Latinos have increased their presence in the real estate market in Miami, showing a significant outflow of capital from Latin America to Florida.
Bloomberg Línea consulted a report from The Miami Association of Realtors (Miami Realtors) where the company pointed out that real estate sales to foreign investors slightly decreased in the last year, but Latinos represented a third of property purchases.
Legal security in the United States is incomparable. The issue of rentals and property stability attracts a lot of international investors, especially when compared to Latin American markets," commented Geovanny Reza, commercial manager of Real Estate Investments by Borrero Corp.
Colombian and Argentinian entrepreneurs and investors are the main buyers of homes in Miami, representing 15% and 14% of total purchases, respectively. Other notable buyers include Brazilians (7%), Venezuelans (5%), and Mexicans (5%).
| Colombians | 15% |
| Argentinos. | 14% |
| Brazilians | 7% |
| Venezuelans | 6% |
| Canadians | 6% |
| Mexicans | 5% |
| Peruvians | 5% |
| Ecuadorians | 5% |
| Chileans | 4% |
| French | 3% |
Properties in Miami vary widely in price and type, ranging from modest apartments to luxurious condos and houses in exclusive areas.
Although investments can start at $340,000, the general landscape indicates that apartments usually start at $500,000 and houses in residential areas range between $700,000 and several million dollars.
| Brazilians | 1,000,000 |
| Venezuelans | 521,000 |
| Colombians | 446,800 |
| Canadians | 437,700 |
| Argentines | 340,400 |
For many Latin investors, the purchase of properties in Miami not only represents a diversification of their portfolio, but also a protection against the political and economic instability in their home countries.
Latin America is shifting to the left, generating uncertainty. People are looking to protect their assets in more stable and nearby markets like Miami, a city with a similar language and convenient proximity," Reza explained.
Jorge Vargas, founding partner of Tobon Group, from Cervera Real Estate, pointed out that Latinos prefer projects in pre-construction and luxury condominiums already built in central areas with access to services and entertainment.
The most sought-after areas include Brickell, Downtown Miami, Bal Harbour, and Sunny Isles, known for their high demand and infrastructure.
Emerging areas such as Wynwood and Edgewater also attract investments due to urban renewal projects.
A notable trend among Latin investors is the acquisition of properties for short-term rental, popularized by platforms like Airbnb.
Miami Realtors' study revealed that 71% of foreign investors do not use properties for full-time living, but rather to rent them out during peak seasons or holidays. This also reflects Miami's consolidation as one of the most important tourist destinations in the United States.
The preference for short-term rentals is due to the search for high and fast returns. In addition, new properties are more profitable and cheaper than used ones, which differs from local markets in Latin America," added Reza.
The real estate market in Florida continues to attract Latin investors seeking stability, diversification, and profitability, consolidating itself as a key destination for real estate investment.
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