The Real Deal Miami

Posts Tagged ‘foreign buyers’

  • Brazilians take the lead for foreign interest in Miami

    Colombia, Russia and Venezuela followed
    March 19, 2015 12:00PM
    Miami's skyline and the Brazilian flag

    Miami’s skyline and the Brazilian flag

    Brazil topped the list of foreign countries searching for Miami real estate in January, according to the Miami Association of Realtors.

    The association compared the number of visits to its website in January of this year to January 2014, and found that Brazilian traffic surpassed Venezuelans, who fell three places from their top spot in the list last year. [more]

  • Treasury Department pushed to scrutinize foreign buyers

    Nonprofits urge agency to repeal real estate industry's exemption from the Patriot Act
    March 12, 2015 03:00PM
    From left: Dimitrios Contominas, the Time Warner Center and Vitaly Malkin

    From left: Greek media mogul Dimitrios Contominas, the Time Warner Center and Russian-Israeli oligarch Vitaly Malkin

    From the New York website: Seventeen nonprofits are urging the U.S. Treasury Department to require more scrutiny of foreign buyers of real estate by verifying their identities and screening them for the potential risk of money laundering. [more]

  • Brokers still targeting foreign investors

    Professionals talked international strategy at Miami Real Estate Congress
    November 04, 2014 02:15PM
    The Miami International Real Estate Congress

    The Miami International Real Estate Congress

    Yesterday, about 300 brokers gathered at the Miami International Real Estate Congress at the Biltmore Hotel in Coral Gables to talk shop. And with international deals accounting for roughly 29 percent of all transactions in Miami-Dade and Broward counties in the past year, the foreign buyer was the topic of the hour. [more]

  • New Yorkers snap up Miami sites as Russian investors exit

    Panelists at The Real Deal’s Annual Real Estate Showcase also expect Chinese investors to start buying big
    October 23, 2014 04:40PM
    From left: Craig Studnicky, Alicia Cervera, Nelson Gonzalez and Jay Parker

    From left: Craig Studnicky, Alicia Cervera, Nelson Gonzalez and Jay Parker

    While Russian buyers are fleeing Sunny Isles Beach, investors from New York and Los Angeles are flocking to Miami to buy luxury homes, according to a group of brokers who participated in a panel discussion during The Real Deal’s Annual Real Estate Forum and Showcase in the Design District’s Moore Building. [more]

  • Miami makes Christie’s Top 10 luxury residential markets

    But from an international perspective, Miami remains affordable
    September 02, 2014 03:00PM
    Miami's skyline

    Miami’s skyline

    For the second year in a row, Christie’s International Real Estate has included Miami on its Top 10 list of global luxury residential markets. [more]

  • Latin investors turning to office condos

    Foreign investment is increasingly bolstering South Florida’s office market
    August 26, 2014 03:45PM
    Camilo Lopez

    Camilo Lopez

    Latin American buyers have long buoyed South Florida’s residential market. But now Latin American investors are reinvigorating South Florida’s office market.

    Last week Solution Group announced Ofizzina 1200, a 97,000-square-foot office project at 1200 Ponce de Leon Boulevard in Coral Gables. The 16-story Mediterranean-style building will feature 47 office suites. [more]

  • Expo helps Puerto Ricans get their footing in Florida

    More than 7,000 attended the event aimed at "educating people about the reality of moving"
    March 24, 2014 03:00PM

    florida-expo-2014-24Puerto Rico is currently experiencing a recession and an unemployment rate of 15.2 percent. And hard times are driving many Puerto Ricans to move to Florida.

    More than 7,000 Puerto Ricans attended the Florida Expo, according to the South Florida Business Journal. The event, which took place in Puerto Rico, is designed to help educate those hoping to relocate to Florida find jobs and houses. [more]

  • IRS slows down foreign investors’ ability to buy real estate

    International purchasers waiting six to 10 weeks for approval
    March 19, 2014 03:45PM

    urlThe Internal Revenue Service is taking a more conservative approach to issuing tax identification numbers to foreign real estate investors, a decision that threatens to slow down the growth seen in South Florida’s luxury market.

    The IRS is responding to an increase in the number of fraudulent tax returns and identity theft. [more]

  • The Canadian and French flags

    The Canadian and French flags

    First, it was the Brazilians and the Venezuelans. Now, it’s the French and Canadians who are snapping up South Florida’s real estate. The French took the top spot as the biggest buyers of property this spring, according to Lanham and Associates, citing a report from the Miami Association of Realtors. [more]

  • Foreign buyers help push SF home prices up 14%

    Over 20K new condos proposed in the next few years
    August 16, 2013 04:00PM
    Continuum on South Beach

    Continuum on South Beach

    Foreign buyers are supercharging South Florida’s housing recovery, Bloomberg News reported.

    In the 10 Florida counties that have seen the largest injection of international money since 2010, property-tax assessments have risen by an average of 4.1 percent – nearly twice as fast as the rest of the state — this year, according to state records reviewed by Bloomberg News. [more]