On August 13, the Financial Times of London posted a video titled Foreign Buyers Flock to Miami. EWM’s Ron Shuffield and Carole Smith were featured in the story, which highlighted the following:
- 2011 was a record year for the number of sales of single family homes and condos
- Majority of foreign buyers are from Venezuela, Brazil and Argentina
- 2011 60 % of sales from foreign buyers and 90% of them paid cash
- 2012 sales jumped 20% in first 1/2 of year.
- 65% of June 2012 sales were cash sales 90% of the sales were to foreign buyers
- Sunshine, multiculturalism and global access are features that make Miami so attractive to buyers