Latin American Wealth Fuels Nearly 50% of New Condo Sales in Miami

Key Points

• 49% of new South Florida condos sold went to international buyers, with 86% of those from Latin America (Brazil, Colombia, Mexico, Argentina) over the 18 months ending June 2025.

• Downtown Miami and Coconut Grove saw especially high shares—virtually all international buyers there were Latin American (99% and 97%, respectively).

• Latin American capital surges amid regional economic and political instability, driving investors to dollar‑assets like pre‑construction condos.

Miami’s new‑construction condo market is being quietly dominated by one international player: Latin American buyers. Despite narratives of cooling global demand, recent data shows nearly half of all pre‑construction and condo conversion sales in South Florida have been snapped up by foreign buyers—most of them from Latin America, as reported by the Miami Herald.

Latin America as the Backbone of Miami's Condo Market

Foreign Buyer Share Rising

• MIAMI REALTORS® and partners captured data on 9,115 units sold across 37 new condo projects in Miami-Dade, Broward, and Palm Beach.

• 49% went to international buyers, with the remainder held by domestic buyers—mostly relocating from states like California, New York, and New Jersey.

• Of those international buyers, 86% were Latin American, indicating strategic capital flows northward.

Hot ZIP Codes for Latin Money

• Downtown Miami: 43% of units sold were international, and 99% of those were Latin American buyers.

• Brickell: 60% of units sold were international; 79% of those were from Latin America. Other hotspots like Coconut Grove, Coral Gables, North Miami, and Southeast Broward registered similarly skewed figures (84–97%).

Why Latin Buyers Prefer Miami’s Pre‑Construction Market

Political and Economic Drivers

• Left‑leaning political shifts and inflation across Latin America—Mexico, Brazil, Chile, Colombia, Peru—are prompting wealthy investors to move capital to Miami as a stable investment haven.

• Miami offers property rights protection, dollar‑denominated value, and low taxes, appealing to investors seeking preservation of capital.

Cash-Ready Capital Advantage

• Latin American buyers often pay 100% in cash, bypassing mortgage sensitivity and escaping rising interest rates.

• Flexible pre‑construction payment schedules help them move money over time and lock in assets before further price appreciation.

Developer Strategy & Broker Tactics

• Developers and brokerages like Cervera Real Estate and ISG World focus marketing and sales teams in Latin America, often hosting events like expos in Bogotá, Mexico City, and Buenos Aires.

• Financing alternatives like private offshore mortgages (e.g. Vaster) cater to Latin American investors who prefer relationship-based models over traditional banking.

• Pre‑construction offerings remain a strong draw as they let buyers leverage time‑based deposits to spread dollar‑asset transfers.

Domestic Buyers Also Rising, but Face Affordability Gap

• U.S. domestic buyers make up 51% of new‑construction sales, especially from high‑tax states seeking better financial footing in Florida.

• Still, burgeoning pre‑construction pricing and Latin buyer bidding make entry difficult for middle-tier domestic buyers.

• A broader market slowdown has impacted older condos and middle-market segments, while luxury, high-end new developments continue to attract elite buyers and cash-heavy investors.

Latin American investors are not just players—they are driving forces shaping the future of Miami’s new‑construction condo market. With volatile politics at home, a strong dollar‑ U.S. legal structure, and flexible capitalization models, Latin capital continues to fuel luxury development and pre‑construction demand. While domestic buyers form the majority, they face headwinds from affordability and pricing trends.

Investors and developers should keep Latin America in their crosshairs—both as a client base and indicator of long‑term demand.