Posts
J.Gittelsohn, J.Sergio Osse / Long Feature
Surging real estate prices in Brasil...plus the REAL's 45% gain vs usd since 2008... has Brasilians flocking to Miami searching for vacation home and investment "bargains".
Home prices in Brasil rose by 25%...during the 12 months through May... with Rio prices up a shocking 44%!
“Five years ago, it was the other way around,” said a realtor. “Miami was trading for $500 to $1,000 a foot. Rio was trading for $300 to $500. It has absolutely switched.”
“Everybody who makes a little money buys in Florida,” said an investor. “Some came to buy a vacation home. Some are buying 10 units for an investment. They’re buying because the only way prices can go is up. They’re betting on Florida.”
