Surge in Global Buyers Fuels South Florida’s New Condominium Market

Introduction

South Florida’s new construction condominium market is experiencing a robust influx of global buyers. A recent report from MIAMI REALTORS® highlights that these buyers accounted for 49% of all sales in the region, marking a significant trend for both pre-construction and condo conversion projects.

Key Findings from the Report

• Sales Overview: Over an 18-month period ending June 2025, international buyers acquired 4,471 units across 37 projects in the Miami area.
• Collaborative Efforts: This extensive report was produced in partnership with several industry leaders, including Cervera Real Estate and ONE Sotheby’s International Realty, to provide detailed insights into new condo sales.

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The Dominance of International Buyers

Latin American Interest

Latin American buyers dominate the landscape, making up nearly 86% of total global sales. The statistics reveal:

• Downtown Miami: 99% of international buyers are from Latin America.
• Southeast Broward: Additionally, 84% come from this region, alongside significant representation in Coconut Grove (97%) and West Palm Beach (89%).

“Miami is as popular as ever with buyers from Latin America,” noted ISG World CEO Craig Studnicky.

Miami’s Attractive Investment Landscape

Alicia Cervera Lamadrid, managing partner of Cervera Real Estate, emphasized, “Foreign buyers have not only remained active in Miami’s new development market — they’ve increased their presence.” This highlights Miami’s ongoing appeal for international investment amid shifting global dynamics.

The Miami market continues to provide:

• No state income tax
• A business-friendly environment
• Year-round favorable weather
• An evolving fintech hub

Domestic Buyers Join the Ranks

Domestic buyers also play a vital role, making up 51% of new construction condo purchases in South Florida. Many are relocating from high-tax states such as California and New York, contributing to a notable increase in license swaps — up 22% over pre-pandemic levels.

Data Supporting Continued Growth

• The 2025 National Association of REALTORS® report indicated that global buyers spent $56 billion on existing U.S. homes — a 33.2% increase from the previous year.
• Reports show that Florida consistently ranks as the top destination for international buyers, with Miami topping the charts for international homebuyer interest in Q1 2025.

Miami’s Price Advantages

According to the 2025 Knight Frank Wealth Report, Miami remains a competitive market for luxury properties. For $1 million, buyers can acquire 58 square meters of prime property, far exceeding what is available in cities like London, New York, or Monaco.

“Miami offers world-class amenities at a global discount,” commented Eddie Blanco, Chair of the MIAMI REALTORS® 2025 Board.

Political and Economic Factors

Recent political turbulence in Latin America has historically encouraged investment in Miami. As left-leaning governments have emerged in countries like:

• Mexico (Claudia Sheinbaum)
• Brazil (Luiz Inácio Lula da Silva)
• Colombia (Gustavo Petro)

This situation has led many buyers to seek refuge in South Florida, viewing it as a safe haven for wealth accumulation and family stability.

The Cash Advantage

Most international buyers, particularly from Latin America, are utilizing all-cash offers, creating less sensitivity to high mortgage rates. With weaker local currencies, investing in U.S. properties offers security and stability for many families.

Conclusion

The unique blend of domestic and international demand bolsters Miami’s real estate market, revealing a trend of sustained growth. The collaboration between MIAMI REALTORS® and developers is unprecedented and reflects the joint effort to harness the full potential of the market. Future participation in this cooperative reporting could provide enhanced insights into ongoing industry dynamics.

For developers interested in contributing to ongoing market reports, please contact MIAMI REALTORS®.

This article serves as an informative resource regarding the vibrant South Florida real estate climate, showcasing how global interests continue to shape the market’s future.

For further elaboration on South Florida real estate dynamics, visit Miami REALTORS®.