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Colombia’s Connection to Miami


March 28, 2016

Foreign countries continue to be a major driving factor in the real estate market, and Latin American countries are among the biggest when it comes to buyers. In fact, for 17 of the last 19 months Brazil had held the top position in searches for South Florida real estate. However, Colombia is now making strong strides itself and has usurped Brazil as the top country for two straight months. This shift in position represents a strong connection between Miami and Colombia.

Although Colombia came in top place when it comes to Miami real estate searches in January, the nation actually falls down to third place in the percentage of actual South Florida home buyers, coming in behind Venezuela and Brazil.

Colombia’s connection to South Florida is also evident with the upcoming Trump International Hotel & Tower set to debut in the country’s capital city of Bogota. This building represents the third time the Trump organization has extended its efforts into South America.

Also worth nothing is the upcoming mixed-use building set to make its debut in Miami’s Edgewater neighborhood that’s being built by the development firm of Prodesa. With the firm of Arquitectonica overseeing the design, the 19-story building will comprise 372,932 square feet.
This update is presented by Miami Beach Realtor Tim Allen of Blackstone International Realty, specializing in the Portofino Tower. If you are interested in Miami Beach condos such as the Portofino Tower South Beach condos for sale, call Continuum expert Tim at 305-588-2451 for information on sales and rentals.