Miami: 58% of Argentines acquire real estate
Miami is one of the most international cities in the United States, especially for Latino residents who not only consider it as a tourist attraction but also as a city to invest in the real estate sector, reported iProfesional.
In the last half decade, the City of the Sun has generated approximately 144.000 new jobs and has been one of the countries that maintains a low unemployment rate. This is how, since 2014, the city has maintained a high rate in the index of investments in real estate in commerce in all areas of the city.
The areas that have been most marked to acquire real estate have been in the center of it, such as the Design District, Downtown, Edgewater and we cannot forget Wynwood, as reported by the United States Census and Statistics Office.
Why do Argentines invest in Miami?
The reason why Argentines have taken South Florida into account is easy, because “Argentines have been leading investments in this real estate format due to the country's economic uncertainty; the depreciation of the peso against the dollar, as well as the prices of the local real estate market”, according to iProfesional.
In this way, it has been categorized that Argentines "occupy the first position of the total international transactions in real estate in South Florida with 13%, reaching investments of US$900 million between August 2020 and July 2021 alone."
After South Americans, the other Latinos who invest in South Florida are Colombians representing 12%, Venezuelans with 10% and Mexico with 7%.
Similarly, Brazilians and Chileans have invested, meaning 6% of these investors in the city.
The study also determined that of the total number of Argentines in the city, 58% acquired condominiums in order to rent them, and in this way it has been possible to negatively reverse this trend that "had occurred in 2019 when those born in the The country had gone from first to fourth place in total international transactions with 8% and investments for US$700 million, below Brazil (12%); Colombia (11%) and Venezuela (11%)”, according to the media.
Author: Natasha Palís 7:05 am