Top Foreign Real Estate Buyers in Miami are Brazilians

Top Foreign Real Estate Buyers in Miami are Brazilians

Sep 30, 2013 September 30, 2013

Miami is not just a popular tourist destination but a profitable real estate investment option as well. A huge number of foreign buyers flock to Miami to buy property every year. Miami is loved due to its tropical weather, scenic beaches, easy lifestyle and shopping opportunities.

In 2012, foreign buyers from Brazil overtook those from Canada in the acquisition of property in the Miami real estate market. Most Brazilian buyers preferred to buy condominiums, primarily to be used as vacation homes in the scenic Miami. Wealthy buyers from Brazil are looking towards Miami for property investment purposes and second homes. The housing boom led by buyers from Brazil is also predicted to create a domino effect for commercial properties and general business opportunities like restaurants and shopping centers.

Brazilians have been among the top buyers previously also in the real estate sector in Miami. They have been credited for shaping the new condo boom here and rightfully so. In addition, Brazil’s economic upheavals at home are urging buyers to look at Miami real estate for easy property investment.

Many residential condo projects that are underway are specifically targeting Brazilians and other foreign buyers. One of the major reasons for buyers flocking to Miami from Brazil is that the prices of homes in Sao Paulo or Rio are approximately three times more expensive than similar or even better properties in Miami.

Miami’s growing reputation and popularity as an international travel destination has given it a cosmopolitan flavour and that is also attractive to many buyers from Brazil. Increasing global spotlight has been driving the sales and more than average performance of its real estate sector.

Brazil is one of the main countries from where most of the buyers and prospective buyers originate. For buyers from Brazil, Miami real estate is a real bargain much more than a simple property investment.

A majority of buyers buy the units for personal use and are thus putting emphasis on having the units completed and furnished at the earliest possible. A curious trend is that if a couple of Brazilian buyers buy condos in one development, it is bound to attract a few more definitely to buy in the same building. The huge percentage of Portuguese-speaking population in Miami makes most Brazilians feel at home and enhance their comfort levels here.

Also Brazilians can afford to and prefer to make their payments in cash which is perfect for Miami sellers and makes it mutually beneficial for everyone involved.

Miami is a safe place for most wealthy Brazilians to enjoy the luxurious lifestyle and flaunt their wealth. Back home, due to security reasons there are restrictions on lifestyle even if someone has the wealth to afford a luxury life. However in the safe ambience of Miami any one can experience a free life and no security concerns. The infrastructure and social life in Miami is much better than Brazil.

So long the state of affairs has been beneficial for both economies and is a fruitful love affair. Miami’s weather, proximity to Brazil and the Latin feel of the place will definitely attract more buyers from Brazil in the future too.

 

 

Contact Us
Sep Niakan
Broker / Team Lead
(305) 697-7667
sep@blackbookproperties.com
Request Info
By sending you agree to CondoBlackBook's Terms of Use

