The city of Miami has numerous attractions for Latino investors. Its tropical climate, the shopping malls, the great variety of commercial premises, the nightlife and the possibility of meeting someone who speaks Spanish are some of the reasons, but there are many more.
Latinos invest in Miami mainly to protect their wealth, obtain profitability in dollars, especially in these times when Latin American currencies suffer constant devaluations, and diversify their business portfolio by buying and renting apartments, creating businesses, acquiring franchises or flipping.
As an added benefit, their investments allow them to live legally in the United States through the different types of visas that the North American government grants to investors who invest in the country.
The main countries where the investments in the city of Miami come from are: Brazil, Mexico, Argentina, Colombia, Chile and Venezuela.
Currently, there are banks and equity brokers that provide loans to foreign investors who buy well-located commercial or residential properties occupied by tenants with good financial backing.
Access to financing allows Latin Americans to acquire properties in Miami by paying advances of between 30-50% at the time of purchase and financing the remaining amount.
Another factor, which promotes investment, is that the average interest rates for mortgage loans for foreigners range between 4.5 and 7.5 percent and are generally below the rates offered by Banks in Latin America.
The preferred areas chosen by Latino investors are located primarily in Miami Dade County. In this county, cities such as Aventura, Bal Harbor, Brickell, Coral Gables, Doral, Design District, Downtown Miami, Edgewater, Miami Beach, North Miami Beach, South Miami Beach and Sunny Isles Beach stand out. Broward County also attracts investors from across the Latin American region, especially the cities of Hollywood and Hallandale.
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