Why Latin American Cash Buyers Are Powering Miami’s Ultra-Luxury Pre-Construction Market (2025)

by | Sep 8, 2025 | Luxury Properties, New Properties

Miami’s ultra-luxury condo market has entered a decisive phase: global capital—particularly from Latin America—is now the cornerstone of new-construction demand. The latest MIAMI REALTORS® collaboration across 37 projects shows international buyers purchased 49% of South Florida’s new-construction, pre-construction, and conversion condos during the 18 months ending June 2025 (data from 9,115 units). This is a structural shift that materially supports absorption at the top of the market. MIAMI REALTORS®

Just as important is the composition: ~86% of those international purchases were by Latin American buyers. In submarket detail, Downtown Miami’s international buyers were 99% Latin American; Coconut Grove 97%; Southeast Broward 84%; West Palm Beach 89%. Within Downtown, international purchasers represented 43% of all units sold during the window analyzed. Together, this paints a clear picture of who is setting the pace. MIAMI REALTORS®

A separate analysis underscores the urban-core concentration: since January 2024, nearly 80% of South Florida’s new-construction condo sales occurred in Downtown/Brickell, with foreign-buyer shares of 43% (Downtown) and 60% (Brickell). In other words, the deepest pools of global, often all-cash demand are in the city center—a key signal for long-run liquidity and pricing power in flagship towers. Homes.com

The U.S. backdrop corroborates this strength. In the year through March 2025, foreign buyers purchased 78,100 U.S. homes (+44% YoY) with a record $494,400 median price, and Florida captured 21% of all foreign transactions. Notably, 47% of those purchases were all-cash, a dynamic that compresses timelines and elevates certainty in competitive releases. Mansion Global

Why Latin American buyers favor Miami now

  • Capital preservation in USD + staged deposits. Pre-construction schedules allow deposits over time in dollars—useful for cross-border capital planning and FX management. MIAMI REALTORS®
  • Policy and currency push factors. Political shifts and weaker local currencies across parts of LATAM continue to nudge wealth toward dollar-denominated hard assets. MIAMI REALTORS® even notes, illustratively, “1 Brazilian real ≈ $0.18 USD” at the time of publication. MIAMI REALTORS®

  • A long record of appreciation. Miami-Dade condos have posted 14 consecutive years of price appreciation, reinforcing the “safe-harbor” thesis for prime product. MIAMI REALTORS®

What this means for $2M–$10M+ pre-construction

  1. Pricing power for flagships. With ~half of new-construction sales going to global buyers, best-in-class projects in Brickell, Downtown, Grove/Gables, and select beachfronts maintain leverage—especially on trophy view lines and branded-service stacks. MIAMI REALTORS®

  2. iquidity where demand concentrates. Downtown/Brickell’s ~80% share of recent new-construction sales signals deeper resale markets—vital for capital preservation. Homes.com

3. Cash reshapes negotiations. With 47% cash among international U.S. purchases, buyers can move faster, negotiate certainty, and secure best-stack selections more reliably. Mansion Global

Buyer playbook (U.S. & LATAM)

  • Move early on tier-one lines. Pre-release and contract phases reward decisiveness on exposures with moat-like desirability (unobstructed bay/ocean, corner stacks, marina adjacency). Downtown/Brickell offers depth; Grove/Gables offers velocity and lifestyle. Homes.com

  • Engineer deposits around FX. Align staged payments with capital flows and currency windows; for cross-border buyers this is a meaningful ROI lever. MIAMI REALTORS®

  • Underwrite building health. Newer systems, strong reserves, and professional management reduce long-run ownership friction—especially important at $5M–$10M+.

(See Q2-2025 market conditions in Post #2.) CondoBlackBook

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Sources & Citations