Friday, November 18, 2011

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South Americans Surge Florida Real Estate Market

Recent studies have shown that Florida’s real estate market is continuing its upward path in part by attracting South American international investors. The Brazilian real holds a 45 percent gain against the U.S. dollar and is continuing to drive South and Central Florida’s real estate markets to new heights. Recent oil discoveries off the coast of Brazil have spiked real estate prices in those South American regions which are nearest to this discovery. Both of these forces are driving investors and buyers to Florida beach cities like Miami and greater Tampa Bay.


While Miami may be the most culturally diverse city in Florida, Tampa bay is not far behind. The Hispanic population in Tampa Bay is the second largest ethnic group and the South American presence in the Tampa Bay area is very obvious. The abundance of waterfront and beach properties that Tampa Bay offers attracts those international investors and buyers; mainly because it’s what they are accustomed to in South America, but also those who are looking for homes, condos, town homes, and properties at better prices. Tampa Bay also stands out to the South American crowd, not only due to sub-tropical climates, but also offers reduced prices on consumer goods that are more expensive in countries like Brazil for example. The Tampa Bay real estate market and lifestyle also stands out to international investors and buyers due to an abundance of malls and shopping centers. Internationals can purchase designer goods and products at cheaper prices than they may be accustomed to. The owner of Algebra Realty in Miami, Jose Augusto Pereira Nunes, sums it up best by saying, “the tide and winds are in their (South Americans) favor, the exchange rate being the tide and prices here being the winds.”

If you or anyone you know is interested in learning more about the Tampa real estate market please contact SI Real Estate at 813.631.5144 or email us at Yourhome@SIRealEstateInvestments.com.