Florida city heating up with global demand -- with foreigners buying 52% of new-construction homes there

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Florida city heating up with global demand -- with foreigners buying 52% of new-construction homes there
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An Afghan national posted his plot to turn his vehicle into a bomb on TikTok and Facebook this news coming on the heels of the attack of two National Guard troops in DC and the President's pause on immigration from Afghanistan.

Miami ’s pipeline of new condos and luxury towers is being snapped up by overseas buyers at a pace not seen before. from the Miami Association of Realtors finds that international purchasers now account for 52% of all new-construction sales across South Florida over the past 22 months — a shift that confirms what developers have been seeing on the ground for months.

A fresh analysis from the Miami Association of Realtors shows foreign buyers now make up more than half of all new-construction sales in South Florida over the last two years, with closings coming from 73 countries.Colombia, Mexico and Argentina lead the pack, a trend brokers say reflects both political uncertainty abroad and the continued draw of Miami as a safe place to park capital.Here's how to protect your home from bomb cyclone as Northeast bracing for 3rd winter storm within a weekThe city now ranks No. 4 worldwide for ultra-rich residents and No. 1 for second-home ownership among the world’s wealthiest — a sign that Miami has moved firmly into the top tier of global playgrounds for high-net-worth households.And it’s not just a trickle from abroad — Latin America alone accounts for 86% of international purchases, led by Colombia, Mexico and Argentina.Miami’s global rise is showing up elsewhere, too: the city is now No. 4 worldwide for ultra-wealthy residents and No. 1 on the planet for second-home ownership among ultra-high-net-worth buyers.Despite higher borrowing costs and rising insurance premiums, Miami still offers buyers more space for the money than many rival markets. A $1 million budget buys almost four times as much prime real estate as Monaco, and considerably more than in New York or London, giving Miami a clear value edge even at today’s prices.Even with high rates and insurance costs, Miami still delivers unmatched value — $1 million buys nearly four times more prime space than Monaco, and more than New York or London.The kicker: most foreign buyers are paying cash, making them one of the most stable forces in the market right now.And cash remains king. Most international buyers are closing without financing, a factor that continues to stabilize the market and keep new-development deals moving even as interest rates fluctuate. Suzy Welch -- widow of GE CEO Jack Welch -- wants $26M for her NYC mansion with a massive garden Here's how to protect your home from bomb cyclone as Northeast bracing for 3rd winter storm within a weekKing Charles’ goddaughter India Hicks diagnosed with a ‘worryingly fast-moving’ skin cancerAfghani in Texas nabbed for plotting to blow up Americans, how President Trump spends 12-hour work days A fresh analysis from the Miami Association of Realtors shows foreign buyers now make up more than half of all new-construction sales in South Florida over the last two years, with closings coming from 73 countries.And it's not just a trickle from abroad -- Latin America alone accounts for 86% of international purchases, led by Colombia, Mexico and Argentina.Miami's global rise is showing up elsewhere, too: the city is now No. 4 worldwide for ultra-wealthy residents and No. 1 on the planet for second-home ownership among ultra-high-net-worth buyers.Even with high rates and insurance costs, Miami still delivers unmatched value -- $1 million buys nearly four times more prime space than Monaco, and more than New York or London.The kicker: most foreign buyers are paying cash, making them one of the most stable forces in the market right now.

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