Activity from Latin America is picking up dramatically due to the loosening of travel restrictions and political and economic turmoil in the region. Latin Americans are competing with local and domestic out-of-state buyers for a tiny pool of available inventory, however.
Enter Merrick Manor, the solution for the Greater Miami market’s need for $1 million-and-under, move-in ready luxury condominium inventory.
A new Miami Herald column details how Mexico, Peru, Colombia and Chile have overtaken “traditional sources of foreign capital” in Miami, including Argentina, Brazil and Venezuela. With Latin America expected to have minimal – if any – economic growth in 2022, even more wealth will be transferred from the region to Miami in the year ahead.
Merrick Manor developer Henry Torres shared his insights on how competitive the local residential market will be in 2022:
“Competition between buyers is only going to get more intense in 2022,” Torres said. “This winter, snowbirds from Canada returned for the first time since the pandemic began. The easing of travel restrictions is also allowing visitors from Latin America to return to South Florida. That means international buyers are now competing with local and domestic out-of-state buyers for the limited product. At Merrick Manor, our luxury condo building in Coral Gables, we are seeing much more international activity and expect that to increase further in the new year.”
Located at 301 Altara Avenue, the 10-story, 227-residence Merrick Manor’s pet-friendly amenities and lifestyle truly cannot be beat. Merrick Manor also has a Zillow Walk Score of 77, making it “very walkable.”
Berkshire Hathaway HomeServices EWM Realty is the exclusive residential sales and marketing representative for Merrick Manor.
For more information about the residences at Merrick Manor, visit the new Sales Gallery in Suite 117 on the ground floor of the building at 301 Altara Ave., Coral Gables, FL 33146 – or contact the Berkshire Hathaway HomeServices EWM Realty team by calling (305) 779-6870. The Sales Gallery is open from 10 a.m. to 6 p.m. on Monday through Friday and from 11 a.m. to 5 p.m. on Saturday and Sunday.