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Miami’s Colombia Connection


March 24, 2016

Colombia has been making the news quite often thanks to its many buyers seeking to purchase South Florida real estate. In fact, for the second straight month in a row the South American country managed to trump Brazil as the nation with the largest amount of buyers for South Florida real estate, per the Miami Association of Realtors. With Colombia’s increased presence, let’s take a look at how Miami and Colombia real estate are connected.

Although Colombia came in third in South Florida real estate searches, it’s tied with Argentina in terms of the percentage of people that actually purchased South Florida homes. Brazil came in second place with Venezuela being number one. Last year, Miami’s foreign real estate transactions by Colombians stood at ten percent.

Colombia is also seeing the development of a brand new Trump International Hotel & Tower in its capital city of Bogota. It will be the Trump organization’s third such building in all of South America and its building cost is $350 million.

There are also plans by the Colombian development form of Prodesa to build a mixed-use project within Miami’s neighborhood of Edgewater, not far from the Paraiso condo by the Related Group. The Prodesa project will comprise 372,932 square feet.
This update is presented by Miami Beach Realtor Tim Allen of Blackstone International Realty, specializing in Continuum South Beach. If you are interested in Miami Beach condos such as the Continuum condos for sale, call Continuum expert Tim at 305-588-2451 for information on sales and rentals.