Are International Home Buyers Outspending Miami’s Domestic Ones?

by Isaac Benmergui, Esq on June 27, 2012

In 2011, roughly $66.4 billion dollars were fed into the U.S.’s real estate market by international buyers. So far, in 2012, real estate purchases by foreign buyers have pumped more than $82 billion into the market. Miami realtors are working with more Brazilian and Canadian buyers who most often pay cash for their new digs.

Buyers from countries with healthier economies see real estate investments in the U.S. as a good deal right now. What might appear to a U.S. citizen as a bad time to buy real estate, makes good financial sense to an outsider who can pay cash for a luxury home or condo, or even a vacation get-a-way, in a warm and sunny climate with beautiful beaches.

While there has been an increase in the number of international buyers, their interest is actually buoying the Miami real estate market, and their purchases remain only a small percentage of the increase in sales at 9 percent overall.

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