South Florida by the numbers: Brazil is back

Miami /
Apr.April 29, 2019 10:30 AM
A map of Brazil (Credit: iStock)

A map of Brazil (Credit: iStock)

“South Florida by the numbers” is a web feature that catalogs the most notable, quirky and surprising real estate statistics.

Parabens! After years of political and economic chaos, Brazil has made a splashy return to Miami’s real estate radar in recent months. At one time a primary driver of Miami’s boom cycle, South America’s largest country fell into a deep recession in 2015 which, coupled with a strong U.S. dollar, severely hampered the stream of Brazilian buyers in Miami. But the election of a new president has coincided with a cautious optimism that appears to be reflected in local investment on macro and micro levels. Let’s explore Brazil’s new impact on Miami real estate in this month’s “South Florida by the numbers”.

No. 1: For the first time, Brazil’s ranking among countries buying South Florida homes in 2018, according to the Miami Association of Realtors. Brazilians made 12 percent of all foreign purchases of homes in the tri-county region last year, with Colombia and Venezuela tied for the second spot with 11 percent. [TheRealDeal]

$31 million: Price of a penthouse at 57 Ocean, which recently broke ground. The Miami Beach condo tower is being developed by Multiplan Real Estate Asset Management, which was founded by Brazilian billionaire José Isaac Peres. Prices at 57 Ocean start at $1.5 million, and completion is scheduled for September 2021. [TheNextMiami]

$2,412: Per-square-foot price of a St. Regis Bal Harbour penthouse purchased by Brazilian music and entertainment mogul Jorge Sirena Pereira. Master Brokers Forum member Roberta Ingletto, who sold the unit, said the deal set a new price-per-square-foot record in the luxury condo complex, up 18 percent from the previous record of $2,053 per-square-foot. [TheRealDeal]

800,000: Total estimated number of passengers flying to Miami International Airport from Brazil in 2018, an increase of about 50,000 (or 6 percent) from 2017, according to information provided to the Greater Miami Convention & Visitors Bureau by Miami-Dade Aviation. The increase in Brazilian tourism and spending in Miami comes at least in part from an increased number of direct flights from Brazil to Miami via American Airlines, LATAM Airlines and Avianca Airlines, according to GMCVB Chief Operating Officer Rolando Aedo. [MiamiToday]

$12 billion: Estimated value of cargo shipped from Miami to Brazil each year, making it MIA’s largest international market for passengers and cargo flights. Miami-Dade County and Brazilian post office Correios recently announced a new shipping service that will slash the time it takes for e-commerce packages to travel from MIA to Brazil from weeks or months to days. [SFBJ]

This column is produced by the Master Brokers Forum, a network of South Florida’s elite real estate professionals where membership is by invitation only and based on outstanding production, as well as ethical and professional behavior.


Related Articles

arrow_forward_ios
Hassan Whiteside and 528 Lakeview Court in Miami Beach (Getty, Joe Azar/Compass)
NBA’s Hassan Whiteside lists Miami home for $23M, triple what he paid for it
NBA’s Hassan Whiteside lists Miami home for $23M, triple what he paid for it
South Florida by the numbers: Record rents go through the roof (part 2)
South Florida by the numbers: Record rents go through the roof (part 2)
South Florida by the numbers: Record rents go through the roof (part 2)
(ONE Sotheby's Realty)
Former mayor George “Bud” Scholl’s waterfront home hits market for $13.9M
Former mayor George “Bud” Scholl’s waterfront home hits market for $13.9M
Home prices notched record-shattering growth in 2021, but slowdown is likely
Home prices notched record-shattering growth in 2021, but slowdown is likely
Home prices notched record-shattering growth in 2021, but slowdown is likely
6315 11th Ave Gulfport (iStock, Heckler Realty Group, Illustration by Shea Monahan for the Real Deal)
Tampa-area home billed as first in US to be sold as an NFT
Tampa-area home billed as first in US to be sold as an NFT
(iStock)
South Florida by the numbers: What a year for residential real estate
South Florida by the numbers: What a year for residential real estate
From left: 1840 South Ocean Boulevard, 1341 South Ocean Boulevard and 2000 South Ocean Boulevard
These were South Florida’s largest resi sales of 2021
These were South Florida’s largest resi sales of 2021
Miami-Dade County slapped with ethics complaint over approval of 550-home Calusa project
Miami-Dade County slapped with ethics complaint over approval of 550-home Calusa project
Miami-Dade County slapped with ethics complaint over approval of 550-home Calusa project
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...