Colombian Real Estate Investments Increased In Miami
Due to the economic situation in the country and the uncertainty in the investment landscape, many Colombian families have preferred to invest their investment savings in the purchase of real estate or real estate in the United States.
In fact, among Latin American investors, Colombians are among those who invest the most in this type of business, according to the Miami Association of Realtors. This year national investors represented 15% of the real estate market in this city.
Several experts affirm that one of the best savings alternatives is investment, because in addition to having the money in a business, it is generating profits.
However, Colombian investors have preferred to look abroad, especially the United States in search of more stable markets and with a higher appreciation rate than their countries. However, investing in real estate was not a possibility for the majority, due to its long procedures and high costs.
However, according to the National Association of Real Estate Brokers, Latin Americans are the predominant group among foreign property buyers in the United States, with a 23% market share. Colombia ranks fifth with 3%. Likewise, Florida is the preferred state to invest, since 55% and 60% of Colombians prefer to do it there.
It is estimated that 1 in 10 foreign investor transactions occur in the city of Miami and are from Latin America. Between August 2021 and July 2022, foreigners invested US$6.8 billion in the purchase of properties in Miami Dade, which implies an increase of 34% compared to the previous twelve months.
In times of uncertainty, real estate has become the number one option for people who want to protect their assets from possible currency devaluations in their country and emigrate to the United States in the future.
Among the benefits of making foreign investments is the dollarization of assets, income in dollars, guaranteed valuation, easy access to financing and low interest rates.
Alex De La Rotta, International Real Estate Agent, says that “it is necessary to shield the heritage against any local circumstance of a political, social or economic nature, and to invest in dollars by investing in properties in Miami. As of today, investing in real estate is the fastest and safest way to do it for Colombians. This not only protects assets in dollars, a strong currency, but also allows investing in a safe market with very high profitability.”
Source: Breaking Latest News