Homebuyers in foreign countries are interested in Miami real estate, and the Miami Association of Realtors reports that Brazil is currently leading the pack of those looking for second or investment homes.
The association compared the number of foreign visitors to their website between January 2014 and 2015. Topping the list of visitors was Brazil, followed by Columbia. Both of these locations surpassed Venezuela, who went down three spots on the list for their number of website visitors. A new addition also made the list this year with Russia breaking into the top ten.
Foreign Interest in Miami
The number of people looking for property in Miami increased nearly 40% since last January with potential buyers from Europe, South America, and other countries all over the world. One that is gaining attention, even though they were not included on the list, is China. There has been quite a bit of discussion about the interest that Chinese buyers are showing in South Florida, and Dr. Shanjie Li, the businessman behind American Da Tang Realty, is hoping not only to drive China onto the list but up it, as well. See all Miami Downtown properties for sale here: www.sunnyislesmiamirealestate.com/Downtown-Miami/
American Da Tang Realty
Li’s firm is focused on working with the American Da Tang Group, which is a service that is geared towards the Chinese elite, and provides high-end concierge services for those coming to United States. The combined efforts of this team is to assist Chinese buyers with finding and acquiring luxury Miami properties. It is important to note, however, that the firm will also assist non-Chinese buyers as well.
Reasons for Growing Foreign Interest
There is no denying that foreign interest in Miami and throughout the South Florida continues to grow, and the reasons for this are rather diverse. They include:
• Affordability – When compared to the luxurious condos and properties in global, world-class cities, Miami is still much more affordable.
• Amenities and Benefits – Miami also provides a wealth of benefits, including the year-round temperatures and a strategic location. Additionally, the opportunity to take part in the exciting lifestyle that the city offers, as well as the multicultural environment that already exists in the area are also major draws.
• Currency Value – Another major factor behind the interest in Miami, and one that goes with the affordability factor, is the value of the currency in foreign countries. Buyers can invest in properties in the US and preserve and protect their fortunes from the decreasing value of their home currencies. The monies invested are in American dollars, which means there is little threat of significant losses, which can be a big problem in other countries.
There have already been numerous foreign buyers in the city over the past few years, and many of them pay cash for their new properties. This trend is still going strong, with increases in cash sales remaining high. It is also not expected that this will change in the near future, which means Miami’s title as a hot spot will continue to grow.