International Homebuyers Profile: Who Is Buying Where!

With international buyers fueling Miami's blooming real estate market, it comes convenient to check the profile of these buyers, and the 2013 Profile of International Home Buyers in Florida by the National Association of Realtors has all of the hints to analyze this phenomena, and have a broader look at the cash buyers that have been coming to get all of the greatest luxury condos deals in appeling areas like Downtown Miami, Brickell, Aventura, and more. 

We are going to focus on Latin American buyers, because of its cultural afinity with Miami and the bonds that have been built through generations of affluence to this city that has been called the "most northern city of Latin America", or "the most developed city in Latin America". Latin Americans represent 30% of all of the international demand for Miami condos, and that is a large number. In 2012, international buyers stood for 90% of buyers, and this means that Latin Americans are about 18% of the demand for Miami condos. 

Of these share, the largest group is Venezuelans with 14%, followed by Argentinians and Brazilians with 11%, and Colombians and Mexicans stand for 8% and 5% of the demand respectively. There is a factor that serves this analysis, and it is that Venezuela and Argentina both are countries going thru an important crisis in the economy, and both are home of investors who are looking for secure markets to save their cash. 

Another factor that impacts this trend is that Brazil's and Colombia's currencies are strong compared to the dollar, which made investing in US markets easier and more affordable for many on these countries. 

These trends are impacting the profiles of offer and demand in Miami, because sellers naturally go for cash buyers who make an offer and close deals quickly. However, there is still room for mortgages and loans, because interest rates remain low! This configures a great momento to invest and buy a property in Miami!