Venezuelan driving the construction boom of MIami

The rise condo building in Miami is fueled primarily by the large number of buyers from Venezuela , followed by other Latin American trek The boli-bourgeois Chavez to empire

Behind the new building construction fever in the area of ​​Downtown Miami and Brickell is a key driver : the cash that comes primarily from the pocket after Venezuelans and Argentines, Mexicans and Europeans, among others , according to builders and consulted estate agents .

From a year ago , the rapid advance of dozens of works of great towers monopolizing almost all vacant lots in the area that had the banking business center and Miami is observed. Of these , about 40 condos are proposed or under construction in the Downtown Area, with approximately 12,100 new apartments .

” Venezuela is the market that is more buying in Miami ,” said Diego Ojeda , vice president of construction Rilea Group, interviewed by DAILY THE. “The reasons are mainly the state of the country, with the Venezuelan government at present , the search for security and because they want to expand their heritage ,” he added .

Rilea Group began a month ago with the construction of The Bond luxury condominium located in the heart of Brickell, and having 25% sold to Venezuelan clients . ” This percentage is very high ,” said Ojeda , considering that his company has 32 years of experience and this is the seventh tower building in Miami- and the fourth in the Brickell area .

Ojeda said that Venezuelans who buy here not only have an investment plan for later sale, but rather think of to inhabit the property they purchase, “in case they have to leave their home country.” For this reason , choose very well the location , the neighborhood , the builder , design and finishes.

Charged 50 % of the property value as a down payment , a percentage that has increased in recent years after the real estate crisis. ” Thanks to the new deposit requirement is no longer speculative , there are real people with real money. No any funding ,” said Ojeda.

The high down payment to the builder provides great security and allows the real estate market will build a solid foundation, as buyers are people who can actually afford the property, and not happening in the real estate boom, buyers arrived with credits they could never afford.

Alicia Cervera Lamadrid, managing partner of Cervera Real Estate prestigious real estate in Miami, also said that Venezuelan , along with Argentine top the list of biggest buyers of properties in the Miami area , in dialogue with DAILY THE.

other Latin American

“After Venezuelans and Argentines are also seeing many Mexicans and Europeans – all countries – they are buying ,” Cervera said. Procuring housing people from Venezuela are increased ” whenever there is a crisis in his country, and after the last presidential election ,” he said .

“They come both Chavez and anti-Chavez ,” said the expert in real estate sales , Ojeda who agreed with that are not buying to speculate , but to invest in a property , for living or when their children have to come to study or diversify their portfolios.

Venezuelans ” do not think of selling in the short term , but later they do, why they are awaiting the details, when choosing what to buy , ” said Cervera.

The Cervera Group has relations with all Latin American countries , with over 400 sales representatives worldwide and an affiliate in Venezuela .

Why Miami

The recession in Latin America makes its people increasingly look to Miami. “The city is growing every day and will always be a good escape for them. This is where your people are , is a close to their country place , is an American city yet is the capital of the Americas ,” summed Ojeda.

Those who invest in this city have a good chance of renting , and in case you want to sell, rising prices of housing and large buying interest in the area are encouraging the seller.

Realtors and builders viewed hereby noted that the construction and sales of properties in the Miami area are growing in strength and stability , so it is expected to continue all ” smooth sailing ” for the sector.

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