Skip to main content

A Message to Miami: The Brazilians Are Coming!

Phil Hall
Jul 15, 2015
Miami Florida Pic

While the world will be coming to Brazil next year for the Rio de Janeiro Olympics, the Brazilians are arriving in droves in Miami.

The Miami Association of Realtors is reporting that Brazilians topped the list of foreign nationals searching their Web site for local real estate opportunities. This marks the 12th consecutive month that Brazilians are the top prospective homebuyers in this popular Florida market. Potential buyers from Colombia, Canada, Venezuela and Argentina round out the top five list of international inquiries; the most U.S.-based Web inquiries came from California, Georgia, Texas, New York and Illinois.

Jennifer Santos Sily, an attorney at Becker & Poliakoff who represents international real estate investors, told The Miami Herald that the rise of a stronger U.S. dollar and instability in Brazil’s economy has brought more high-ticket buyers to Miami.

“When the dollar was weaker we had a lot of middle-class Brazilians purchasing properties with cash,” Sily said. “Now the middle-class is a little more reserved with their purchases, and there’s more financing happening. People buying property in the $300,000-$700,00 range are not buying as much in bulk as the higher-end clients.”

Miami is the third behind New York and Los Angeles as the go-to U.S. destination for international buyers.

Published
Jul 15, 2015
Rocket Launches Visa Signature Card

Rocket says its first-of-its kind credit card will help clients save on home purchases and homeowners pay off mortgages.

Guild Mortgage Acquires Cherry Creek Mortgage

Terms of purchase not disclosed; reverse mortgage volume added to Guild.

Mar 14, 2023
Vigilance, Dedication, And Commitment Forge Legends

Submit a nomination for Mortgage Banker Magazine’s Legends of Lending.

Mar 10, 2023
FTC Moves To Block Black Knight, ICE Merger

Says it 'would drive up costs, reduce innovation, and reduce lenders’ choices.'

Mar 09, 2023
Rocket Arms Brokers With Bully Shield Vs. UWM

Rocket covers penalties and court fees for brokers who want to get out of United Wholesale Mortgage’s ultimatum contract. 

Feb 06, 2023
Top Texas Originator Sees No Surrender To 2023

Big cities will determine the battle

Jan 26, 2023