invested in Miami real estate market. Read the rest of this entry »
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