Inventory remains tight, but it could get tighter if more buyers arrive. Some agents say they’re already getting calls from returning international buyers.

MIAMI – Real estate agents are bracing for a wave of international buyers to flood the housing market as a result of the Biden administration easing pandemic-related travel restrictions. Foreign buyers make up about 5% of the dollar volume of sales in the state, and observers expect that with travel restrictions lifted, many will be making their way to buy a home or condo.

Most foreign buyers looking to purchase properties come from five countries: Canada, Argentina, Brazil, Colombia and Venezuela, according to a report. 

Real estate agents and brokers have already begun to get calls from these international buyers. 

“It’s hard to generalize, but mainly the foreign buyer tends to go towards condos because of the convenience.” 

 

 

Source: Tribune News Service (11/14/21)