A hotbed for international real estate investors, the South Florida Real Estate market has seen unprecedented demand prompting developers to build on every last parcel available on the oceanfront and in popular areas such as Miami Beach, Bal Harbour and Sunny Isles Beach. Although Miami’s alluring beaches and luxury lifestyle continue to attract many buyers from Europe, Asia and South America, wealthy Brazilians, have set their sights and cash on South Florida Real Estate as the safest place to invest. The depressed economy in many Latin American countries, such as Brazil, has made a major impact on Miami Real Estate growth and development in the last few years. Latin American buyers continue to fuel the economy with their cash buying power investing in ultra-luxury condominium towers throughout Greater Miami and the Beaches.
In Miami, rising luxury towers, growing skylines and high prices have become the norm for the emerging city as demand swells for inventory along the coastlines in highly sought areas. According to the Miami Association of Realtors, after spending $6.1 Billion on South Florida real estate last year, wealthy international investors are still pumping more cash into the market as they flee the crisis in their home countries. In countries such as Argentina, Colombia, Venezuela and Brazil wealthy buyers see luxury high rises in Miami as an appreciating asset and investment security and are not opposed to securing their money in high-end real estate.
Analysts report that Brazil continues to top all foreign countries searching online for South Florida Real Estate according to stats from the Miami Association of Realtors. The surge in interested Brazilian investors who most often are cash-buyers will benefit the Miami market for years to come, a market that is currently setting record breaking sales in top residences and development trends across South Florida. What this could mean for buyers entering the market for luxury real estate is heavy competition and higher prices for trophy properties in coastal communities where lack of oceanfront land to develop is already creating a tight squeeze on available inventory.
While the news of wealthy Brazilians, and Latin Americans snapping up Miami real estate is advantageous to South Florida’s economy and real estate market, many real estate developers catering to International buyers and investors such as BRG International, headed by broker Matias Alem, will benefit from having of properties readily available for the demand from cash buyers and wealthy investors. BRG International recently introduced Mansions37 at the Mansions at Acqualina in Sunny Isles Beach, an exclusive and premier oceanfront residential destination that is highly sought by International buyers. Oceana Bal Harbour, the 28-story oceanfront luxury tower, also represented by BRG International is slated to be completed this year and will offer buyers full access to exceptional design and architecture plus one-of-a-kind resort amenities and services. Brazilians and interested International Buyers will still have plenty of options when it comes to securing their cash and wealth in the Miami Real Estate market.