International buyers continue fueling Miami’s real estate market, Francisco Angulo, the managing broker at Coldwell Banker’s Coconut Grove office, told the Miami Herald in an interview.
Nearly one out of three international buyers in Florida is buying in Miami and Miami Beach. Nearly two-thirds of these are from Latin America, with the top three countries of origin, Argentina, Brazil and Venezuela, followed by France, Angulo said in the interview.
“If they are moving to Miami, they are looking for public schools, safe neighborhoods, immigration options, and legal advice about taxes, among the top of the list,” Angulo said.
“If they are investors, international buyers are looking for a stable environment to invest their dollars and have an option to have a profit and a potential getaway to escape to Miami for political reasons in their country.”
Shoppers for Miami-area property also include Mexicans, Brits and Asians, Angulo said, with buyers from countries like India, Sweden and the Netherlands, who had not actively showed interest in Miami real estate in previous boom-and-bust cycles, joining traditional investors from South America looking to put in stakes in the Magic City. [Miami Herald] –Emily Schmall