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BRAZIL TAKES OVER SOUTH FLORIDA

Brazilians are not only visiting  Sunny Isles Beach, but in record numbers, they’re investing and keeping real estate in Miami and most of South Florida going.

Suddenly, everything seems to be turning hot green and yellow. Brazilians are snapping up beachfront luxury properties specially in the city of Sunny Isles and going all the way to downtown Miami, they are investing in everything from real estate to big franchises, and shopping like there is no tomorrow.

“The trend now is Brazil in Maimi”  they are here to stay and buy Real Estate. Brazil has become one of the most important economies in South America and we see it every day. Their power of aquisition keep the Brazilian visitors coming to Miami to bring us part of their culture and most importantly “Their money”.


“Brazilian buyers are breaking all sorts of records,’’ said Rolando Aedo, senior vice president of marketing for the Greater Miami Convention and Visitors Bureau. “It has been our rock-star market of the moment and it’s predicted to continue on growing.’’

In 2010 Miami-Dade welcomed more than 500,000 Brazilian visitors who spent more than $1 billion dollars in Real Estate and other type of investments. That would move Brazil into the top spot for international visitors, dethroning Canada, the perennial leader.

During the good oil boom years, Venezuelans were the number one buyers that came from Latin America. But what sets the Brazilians apart from the Venezuelans or most international buyers is there are so many more of them and they’re really big spenders.

To cater to the Brazilian buyers, the tourism bureau has published shopping guides, maps and all kinds of materials in Portuguese. This campaigns allow our  visitors from Brazil to feel like home.

The Brazilian Consulate in Miami estimates that there are approximately 250,000 to 300,000 Brazilians living in the State of Florida with the largest populations in Broward and Miami-Dade counties including Orlando and it’s soundings .

What’s generating the Brazilian phenomenon?

Brazil’s economy is booming and expected to become the world’s fifth largest by the year 2016. In addition and most important is Brazil’s currency ” the real ” is extremely strong against the dollar, making Florida trips and shopping very affordable for Brazilians. Coming to Miami for a week or weekend is often cheaper for a Sao Paulo resident than to go on a vacation in Northeast side of Brazil.

“Real estate is extremely high in Brazil right now — unattainable for many people,’’ comments Brazilians who work as a Realtors in the South Florida areas.

For example, an apartment equivalent to a three-bedroom unit at any of the luxury buildings in Sunny Isles Beach that goes for $1.6 million might cost $2.5 million in Belo Horizonte, a state capital in southeastern Brazil.

And there’s another reason so many Brazilians are visiting: They just like it here; the beaches, the weather, the people, the shopping and all the attractions in South Florida are of great pleasure to them.

Real estate sales to Brazilians are booming.

“Today, they’re the most important international segment of the Miami and South Florida market, during the past 2 years, they have come in very strongly. About a quater of luxury condos have been to Brazilian buyers.

They basically fall into two categories: high-end buyers who are buying second, third or fourth homes and investors who tend to purchase properties in the Brickell and downtown Miami areas.

If they’re buying for themselves, they like luxury beach-front properties in Miami Beach and the Sunny Isles Beach area, real estates specialists Marco and Miguel Peralta say.

In little words, ” Brazilians are very, very rich,’’. They are not looking for bargains. They are the type of people who will pick out an apartment they like and then ask the price “just to know”.

But not all the Brazilian real estate buyers fall into the ultra-rich category. “Now Brickell is very affordable for the middle class,’’ say the statistics.

“We think with the emergence of Brazil as a world economic power, it will become very fertile for the Real Estate in South Florida,’’. “There’s no market going forward that offers Florida the opportunities that Brazil does.’’

2 comments:

  1. I loved this post! You have such awesome info! Thanks for sharing them.

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  2. Thanks, I appreciate the feedback!

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