For several years now, Miami has been seeing many Brazilian investors wishing to set up in the magic city. They come with a pragmatic vision of investment, or for fear of the political, economic and financial instability of Brazil, accentuated by the dismissal of President Dilma Roussef.
The main reasons to invest in Miami are changing
According to market experts, the reasons to invest in Miami today are not the same as 2 years ago.
According to Fernando Bergallo, owner of the foreign exchange brokerage firm FB Capital, based in São Paulo: "There is no doubt that the buying motives of Brazilian investors in Miami have changed in the last 2 years. The person who was investing in Sunny Isles Beach in 2011 was doing it because the price was interesting. Now prices are higher, our currency is weaker, and they are still buying but for other reasons than immediate profitability. They have a long-term vision with the objective of coming to install and prepare their departure from Brazil. "
The Brazilian situation still fragile
In Brazil, the economic, financial and political situation is very unstable. A report of the Brazilian Senate published on August 2, 2016 confirms accusations of makeup of public accounts by the former president to promote his reelection in 2014. It is therefore the vice president Michel Temer who takes the lead of the country until the end of the supposed term of Dilma Roussef.
Various investment sectors are targeted
The investment sectors attracting Brazilians to Miami are diverse: residential real estate first, including new construction projects that flourish in the city and its surroundings. Commercial real estate also, and businesses that represent an effective way to gain a foothold, get a visa and make a profit.
Many companies are created to promote the exchange between the 1st economy of South America and the 1st city of Florida. Marcio Kogut, a 43-year-old Brazilian, has been investing in Miami since 2013. He recently created a new startup called 20startups.com, whose goal is to connect Brazilian startups and investment funds in the United States.
Brazilian investments in Miami are not ready to stop, which provides additional stability to the local real estate market for the coming years.
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