Latin American buyers dominate Miami’s new construction market | Real Estate

Latin Americans are certainly becoming even more neighborly in the Miami area, as well as many cities throughout South Florida.

Earlier this summer, the MIAMI Association of Realtors reported that Latin Americans are still the leading buyers of new construction in Miami, indicating they accounted for 86% of international buyers who purchased new properties in South Florida during an 18-month span ending in June, and a whopping 99% moved into new properties in Downtown Miami.

Experts point to global uncertainty and political turmoil in other countries, while the allure of new properties comes with amenities like pools, gyms and dog parks, and with less maintenance issues, given the implementation of new building safety regulations, inspections and preventive upkeep that require higher fees.

“Miami has earned its place on the global stage, not just as a lifestyle destination, but as a value driven investment city compared to international metros like London, Dubai or São Paulo,” said Eddie Blanco, MIAMI REALTORS’ 2025 Chairman of the Board, in the report. “Miami offers world-class amenities at a global discount.”

Latin Americans comprised 97% of the new construction buyers in Coconut Grove, 88% in Coral Gables, 79% in Brickell, and 77% in Miami Beach. Other areas noted included West Palm Beach (89%), Southeast Broward (84%) and Fort Lauderdale (79%).

It will be interesting to see if David Martin’s new luxury condo coming to Key Biscayne will follow a similar pattern.

Not only does Miami offer an enticing, similar Latin flair as its backdrop, but a significant portion of international buyers pay in cash, insulating them from high mortgage rates and making their investments less vulnerable.

According to the report, international buyers purchased 49% of new South Florida construction, pre-construction and condo conversion sales over an 18-month period ending in June 2025, according to data aggregated from 9,115 units in 37 new construction condominium projects in the Miami market area.

MIAMI REALTORS collaborated with Cervera Real Estate, ISG World, PMG, SERHANT. New Development and ONE Sotheby’s International Realty for the report.

Miami ranked No. 1 in the entire U.S. market for international buyers during the first quarter of 2025, according to a Realtor.com report.

The new data also correlates with other new global buyer/migration reports:

• Global buyers purchased $56 billion worth of U.S. existing homes from April 2024 through March 2025, a 33.2 % increase from the previous 12-month period via the 2025 National Association of REALTORS® report.

• For the 16th consecutive year (every year the study has been conducted), Florida is the top U.S. destination for global buyer purchases via the 2025 NAR Report.

• Nearly half of Florida’s international purchases take place in South Florida via the Florida REALTORS® report.