From the South Florida Market report: Related Group CEO Jorge Perez last year told The Real Deal that Latin America “saved” Miami. He wasn’t kidding.
The transformation of Miami’s residential (and particularly condominium) sector since the darkest days of the downturn has been propelled by Latin American buyers. Brokers across South Florida point to Latin Americans, chiefly Brazilians, paying cash for perceived condo bargains as the single-biggest driver of the market. And they’re also playing a key role in the current wave of new projects springing up across the Sunshine State’s southern tip. [more]