The most exclusive beachfront homes in Miami Beach, USA, are selling for up to US$50million, says agent Engel & Völkers and Latin Americans are among the region’s most active property investors
Prime property in Miami Beach is fetching up to US$50million, says an international agent.
Overseas buyers from Latin America, who are looking for secure investments are most active, says the Engel & Völkers agency.
Thanks to rising prices and sales, Engel & Völkers in Miami had a record financial year. The E&V Shops in Miami Bal Harbour, Miami Beach, Miami Brickell and Miami Key Biscayne secured sales worth US$300million, up 150% on the US$120million in 2012.
Oliver Ruiz, Managing Partner at all four shops, explains, “The property market in Florida and in the USA as a whole has recovered considerably from the financial crisis. At the same time, the upturn on the market in Miami has been even faster and stronger than on most other US submarkets.”
The most striking sign indicative of the market’s stability in Miami is the consistently high level of international demand, with most foreign investors being cash buyers.
The market for premium residential property in Miami is dominated by buyers from Latin America, and by Venezuelans and Brazilians in particular. …read more