Venezuelan buyers are increasingly interested in Miami … and in particular in areas such as Miami Beach and Brickell… near the water.
66% of all Florida property acquisitions right now by Venezuelans are in the Miami, Miami Beach and Fort Lauderdale areas.
Almost 2/3 of Venezuelan investors buy condos, as opposed to single family homes …
And they tend to buy high-end property (very building-specific … with a preference for modern highrise construction) … The Icon on Brickell is a good example… offering an uber-modern ambiance … amenities and pampering (on a grandiose scale) … and in a rather unique fairytale setting … with open air views out over Biscayne Bay and a seemingly endless larger than Olympic sized pool… and a Brickell addess with easy access to both Miami Beach and Miami International Airport.
According to the NAR the median price Venezuelan buyers paid in 2011 was $258,300 with 12% of buyers buying homes priced over a million dollars… with 88% of Venezuelans buying in cash. Over 1/3 of the homes and condos purchased by Venezuelans were bought for personal use, with the intention of being owner occupied for 3-6 months a year.
And the statistics that apply to other foreign nationals show that the vast majority of international investors coming to Miami are buying in cash.
