Venezuelans leading Latino real estate investing in Miami

Latin Americans have a love affair with Miami, but judging by what you see in the real estate market , this relationship has rarely been so intense .

Venezuela , Brazil and other Latin American countries rich have contributed decisively to the recovery of the real estate market in Miami, which became a symbol of the housing crisis in the U.S. way .

It is a trend that reflects the strong economic growth in Latin America, a region that resisted quite well to the global financial crisis.

Encouraged by these external buyers, real estate developers in Miami are launching new projects , but Florida remains one of the U.S. states most affected by the housing crisis . For this reason , Miami has become a favorite destination for international buyers .

"Latin America has helped breathe new life into our market," said Jorge Perez, president of Related Group , a leading real estate in South Florida developer.

The tendency to Venezuelans who, like many Latin American traditionally seen in Miami real estate investing as a safe haven against economic and political volatility in the region is heading.

According to the Association of Realtors in Miami , Venezuelans were the main foreign buyers in 2013 , accounting for 15 % of all sales to people outside the U.S. . Brazilians and Argentines came shortly after this ranking.

Last year , sales of residential properties in Greater Miami had a record of 46 % compared to 2012 , according to the association . In condos , the prices finally picked up again in the second half of last year , and in December , the owners of houses also had their first recovery from the recession .

Many Venezuelans say they prefer to buy in Miami because they believe there are fewer business opportunities in your country, and believe the government of Hugo Chavez called socialist is stifling the local housing market .

" Chavez is the effect," said the Venezuelan Puzzi Cleto , who sold an apartment he had bought in Spain and two in Miami , now rented. " You can not invest in Venezuela today . "

For other South American countries , the main attraction of Miami are the lowest prices in relation to property in their home countries .

A recent report by property RelatedISG , Miami, showed that prices of apartments and homes closed in downtown Miami neighborhoods are below the new buildings in cities such as Rio de Janeiro , Sao Paulo , Buenos Aires and Bogota.

In downtown Miami , said the report, the average price per square foot is $ 4,300 while this value reaches $ 10,750 in Rio Paulo , Sao at $ 9675 and $ 5375 in Buenos Aires.