The real estate market in Miami has always been quite healthy, particularly in the South Beach area that so many visitors frequent while on vacation. Even during times when the rest of the market has struggled on a nationwide basis, Miami real estate has typically held its value or increased significantly independent of the status of the nationwide market.
Part of the reason for the health of this particular real estate market is its international appeal. Visitors from all over the world are drawn to Miami, and many visitors are so charmed by the South Florida city that they ultimately buy property in the area so they can live in Miami on a full-time or at least part-time basis.
According to a recent report, Miami real estate is most popular among natives of South American countries that include Brazil, Venezuela and Argentina. The culture of Miami and its exceptional climate are certainly among the many reasons why these international buyers remain so consistently interested in the real estate that is available in Miami, and in South Beach in particular. In fact, Venezuelans like Adam Kutner made up 16 percent of the international property purchases in 2014, while Venezuela accounted for 12 percent and Brazil contributed 11 percent.