Latinos continue to bet on properties located in Miami-Dade, being 60% of investors in this area, according to a report from the county's 'real estate association'.
By Miami Diario Newsroom
The latest report from the 'real estate association' of Miami-Dade, showed that foreign investment continues to be the main economic source of the real estate sector, most of the negotiations come from the United Kingdom and Canada, accompanied by the latin american investment from Brazil, Argentina, Colombia, Mexico, Chile and Peru.
According to figures from the 'association of realtors of Miami', the sale of properties increased from 7.100 billion dollars in 2017 to 8.700 billion dollars in 2018, with condominiums being the most sought-after properties.
In the last three months of last year there was a growth of 6.9% in condominium sales. Of the total sales registered in Miami and Fort Lauderdale, 52% corresponded to international buyers.
This trend is expected to continue during 2019, since the ups and downs of previous cycles have been overcome and the real estate market currently offers security to local and international investors.
In this way, "Miami continues to be the place of preference for Latin Americans who want to invest in properties abroad," said Edgardo Defortuna, president of the real estate firm Fortune International Group. He highlighted the case of Mexicans, who already prefer South Florida over other destinations on the West Coast of the United States.
Defortuna hopes that the increase in investments in real estate will continue since, according to what he said, the ups and downs of the market have already been overcome.
With information Expansion