The Real Deal Miami

Colombian peso helping Miami

April 01, 2011 11:19AM

The Colombian peso has improved by nearly one-third against the U.S.
dollar, a trend that has led to Colombian investment in Miami real
estate. The level of comfort and interest in Miami is such that
Colombians joke that Miami is the prettiest city in Colombia, according
to Jenny Huertas, director of international sales for Condo Vultures
Realty. “As the South Florida real estate market works to turn itself
around, the Colombian investors with their stronger pesos have played an
integral part in the changing climate.” According to a recent Miami
Association of Realtors survey, Colombians represent seven percent of
foreign investors operating in South Florida. TRD