For months I have been telling you about how Brazilian nationals have been spurring activity on the South Florida real estate market by investing in South Florida homes for sale.
Now it appears that another group of foreign nationals are finding South Florida real estate increasingly attractive: Mexicans.
According to a recent article in the Miami Herald, Mexicans find that South Florida is a safe place to invest their money outside of their home country, where violence has steadily increased over the years.
South Florida Real Estate Market Attracting International Buyers
While Mexican nationals have historically invested in properties in border cities such as El Paso and San Diego, an increasing number of Mexicans are investing in South Florida, specifically Miami.
By some estimate, Mexican investors have invested about $30 million in the South Florida real estate.
And according to the Commerce Department’s international trade administration, Mexicans made a direct investment of $31 billion in the United States in 2008.
Most experts attribute the surge in Mexican nationals investing in the United States to the violence that is occurring across the border.
Since the Mexican president Felipe Calderon launched a war on drug cartels in late 2006, more than 40,000 Mexicans have been killed in the fighting.
Consequently, the United States has issued an increasing number of visas to Mexicans. Between 2007 and 2009, the number of visas for Mexican investors grew from 15,000 to 21,000.
In 2009, about 250 Mexicans were granted asylum in the United States.
Purchasing a South Florida Home for Sale
As a South Florida real estate expert, I have years of experience working with international buyers.
Until next time,