new analysis <\/a>from the Miami Association of Realtors finds that international purchasers now account for 52% of all new-construction sales across South Florida over the past 22 months \u2014 a shift that confirms what developers have been seeing on the ground for months.<\/p>\nThe sharpest demand is coming from Latin America, which now represents 86% of foreign transactions.\u00a0<\/p>\n
A fresh analysis from the Miami Association of Realtors shows foreign buyers now make up more than half (52%) of all new-construction sales in South Florida over the last two years, with closings coming from 73 countries. Earth Pixel LLC. \u2013 stock.adobe.com<\/p>\n
Colombia, Mexico and Argentina lead the pack, a trend brokers say reflects both political uncertainty abroad and the continued draw of Miami as a safe place to park capital.<\/p>\n
The report lands as Miami climbs global wealth rankings.\u00a0<\/p>\n
The city now ranks No. 4 worldwide for ultra-rich residents and No. 1 for second-home ownership among the world\u2019s wealthiest \u2014 a sign that Miami has moved firmly into the top tier of global playgrounds for high-net-worth households.<\/p>\n
And it\u2019s not just a trickle from abroad \u2014 Latin America alone accounts for 86% of international purchases, led by Colombia, Mexico and Argentina. Michele \u2013 stock.adobe.com<\/p>\n
Miami\u2019s global rise is showing up elsewhere, too: the city is now No. 4 worldwide for ultra-wealthy residents and No. 1 on the planet for second-home ownership among ultra-high-net-worth buyers. Sami Kirberg \u2013 stock.adobe.com<\/p>\n
Despite higher borrowing costs and rising insurance premiums, Miami still offers buyers more space for the money than many rival markets.\u00a0<\/p>\n
A $1 million budget buys almost four times as much prime real estate as Monaco, and considerably more than in New York or London, giving Miami a clear value edge even at today\u2019s prices.<\/p>\n
Even with high rates and insurance costs, Miami still delivers unmatched value \u2014 $1 million buys nearly four times more prime space than Monaco, and more than New York or London. Fotoluminate LLC \u2013 stock.adobe.com<\/p>\n
The kicker: most foreign buyers are paying cash, making them one of the most stable forces in the market right now. Felix Mizioznikov \u2013 stock.adobe.com<\/p>\n
And cash remains king. Most international buyers are closing without financing, a factor that continues to stabilize the market and keep new-development deals moving even as interest rates fluctuate.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Miami\u2019s pipeline of new condos and luxury towers is being snapped up by overseas buyers at a pace…\n","protected":false},"author":2,"featured_media":70119,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[4101,40569,4528,28,40570,9047,3446,803,4392,123,125,124,40571,2159,480,804,40572],"class_list":["post-70118","post","type-post","status-publish","format-standard","has-post-thumbnail","category-miami","tag-argentina","tag-cash-money-records","tag-colombia","tag-florida","tag-foreigner","tag-homeowners","tag-latin-america","tag-luxury-real-estate","tag-mexico","tag-miami","tag-miami-headlines","tag-miami-news","tag-monaco","tag-money","tag-real-estate","tag-residential-real-estate","tag-study-says"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/70118","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=70118"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/70118\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/70119"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=70118"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=70118"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=70118"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}