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Venezuelans Increase Miami Real Estate Searches

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venez-flagAlways an active buyer of South Florida real estate, Venezuelans are even more interested in the region’s residential offerings these days.

The Miami Association of Realtors reported more visits to its website from Venezuela than any other foreign nation in October, South Florida Business Journal reported. More than 120,000 visits came from Venezuelans, an increase of nearly 29 percent from October 2012. The next most active countries were Argentina and Canada.

With Venezuela President Nicolas Maduro restricting retail businesses and imposing stringent currency controls in the midst of heavy inflation, Venezuelans are eagerly moving their money from their home country to South Florida through real estate purchases.

 

Source: The Real Deal

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