This means that Miami-Dade “captured 51% of all property acquisitions made by foreigners in South Florida in 2017.”
In Broward County, situated north of Miami as well as with Fort Lauderdale as the primary city, investment in the domestic real estate by immigrants was led by Canadians (12%), Argentines (8%) and also Brazilians, Colombians and also Venezuelans (7% each).
In total amount, international investments amounted to $ 7.1 billion in the acquisition of residences in regions such as Miami-Dade, Broward or Palm Beach, in southerly Florida, which stands for a dive of 15% as compared to 2016, when they invested US $ 6.2 billion, inning accordance with the Association of Real Estate Agents of Miami.
They stand for 15 percent of complete property acquisitions, adhered to by Venezuelans, Canadians, as well as Colombians. The wonderful growth remained in 2017.
” The appetite of foreigners for properties in South Florida only tells a part of the background of Latin American resources that involves the United States,” said Alex Zylberglait, an expert in the sale of business properties and offices.
As for the residential or commercial properties that were added, there were a total of 15,400 homes, which means a rise of 40% compared to 2016.
An instance of this is the financial investment made by Venezuelans in the Miami-Dade household market, where they stood for 12% of the total foreign investment funding, followed by Argentines as well as Brazilians (9% each) and Colombians (6%).
” For some years currently, these (Latin American) customers have likewise invested cash in industrial homes that create cash flow,” Zylberglait included.
The growth is due to an investment project of USS500,000 with the creation of work enables the financier to access the EB-5 visa, a course to later on acquire long-term residency and, eventually, United States citizenship, he stated.
The Argentinians were the immigrants that spent most in the reality field of South Florida in 2017, with 15% of the total acquisitions of real estate, complied with by Venezuelans (11%) and also Canadians as well as Colombians (10% each).
Experts concurred that “Venezuelan capitalists are the ones who are most encouraged to obtain cash out of their nation due to the political and also economic collapse.”
In Palm Beach, Canadians took the lead with 31% of property financial investment adhered to by Brazilians (15%).