Miami agents target brazilian buyers

Photo: Kud4iPad

Miami agents are actively targeting buyers from Brazil, as South America continues to lead international demand.

Brazil is consistently the top foreign market searching for properties on Miami Realtors' web portal. Home buyers from Brazil purchase the third-most South Florida real estate among all foreign countries, according to the 2014 Survey of International Home Purchases conducted by the National Association of Realtors for Miami.

Indeed, Brazil registered 11 per cent of all foreign South Florida deals last year, followed by Venezuelan and Argentinian. Brazilians in South Florida also spend more on properties than other foreigners: $495,000 average sale price compared to $245,000 among all buyers in Florida.

Nearly 3 million Brazilians live outside their country of 200 million, according to 2013 data from the Brazilian Foreign Ministry, about one-third of them in the US. Companies that monitor Brazilians doing business in Florida believe that about 250,000 to 300,000 Brazilians now live in the Sunshine State. Brazilians certainly comprise a majority of Miami’s tourists, 51 per cent in 2013, and they have a cumulative investment of $1.7 billion in Miami, according to Miami statistics.

"Miami’s world-class shopping, restaurants, and beaches continue to attract Brazilian home buyers," says Teresa King Kinney, the chief executive officer for Miami. "With a growing number of Miami restaurants and retail stores catering to them, Brazilians are increasingly setting up businesses here, developing land, and relocating their families."

Now, executives from the group are actively targeting buyers from Brazil, attending the IV Convensi, a top Realtor conference and expo in Curitiba, Brazil, to promote real estate. More than 4,000 brokers and investors from Brazil and around the globe attended the event, which ran from 13th to 15th September.