Karina Bornacelli grew up in Valledupar, Colombia, in a family deeply involved in the real estate industry. From a young age, she learned about the business, watching her father transform vacant lots into significant real estate developments.
For more than a decade, Bornacelli has been involved in the Miami real estate market, specializing in the city’s premium areas, while gaining international experience with transactions in places like Dubai. With a background in journalism, Karina is now a key figure in understanding the evolution of the Miami market and the short-term outlook for a city undergoing a profound transformation.
Bornacelli recently sat down with the Islander News to discuss the real estate market.
IN. How do you see the evolution of Miami’s real estate market?
KB. Miami continues to show strong and stable demand from both domestic and international buyers. The market is maturing, becoming more sophisticated, and maintaining its position as one of the most desirable global destinations for investment and lifestyle.
IN. Which areas are most attractive right now for international investors seeking good returns and future appreciation?
KB. Key Biscayne, Brickell, Coconut Grove, Edgewater and the Miami River District stand out. These areas offer strong rental demand, lifestyle appeal and long-term appreciation.
IN. With so many new developments and pre-construction projects, do you see a risk of oversupply in the short term?
KB. Not immediately. In Key Biscayne, inventory is naturally limited and demand remains consistently strong, which protects property values. In Brickell and the Miami Financial District, more than 40 developments are underway, which may create temporary peaks in supply, but absorption remains solid due to international demand, corporate relocations, and a strong rental market. Miami overall remains well-positioned.
IN. Argentinians and Colombians are currently among the top international buyers in Miami. How have you seen this trend?
KB. This trend has grown significantly. These buyers seek stability, asset protection, and quality of life. They are well-informed, decisive, and play a major role in sustaining demand.
IN. How has your experience been with buyers exploring investment opportunities in Dubai?
KB. Very positive. Dubai offers security, modern infrastructure, strong returns, and an efficient, investor-friendly environment. Many clients see Dubai as a natural complement to their Miami investments.
IN. Are prices in Dubai more accessible, and would you recommend an investor consider Dubai before Miami?
KB. It depends on the investor’s strategy. Dubai offers attractive pricing and excellent ROI, while Miami offers long-term stability, liquidity, and constant global demand. Both markets complement each other.
IN. What type of inquiries are you receiving most frequently right now?
KB. Families looking for homes in Key Biscayne and Coconut Grove, and investors focused on pre-construction opportunities in Brickell and Downtown.
IN. What do you expect for Miami’s market in 2026? Could the World Cup have an impact?
KB. 2026 should be a strong year. The World Cup will increase global visibility, tourism, and short-term rental demand. Historically, global events elevate investor interest, and Miami should benefit from that exposure.
About Karina
Karina Bornacelli: I was born in Valledupar, Colombia, and grew up in a family rooted in architecture and real estate development. I spent my childhood watching empty lots evolve into residential communities built by my father, Andrés Bornacelli, whose development firm has been active for more than 40 years. This background shaped my early understanding of the industry.
I am a journalist by training with more than 12 years of experience in residential and commercial real estate in Miami, specializing in Key Biscayne and other prime neighborhoods.
I live in Key Biscayne, where I enjoy the island lifestyle: going to the beach, roller skating, practicing pilates, touring properties to study design and décor trends, and exploring the new developments transforming Brickell and the Miami Financial District. In my free time, I am committed to continuous learning and to my role as an Ambassador for the Young Professionals Network of the Miami Association of Realtors, where I help represent Miami internationally, including at the annual International Property Show in Dubai.
I am also the proud mother of Hernando, who is in college studying Business.