Brazilians are Investing in Properties In South Florida now.
It all started like a joke. A few Brazilian immigrants cross over to the United States. They settle comfortably and start doing pretty well for themselves. Families start buying homes, businesses invest in property and, almost overnight, several U.S states see a surge in property ownership that -considering the circumstances- is a welcome relief. However, this hardly explains why Brazilians are buying up Florida. It made sense in 2008 to buy into the U.S property market because the world economic crisis was calling the shots. But we’re well past the nightmare of 2008 and the demand in still peaking. So when you see the caption: Brazil Is Back: Buyers Turn To Investment Properties In South Florida, don’t be surprised, start advertising your property immediately.
Off-shore Is Safer
The political mess Brazil currently finds itself in is a major factor, says Kenneth Rapoza, a contributing writer for Forbes magazine. Self imposed political exile has overtaken the mindful and pragmatic investor when it comes to securing the future in off-shore havens like the U.S, particularly Miami Florida. On the other hand, this should not been seen as something that will go on forever. According to officials from the World Bank Group, Economic reforms implemented in the wake of recent political events are set to bear fruit two years from now. So besides the obvious reasons, property buying trends are set to remain constant for quite some time.
Cash In On The Action
The figures speak volumes about the potential for monetary gain for those well placed to cash in on the action. Perhaps generalisations terrify you, so let’s consider the statistics. Brazil comes a close second after Venezuela when it comes to South Florida’s top international buyers list: A whopping 12% of international buyers come from Brazil. Further, the average Brazilian parts ways with at least $766 000 per purchase, higher than any other foreign national. Over and above, Florida has the best foreign property investment portfolios in the U.S, standing at 22% of purchases made by foreigners.
Prime Investment Area
There’s nothing that scares investors away as economic uncertainty. Miami is different though. Miami is always buzzing with activity as affluent people from around the country flock its bustling streets to have some fun, and fun is good for business. But besides being a popular holiday destination with its expansive beaches and effervescent sunshine, Florida has one of the most flexible property laws in the U.S. Then of course there’s the fact that there has been an increase in direct flight offerings from Brazil, a move that has made it more convenient for Brazilians to invest in Miami.
Despite the current Donald Trump administration taking a heavy handed approach against immigrants, there is a strong belief amongst real estate agencies that this will not affect trends significantly. Even though some may say that the property market will decline in popularity in a few years, this shouldn’t be a reason to panic. Florida laws place a great importance on property rights and that won’t change overnight.