International real estate is booming in the Miami, Florida, real estate market.
Miami has long been a hotspot for international real estate, attracting buyers and investors worldwide. With its beautiful beaches, pleasant weather, and business-friendly atmosphere, it’s no surprise that Miami appeals to foreign nationals looking to purchase property in the United States.
For those looking to invest in property, whether for personal use, as a vacation home, or as a financial investment, many wonder if non-US citizens can buy real estate in Miami. The answer is yes, but with some new regulations to be aware of.
Can Non-US Citizens Buy Property in Miami?
Yes, non-US citizens can buy property in Miami, just like U.S. citizens. International investors accounted for $5.1 billion in real estate transactions in Miami in 2023 alone. Foreign buyers have the same rights and opportunities as domestic buyers; no special visa is needed to purchase property. However, a visa may be required if you plan to visit the U.S. to tour properties. Many foreign buyers also have the option to finance their purchase within the U.S.
Foreign buyers are subject to U.S. taxes if they rent or sell the property. To understand your obligations, it is advisable to consult a tax expert, and we can connect you with professionals who specialize in international real estate tax issues.
Top Real Estate Projects for International Buyers
Miami offers an array of luxury real estate projects that cater to international buyers. Whether searching for a second home or an investment property, neighborhoods like South Beach, Sunny Isles Beach, and Brickell offer incredible options. Condominiums with ocean views, resort-style amenities, and proximity to the city’s nightlife and cultural offerings are ideal for vacation homes.
For those interested in Miami’s short-term rental market, areas like Downtown Miami and Brickell are prime locations, with exciting new developments such as Mercedes-Benz Places and HUB Miami.
Families often choose neighborhoods like Coconut Grove, Coral Gables, and Key Biscayne for their excellent schools and family-friendly environment.
Are you considering investing in the Miami, Florida, real estate market?
If you’re a foreign national looking to purchase property in Miami, the opportunities are plentiful as Miami’s real estate market continues to thrive. Always consult a legal professional about the latest laws and regulations to ensure a smooth and successful purchase. We’re here to help you find the perfect property and guide you through the process every step of the way.
Contact Rising Global Realty if you’re looking to buy, sell, rent, or purchase a luxury condo, home, apartment, or house in Miami, South of Fifth, Brickell, Downtown, Edgewater, Midtown, or Palm Beach.