Brazilians Returning to Miami to Buy
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Every July for the last decade or so, powerbrokers in the Miami luxury real estate market had looked forward to the arrival of wealthy Brazilians who are weary of winter weather and decide instead to visit the Florida city for a few weeks of sun and fun. The hope is that these vacationing Brazilians will buy some high-end real estate while enjoying Miami’s terrific shopping, nightlife and sandy beaches.
But because of a poor local economy and ongoing anxiety about political turmoil at home, they mostly stayed away for the last couple of summers, experts say. This year, though, all signs are pointing to a return of the Brazilians.
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