Your Miami Condo Awaits

Recent Posts

New Emotional Support Animal (ESA) Law Florida: Complete Condo Guide
Opinions and Advice New Emotional Support Animal (ESA) Law Florida: Complete Condo Guide
Finding and moving to a new home can be a strenuous experience, even when you like the change you’re making. This is more so when you have an emotional condition or disability and part of your treatment involves having an Emotional Support Animal (ESA). In this case, finding a new home comes with a whole new set of challenges only you and your furry friend can know. And no one needs the added fear and stress of possibly being denied housing or being discriminated against for owning an ESA. Thankfully, a new Florida law on emotional support animals that went into effect July 1, 2020, explicitly states what you and your current/prospective landlord or HOA can and cannot do regarding Emotional Service Animals. The law applies to all condos, apartments, and rental homes. Photo courtesy of Oleg Ivanov Here’s how the 2020 Florida ESA law empowers both sides:  — ESA Rules: What a Florida Landlord Can & Cannot Do A Florida landlord cannot deny housing for a disability or...
New Construction Miami Condos You Can Move Into in 2024
Real Estate News New Construction Miami Condos You Can Move Into in 2024
It’s no secret that we are in the middle of a major building boom and there are quite a few new developments in Miami opening in 2024 that you’ll be able to move into. So, if you love being the first to turn the key on your crisp new luxury condo, keep reading. (Psst, we also have a bonus list of all the condos you can expect to move into in 2025 at the end!)  With about 100 new pre-construction condos (and counting) in the pipeline since 2021, Miami developers have been on the fast track to deliver on the growing demand for luxury condos in the Magic City, especially condos on the water or condo buildings with water views. Even as most of the global housing market showed signs of a slowdown these past few years, Miami’s luxury condo market has witnessed sustainable growth. Following the business migration trends that started somewhere around 2020, we’ve seen a continued influx of international wealth, families, C-suite executives, and other top earners and investors moving to our...
The Ultimate Expat Guide to Moving to Miami
Lifestyle The Ultimate Expat Guide to Moving to Miami
Ever thought about grabbing your passport and moving to Miami? You wouldn’t be the first to be drawn to this tropical metropolis. It’s a place with a rich history, diverse culture, and spearheading innovation. Also known as the Magic City, it’s the only major city in the US to be founded by a woman, and it proudly claims the origin of sunscreen and the ATM! It’s no secret that Miami is a great choice for expats in pursuit of new opportunities. Its appeal is truly worldwide, attracting people from Latin America, Europe, and beyond. Proof of this is that the city was the most popular destination for people born outside of the U.S., attracting 54,500 new residents in 2023, the most out of anywhere in the country. This diversity is evident everywhere, from the vibrant neighborhoods and incredible food scene to its dynamic business, art and hospitality sectors. Living in Miami offers a global lifestyle with a very local flavor, full of opportunities to grow and explore. So, if you’re...
The Most Luxurious Condo Buildings in South Beach
Opinions and Advice The Most Luxurious Condo Buildings in South Beach
Situated at the southern tip of Miami Beach, South Beach continues to command its status as a premier global destination, attracting discerning individuals from around the world. Developers have meticulously crafted luxury condos in South Beach that appeal to people from every international location, whether for business, favorable tax environments, seasonal escapes from winter weather, or the cultural richness exemplified during events such as Art Basel and the South Beach Food and Wine Festival. Whatever the reason, there is significant investment potential for condos in Miami, specifically South Beach, as well as a proven superior quality of life. Below is our list of the 5 Most Luxurious South Beach Miami condos (or the 5 Most Expensive Condos in South Beach) based on the average listing price per square foot at the time of publishing, as well as some other favorites to note. But first, let’s start with an overview of what makes South Beach so special. Last updated: March 15,...
The Residences at 1428 Brickell Video Tour: Exquisite, Eco-conscious Living with Italian Luxury
Video Blog The Residences at 1428 Brickell Video Tour: Exquisite, Eco-conscious Living with Italian Luxury
Brickell, the Wall Street of the South, one of the most desirable Miami neighborhoods for international business professionals and families alike, is synonymous with innovation, a luxury lifestyle and original ideas. This time, the Brickell spirit is embodied in the fantastic new pre construction condominium — The Residences at 1428 Brickell.  In our latest video, Stephanie Bienstock, our director of Luxury Sales, visited the newly opened sales gallery to talk with Jennifer Behar Cervera about what makes The Residences at 1428 Brickell unlike any new residential development coming to Brickell, Miami. Join us as we learn about the project’s six driving forces — detail, craftsmanship, architecture, nature, privacy, and innovation — and tour the sales gallery to see all the finishes and details up close.     — What You Can Expect at The Residences at 1428 Brickell, Miami  If you care about the environment and love leaning into Italian design, then the first-ever solar-powered...
February 2024: Miami New Development and Pre-Construction Condo Update
Real Estate News February 2024: Miami New Development and Pre-Construction Condo Update
Miami’s pre-construction market buzzed in February with many newsworthy events throughout the city. The much-awaited Bentley Residences, Cipriani Residences, and Indian Creek Residences and Yacht Club all broke ground this month. And Brickell’s Mercedes-Benz Places, Key Biscayne’s Key Cassa, and Sunny Isles’ St. Regis' second tower launched sales.  Also, developers accelerated construction efforts for several luxury condo projects including Una Residences, 501 First, St. Regis Brickell, and more. Read on for details on these and more exciting updates in our monthly Miami pre-construction condo market roundup for February 2024: Launched Sales Mercedes-Benz Places – Brickell St. Regis Residences (North Tower) – Sunny Isles Beach Key Cassa – Key Biscayne New Sales Gallery Bay Harbor Towers – Bay Harbor Islands Broke Ground Cipriani Residences – Brickell Indian Creek Residences and Yacht Club – Bay Harbor Islands Bentley Residences – Sunny Isles...