A seismic shift in foreign buyers?

From the April issue: On Dec. 1, 2015, Argentine journalist Jorge Lanata and his wife Sara Elizabeth Stewart Brown bought a three-bedroom, three-bathroom unit at Asia, on Brickell Bay Boulevard, for $2.6 million.

Two weeks later, Estanislao Garavilla, the chief executive officer of Spain’s largest canned tuna company, Grupo Conservas Garavilla, paid $1.9 million for a three-bedroom unit on the fifth floor of a Key Biscayne condo building at 548 Fernwood Road. And in early February, Brazilian Internet entrepreneur Guilherme Barthel and his wife Tania picked up a 10th floor unit with three bedrooms and three bathrooms at the Jade Beach condominium at 17001 Collins Avenue for $1.9 million.

But Lanata, Garavilla and Barthel appear to be part of a dwindling demographic in South Florida that over the past year has forced some developers and other real estate professionals to seek new buyers from elsewhere. [more]