Miami real estate has long led the nation in international investment, thanks to its global profile, warm climate, multiculturalism and business friendly environment. Recently, short-term rentals have taken off there due to their ease of ownership and ability to generate income while their owners are in their home countries.
South Florida Agent recently spoke with one of Miami’s biggest developers, Fortune International President and CEO Edgardo Defortuna, about the current market.
Why does Miami remain such an attractive U.S. market for foreign buyers?
It’s really a blend of the lifestyle, economic opportunity and cultural diversity. With year-round warm weather, a thriving job market and a booming economy, it continues to be an ideal place to live, work and invest.
Equally important is its connectivity and cultural openness — a city with a rich mix of cultures where people from around the world feel welcome and at home.
How have the preferences of international buyers in South Florida evolved over the past few years, and which regions are currently driving the most demand?
Over the past few years, we have seen a shift largely influenced by evolving lifestyle patterns post-pandemic. The rise of remote and hybrid work has made flexibility more essential than ever, and as international buyers travel more frequently, they are increasingly drawn to luxury short-term rental opportunities that offer both investment potential when not in use and convenience. These fully serviced, low-maintenance condominiums provide the ideal “lock-and-leave” appeal, ensuring owners can come and go from their home country without worrying about property upkeep.
At Fortune, we’ve seen this shift reflected in Nexo Residences, our short-term rental project in North Miami Beach. With buyers from over 25 countries — particularly a strong influx from Colombia and Mexico — many are drawn to the convenience of a dedicated property management team handling everything from maintenance to cleaning while they’re away.
What are the biggest obstacles international buyers face when purchasing real estate in the U.S., and how can agents help navigate these challenges?
One of the biggest challenges international buyers face when purchasing real estate in the U.S. is navigating the financial and regulatory landscape, from financing and taxation to legal requirements. Agents play a critical role by providing expert guidance at every stage of the process. A well-connected agent can introduce buyers to trusted legal and financial advisors who specialize in cross-border transactions, ensuring compliance with U.S. regulations and structuring purchases in a way that aligns with the buyer’s financial goals. Educating clients on market trends, local real estate laws and investment strategies also helps them make informed decisions. At Fortune International Group, we’ve built a strong network of professionals who streamline the buying process for international clients, making it as seamless and transparent as possible.
Given Fortune International Group’s expertise, what international markets do you see as the biggest opportunities for U.S. agents looking to expand their business globally?
Latin America continues to be the strongest source of international buyers for South Florida. Markets like Mexico, Colombia, Argentina and Brazil present significant opportunities, with buyers seeking both primary and secondary residences that offer stability and long-term value.
What strategies have been most effective in attracting and closing deals with high-net-worth international buyers, and how can agents differentiate themselves in this competitive space?
Successfully attracting and closing deals with high-net-worth international buyers requires a strategic, on-the-ground presence in key foreign markets. Being at industry events, hosting presentations and fostering relationships in these regions are essential. Buyers want to engage with professionals who understand their unique needs and can offer opportunities that align with their lifestyle and investment goals.
For example, our sales team representing ELLE Residences Miami, another project seeing great demand from international buyers, recently attended an event in Mexico during ZonaMaco, capitalizing on the influx of affluent buyers in the city for the event. In a competitive market, it’s about being in the right place at the right time, building trust through direct engagement, and, most importantly, offering the ideal product that meets their expectations.
Given the importance of foreign investment in South Florida real estate, how does it influence the types of properties developers choose to build (ex. EB-5 designated projects)?
Miami remains a top choice for affluent foreign buyers from countries facing political and financial instability who are looking to relocate, fueling demand for secure and efficient permanent residency pathways, such as EB-5 investments. So, in response, developers have increasingly incorporated EB-5 opportunities into their projects. At Nexo, we combined two key drivers for international buyers — short-term rental flexibility and EB-5 designation — resulting in great success in the international market.