South Americans Surge Florida Real Estate Market

Recent studies have shown that Florida’s real estate market is continuing its upward path in part by attracting South American international investors. The Brazilian real holds a 45 percent gain against the U.S. dollar and is continuing to drive South and Central Florida’s real estate markets to new heights. Recent oil discoveries off the coast of Brazil have spiked real estate prices in those South American regions which are nearest to this discovery. Both of these forces are driving investors and buyers to Florida beach cities like Miami and greater Tampa Bay.


While Miami may be the most culturally diverse city in Florida, Tampa bay is not far behind. The Hispanic population in Tampa Bay is the second largest ethnic group and the South American presence in the Tampa Bay area is very obvious. The abundance of waterfront and beach properties that Tampa Bay offers attracts those international investors and buyers; mainly because it’s what they are accustomed to in South America, but also those who are looking for homes, condos, town homes, and properties at better prices. Tampa Bay also stands out to the South American crowd, not only due to sub-tropical climates, but also offers reduced prices on consumer goods that are more expensive in countries like Brazil for example. The Tampa Bay real estate market and lifestyle also stands out to international investors and buyers due to an abundance of malls and shopping centers. Internationals can purchase designer goods and products at cheaper prices than they may be accustomed to. The owner of Algebra Realty in Miami, Jose Augusto Pereira Nunes, sums it up best by saying, “the tide and winds are in their (South Americans) favor, the exchange rate being the tide and prices here being the winds.”

If you or anyone you know is interested in learning more about the Tampa real estate market please contact SI Real Estate at 813.631.5144 or email us at Yourhome@SIRealEstateInvestments.com.

Read More

Tampa Bay Real Estate Market in 2010 The Year in Retrospect

This has been an exciting year in the real estate market in Tampa, Florida. The real estate market moved at a fast pace in the first half of the year when the federal government decided to extend the 2009 Homebuyer Tax Credit. Originally, the tax credit was to end on November 30, 2009. However, the 2009 First Time Home Buyer Tax Credit was extended so that those with a binding contract on or before April 30, 2010 and closing on or before June 30, 2010 would be able to take advantage of this fantastic opportunity to become a homeowner. This fueled the real estate market in a big way.


Another major force in the real estate market this year has been the abundance of REOs (bank owned) properties that were for sale on the market. These properties sold just about as quickly as they were listed. Not only did they sell quickly, but they received multiple offers which caused an interesting bidding situation for all involved parties. This resulted in a serious reduction in the housing inventory which has been important to bringing pricing stability to the real estate market.

One cannot look at the past year without mentioning the force and affect of foreign investors on our market. International investors swarmed to buy properties in Florida and across the nation. The bloated inventory of homes combined with high unemployment and a weak currency created an incredibly attractive buyer’s market for the savvy international investor. Rather than investing in the stock market, many international investors purchased property and reaped immediate financial rewards for doing so.

Several factors have been at play in the real estate market in 2010. Tax incentives for first time home buyers and move-up/repeat home buyers, record high affordability in housing prices, near record low mortgage interest rates, and an influx of foreign investors, all combined have been and will continue to be critical to the housing and overall economic recovery.

SI Real Estate has had a fantastic year in 2010 and is excited about the upcoming year and opportunities in the real estate market. Are you interested in getting a piece of the real estate action? Give us a call at (813) 631-5144 any time.

Read More