The opening of the US borders to Canada, Russia, Brazil and 30 other countries is already showing signs that there will be a strong flow of international investors looking for real estate in Florida. The already heated housing market is projected to suffer even more from the lack of inventory in the single family home segment and soon may pressure prices in the condo segment as well, which still offers great opportunities in the region.
Over the past two years, the biggest impact has been felt in the single family homes segment. The condos segment was left out and still has a reasonable inventory and plenty of opportunities with attractive prices. It is expected that, with the recent opening of borders, the condominium segment will also be in demand, with the consequent pressure on property prices.
Opportunity for Foreigners
“It’s a great opportunity for international buyers who want to invest in Florida. Prices remain low and, with the opening of borders, demand will increase considerably, with a consequent appreciation”, projects Heloisa Arazi, broker at AMG International Realty, a full-service luxury brokerage firm in Florida.
According to the National Association of Realtors, in the years before the crisis (2018 and 2019), foreign buyers invested US$ 226 billion per year, on average. During the period of border closures and restrictive measures, that number plummeted. In 2021, only US$ 107 billion were invested, which indicates a considerable pent-up demand that was waiting for the opening.
About AMG International Realty
AMG International Realty is a full-service luxury brokerage firm in Florida. If you want to learn more about Florida real estate market and be aware of the opportunities for luxury oceanfront condos in Miami, please contact us now and chat with me on WhatsApp: +1 (305) 318 6968 (Heloisa Arazi).