Miami: favorable real estate market for foreign investment


Dec 23, 2020

An analysis of the real estate market in South Florida, current trends in the  real estate sector and business opportunities for foreigners, was recently presented at a conference entitled "Florida Real Estate Investments for Foreign Nationals", organized by the Chamber of Interamerican Commerce USA - Mexico in Miami .

The event held at the offices of the renowned international law firm Greenberg Traurig in Miami and sponsored by the HSBC bank and Inmobiliare , addressed crucial issues such as the particularities and inflections of the real estate industry in Miami, as well as the different financing options, requirements legal and tax for foreign entrepreneurs and buyers who wish to invest in real estate in the United States , particularly in Florida.

The panel was composed of four prestigious specialists from the real estate , banking and legal sectors ; Mr. Andrés Aguilar, HSBC's principal mortgage consultant; Mr. Gonzalo Cortabarria, partner of the firm Exan Capital; Mr. Carles Farre, International Tax Specialist at KPMG LLP; and Mr. Michael Maxwell, partner and director of real estate developers and consulting Maxwell + Partners.

During the conference, panelists discussed the remarkable investment potential in Miami at a time when the availability of vacant real estate is low and demand is increasing, investments in commercial and industrial properties are growing and the demographics of the city are also rising. keep going. “Although the general appreciation is that the pace of new construction development in Miami has slowed and the market tries to absorb what has been built in the last three years, there is great opportunity in condominiums and multi-family properties, the population of the city is growing and market studies are optimistic about its health, "said Michael Maxwell.

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Miami is evolving towards a more urban city with a lifestyle similar to that of the great metropolises of the United States where buildings and multipurpose real estate complexes are a trend, something that is familiar to Latin Americans, especially Mexico. An example of this gradual transformation is the newly opened Brickell City Center , a large-scale complex where commercial spaces, offices, residences and a hotel converge, all in the heart of the city's financial district, which gives new meaning to the experience of coexistence in a city area with a high population density. "Most foreign investorsto whom we offer consulting services show interest in investment properties, such as commercial spaces and multi-family buildings. They look for long-term investments, because they see the progressive potential of the city ”, assured Maxwell.

To the favorable economic and demographic growth of the city are added the benefits of the new Tax Law recently put into effect in the United States and Florida, which has had a great influence on the migration of multinational companies that are relocating to the south of the state. . The effect has also attracted individual investors who, although they do not have a credit history in the country, can make use of the various financing options offered by banks and other financial companies, with competitive loans for the purchase of second homes and properties for commercial use. , thus facilitating the investment process.

From left to right Mr. Gonzalo Cortabarria, Partner, Exan Capital Mr. Michael Maxwell, Managing Partner, Maxwell + Partners Antonio Peña, Shareholder, Greenberg Traurig, PA and President United States – Mexico Chamber of Commerce, Inter-American Chapter Mrs. Danielle Gonzalez, Shareholder, Greenberg Traurig, PA Mr. Andres Aguilar, Premier Mortgage Consultant, HSBC Carles Farre, Principal, International Tax, KPMG LLP


Andrés Aguilar, principal mortgage consultant for  HSBC Bank , explained the different financing options that the entity offers. “Usually to make a loan our bank requires between 25% and 35% down payment. Loans to foreigners are available for the purchase of residential or commercial real estate in the United States, and the down payment is almost always 25% for the purchase of second homes and 35% for investment properties. We offer very competitive interest rates, ranging from 4% to 5.5%, and we also offer fixed interest rates ”.

The most recent survey by the National Association of Realtors  in the United States showed that Mexico is among the top positions on the list of nations with the highest number of investments in real estate during 2017. In Florida, Mexico ranks 10th in the rankings. foreign capital transactions in the purchase of real estate. In the past year alone, Mexican citizens invested US $ 284 million in properties in Florida, about 4% of total foreign investment in the region, according to the Miami Realtors Association.



Miami: favorable real estate market for foreign investment


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