In Miami, foreigners account for more than 65 percent of all condo and home sales, according to the Miami Association of Realtors in 2008 the real estate market in this “Gateway to Latin America” was in the dumps in the hottest deals involving foreclosures to the future looked as dark as many of the new beachfront luxury condo towers where scores of buyers had forfeited sizable deposits and walked away from their deals.
And We had 70 years of product inventory out of the ground or ready to be built, recalled Maurice Veissi, a local Realtor and president of the National Association of Realtors about a 3rd who had contracts walked to another 3rd had to close but never built was basic supply and demand in the prices went down and down and down that was before the Brazilians became the latest wave of Latin Americans to hit Miami to they 1st flocked to spend holidays on the beach and then to buy vacation condos, some times more than one and mostly for cash.
The Buyers come from Brazil’s wealthy states, like Minas Gerais and Rio Grande do Sul, as well as the major cities of Rio and Sao Paulo to access is easy, with many nonstop flights (of about 9 hours) offered to Miami from airports throughout the country.
And We had 70 years of product inventory out of the ground or ready to be built, recalled Maurice Veissi, a local Realtor and president of the National Association of Realtors about a 3rd who had contracts walked to another 3rd had to close but never built was basic supply and demand in the prices went down and down and down that was before the Brazilians became the latest wave of Latin Americans to hit Miami to they 1st flocked to spend holidays on the beach and then to buy vacation condos, some times more than one and mostly for cash.
The Buyers come from Brazil’s wealthy states, like Minas Gerais and Rio Grande do Sul, as well as the major cities of Rio and Sao Paulo to access is easy, with many nonstop flights (of about 9 hours) offered to Miami from airports throughout the country.
