Price gains for homeowners are on the rise, with Miami the third-highest market in the country. This may be resulting from an increase in foreign investment. Nearly one-third of purchases by foreign buyers in Florida are either in Miami or Miami Beach. Canadians account for the largest portion of foreign investors, followed by Brazilians. In recent months however, investors from Argentina have passed their counterparts in Brazil, becoming the most active purchasers of Miami real estate, in part due to economic conditions in the countries.
We here at Boyer Law Firm are familiar with the requirements of foreign real estate investment. Please contact us with any questions.
Sources: “Foreign Investors Buying Miami Commercial and Resident Properties,” Lindsey Zohn and Suzanne Amaducci-Adams; “Argentines Turn Cash Into Condos in Miami,” Alexei Barrionuevo.