According to MIAMI Association of REALTORS® (MIAMI), Brazil retains first place with regards to searching online for South Florida real estate.
The number gives a more direct understanding about the extent to which Brazilians prefer Miami: they have been ranked as NO.1 in terms of the interest in Miami real estate in the 17 of the past 18 months.
As a matter of fact, South Florida has been a preferred investment destination for people from South America for a long time. Investing in the US is a great means for the upper-middle class and above to secure the wealth they have accumulated in their own countries, whose economic conditions in the future are uncertain. Miami is considered one of the most diversified cities in the US and has the highest concentration of foreign-born residents. Miami is also a superior choice for commercial real estate investment.
In comparison with European buyers, who are also major contributors to the growth of South Florida real estate market, the South Florida is geographically more convenient and culturally more familiar to Brazilians. As the member of the Golden BRICS, Brazil has greatly improved its economy, but growth has slowed down due to the recession in the recent years. This has been driven by low global economic growth and other domestic issues. Under such circumstances, it is logical and safe for Brazilian middle class to invest its money in the US real estate market to diversify their investment portfolio. Investments in Miami not only reduce unsystematic risk but also offer high potential returns on investment.
Brazilians are the third-largest buyer of the real estate in South Florida among all foreign buyers, with 12 percent of registered foreign transactions. Only Venezuelan (21 percent) and Argentinian (13 percent) rank higher. The average price they spent on Florida real estate in 2015 is $587,700.
The top-10 countries visiting Miamire.com in November 2015:
10. United Kingdo