International buyers purchased 49% of new South Florida construction, pre-construction and condo conversion sales over an 18-month period ending in June, according to a data report released by Miami Realtors.
Roughly 86% of the global sales of South Florida new construction properties were made by Latin Americans. Nearly all the international buyers were Latin Americans in the Downtown Miami (99%), Southeast Broward (84%), Coconut Grove (97%) and West Palm Beach (89%) submarkets. The data report attributed the dominance of these buyers to their apprehension over the left-leaning governments in Latin America, noting that economic and political instability overseas historically fueled increased real estate investment in Miami.
As for the 51% of domestic buyers focused on South Florida, the report found they mostly came from “high-taxed, high-density states such as California, New York and New Jersey.”
“Miami has earned its place on the global stage, not just as a lifestyle destination, but as a value driven investment city compared to international metros like London, Dubai or São Paulo,” Miami Realtors 2025 Chairman of the Board Eddie Blanco said. “Miami offers world-class amenities at a global discount.”
The new data was aggregated from 9,115 units in 37 new construction condominium projects in the Miami market area. Miami Realtors collaborated with Cervera Real Estate, ISG World, PMG, Serhant. New Development and One Sotheby’s International Realty for the report.
