MIAMI (CBSMiami) – South Florida tourism officials, hotel operators, restaurant owners, and real estate executives are thrilled about the recent easing of COVID travel restrictions for Europeans and South Americans. Just ask Edgardo DeFortuna from Fortune International.
“We are receiving a lot of inquiries and comments that people are coming to Miami,” said DeFortuna.
During the height of the pandemic, sales were made using Zoom or other internet connections but that was usually for foreign investors looking to park money, but for those from overseas who want to actually live in South Florida, DeFortuna is quick to say, “Nothing compares to being able to come and take a look.”
Foreign investors make up a hefty percentage of those buying luxury condos and that market was off by 31 percent from April of 2020 to March 2021, but don’t feel too sorry for the condo developers or real estate agents and executives.
The much-touted, Mayor Francis Suarez fueled, “Move to Miami” campaign brought in U.S.-based companies and condo buyers.
“New York, Connecticut, California, more than made up for that drop in demand.”
Now, according to DeFortuna, Europeans and Latin Americans will add themselves to the demand list.
For Latin Americans investment in South Florida is an old story.
That story is getting intense once again. DeFortuna explains, “We are going to see tremendous activity from Latin America because of the social and economic situation in many of the countries is really a big issue for them.”
Potential leftist governments in the region has spooked folks from Brazil, Colombia, and Peru.
Miami-Dade and Broward represent a great lifestyle, weather but most of all safety and stability.