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Miami is the International Buyer’s Playground.

March 15th, 2012 Written By Carol Pawley

Click image to enlarge.

Who’s benefiting from the seemingly deflated real estate market or the depressed dollar?

Current market conditions have created tremendous opportunity for investors and home buyers from abroad who are making sound investments in Miami for the future. The graph above shows approximately how much foreign buyers are spending, taking into account the most recent exchange rates and home values.  Countries with the top discounts are Brazil, China, Japan, Peru, Colombia and Canada. Buyers from this category account for approximately 60% of purchases, most made in cash. Even with so much activity, foreign buyers should beware and find a trustworthy realtor to work with.  The buying phenomenon can be felt all over Miami, most apparent in areas like Brickell, Miami Beach and Aventura where there is a concentration of condo sales, an international favorite.

However, the influx of foreign buyers is doing more than just boosting real estate.  From Mary Brickell Village to Coconut Grove to Midtown, new diverse restaurants are popping up all over.    A greater emphasis is being placed on the arts and culture, apparent from developments like the Adrienne Arst Center, the Ziff, and the Miami Science Museum. Miami got the piece of the puzzle it was missing: more diversity, more culture, more exposure. As the pieces fall into place we get a wonderful opportunity to engage in the opera, the ballet, art galleries in Wynwood, food and wine festivals, international film festivals, Disney cruises, all making Miami a world class destination.

If you would like more information on foreign buying, please contact me at (305) 992 6188 or email me at carolapawley@gmail.com

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