The Real Deal Miami

Venezuelans increase Miami real estate searches

Nation's visits to realtor association website surge
December 18, 2013 09:45AM

Caracas, Venezuela, near Avila National Park

Caracas, Venezuela, near Avila National Park

Always an active buyer of South Florida real estate, Venezuelans are even more interested in the region’s residential offerings these days.

The Miami Association of Realtors reported more visits to its website from Venezuela than any other foreign nation in October, South Florida Business Journal reported. More than 120,000 visits came from Venezuelans, an increase of nearly 29 percent from October 2012. The next most active countries were Argentina and Canada.

With Venezuela President Nicolas Maduro restricting retail businesses and imposing stringent currency controls in the midst of heavy inflation, Venezuelans are eagerly moving their money from their home country to South Florida through real estate purchases. [South Florida Business Journal]Eric Kalis