Miami’s new development market remains one of the most internationally active real estate markets in the world. According to prnewswire.com, a recently released international report shows that just over half of all new construction, pre-construction, and condo conversion sales in South Florida over the past two years were made by global buyers. Investors from more than 70 countries have purchased properties across the region, reinforcing Miami’s reputation as a true global real estate hub.

As a Miami real estate professional, Alex Algarin is keeping you informed with the real estate news that continues to shape South Florida’s fast-moving property market.

International Buyers Now Represent the Majority of New Construction Sales

Earlier reports showed international buyers making up just under half of Miami’s new construction sales. The updated data now reflects a clear increase, with slightly more than 50% of all new development purchases tied to overseas buyers. This steady rise highlights Miami’s growing appeal as both a lifestyle destination and a long-term investment market.

Countries Driving the Most Demand (Approximate Breakdown)

The largest concentration of international buyers continues to come from Latin America and select European markets, with Colombia and Mexico together representing nearly half of all foreign purchases. Argentina and Brazil each account for roughly a tenth of international demand, while countries such as Turkey, Peru, and Spain contribute smaller but consistent shares. Italy, Canada, and Ecuador round out the top group of overseas buyers. This broad geographic mix highlights the depth and diversity of Miami’s international real estate reach and reinforces its position as one of the most globally connected property markets in the world.

Why Global Buyers Continue Choosing Miami

Several long-term trends continue to drive international demand:

• Political and economic uncertainty in many overseas markets
• Desire to hold assets in U.S. dollars
• Strong rental income potential
• Long-term appreciation in new construction condos
• Secure ownership environment

National housing data shows that international buyers invested tens of billions of dollars into U.S. real estate over the past year, with Florida holding the top position for global buyer activity year after year. Nearly half of Florida’s international purchases continue to occur in South Florida alone, led by Miami-Dade County.

US Domestic Buyers Still Play a Major Role

Even with the surge in international demand, domestic buyers still account for nearly half of Miami’s new construction activity. Many new residents continue relocating from higher-tax, higher-cost states such as California, New York, and New Jersey. Driver license exchanges from out-of-state remain well above pre-pandemic levels, signaling that migration to Miami is still very active.

The appeal is easy to understand:

• No state income tax
• Business-friendly regulations
• Growing tech and finance sectors
• Year-round warm weather
• Expanding luxury development pipeline

Miami’s Rising Status Among the World’s Wealthiest

Recent global wealth reports place Miami among the top cities worldwide for ultra-wealthy residents and second-home buyers. The city consistently ranks near the top for luxury demand, yet remains more affordable than many global rivals.

For approximately the same budget, buyers can typically secure significantly more prime property in Miami than in places like New York, London, or Monaco, making South Florida especially attractive to international investors seeking both lifestyle and value.

Latin America Continues to Lead International Investment

A large majority of Miami’s international new construction buyers continue to originate from Latin America. In areas such as Miami Beach, Brickell, Coral Gables, and West Palm Beach, Latin American buyers often represent well over three-quarters of all foreign purchases.

Because many of these buyers pay primarily in cash, rising mortgage rates in the U.S. have had little effect on their purchasing power. Many investors prefer pre-construction because they can secure today’s pricing while spreading payments over time in a stable currency.

What This Means for Miami Real Estate Moving Forward

The data clearly shows that Miami’s momentum is not slowing. Miami remains one of the few markets in the world supported by:

• Strong global demand
• Steady domestic migration
• Growing wealth concentration
• Expanding luxury development
• International confidence in long-term value

Ready to Buy, Sell, or Invest in Miami?

Whether you’re exploring pre-construction opportunities, selling a luxury property, or looking to invest in Miami real estate, I’m here to help you navigate every step with confidence.

Reach out to Alex Algarin today to start your next move in South Florida real estate.

source: prnewswire.com