Venezuelan interest in Miami real estate spikes online
South Florida Business Journal
Venezuela was the top source of foreign web traffic in October to the Miami Association of Realtors website, miamire.com.
The site hosted 120,088 visits by people interested in Miami real estate, up 28.8 percent from a year ago. While Brazil was the top country of searchers a year ago, Venezuela has been appearing at the top of the list this year. In October, Venezuela was followed by Argentina and then Canada.
That shouldn’t be surprising as Venezuela President Nicolas Maduro’s crackdown on retail businesses and tight currency controls amid rapid inflation have given many Venezuelans reason to move their money out of the country.
“The strong interest in the Miami website by Venezuela is consistent with the research showing that Venezuelans are the leading buyers of real estate in South Florida,” said Miami Association of Realtors Residential President Fernando I. Martinez stated in a news release.
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