The pandemic has dramatically changed how we view our homes. As the world has shifted toward working and schooling remotely, families have needed to adapt to their new situation and the new normal and have come to truly realize the importance of having a home. Homeowners now place higher value on size and comfort over location, which has led to a high demand for single-family homes. According to the Miami Realtors Association, new pending sales for Miami single-family homes increased 23.8% year-over-year. This, together with low interest rates of the Federal Reserve, which are currently at 0.25%, have made it a prime time for investors to buy properties in the U.S. In the case of Miami, Fort Lauderdale and West Palm Beach, the international markets that are currently driving demand are Canada, Argentina, Brazil, Colombia and Mexico. It’s important to take into consideration that the U.S. dollar has proved to be a strong currency throughout the years, and compared to Latin American currencies, is always seen as a safe investment. Miami continues to be the #1 city to attract foreign investors for many reasons. Aside from the beautiful weather, and great tourist attractions, Miami is also considered the Latin American Business Capital of the World, with many multi-national companies establishing their Latin American headquarters in the city.
ABOUT THE AUTHOR Giovanna Guzman is the broker and owner of International Realtors Group, which just celebrated its 10th Year Anniversary. With over 17 years of experience in the real estate industry, she has gained great insight on the Florida real estate market and has helped many international clients find the perfect investment property; 305.507.5546; InternationalRealtorsGroup.com.