Miami Homes for Sale, South Beach Real Estate

Foreign investors dominate in South Florida real estate purchases

Developer Joe Milton just put up millions of his company's cash to set up a mortgage company to fund loans and help his clients to close on units at the St. Tropez condominium in Sunny Isles Beach.

One of the reasons as well as a key factor in the recent rise in Miami and Miami Beach real estate is because foreign buyers are frequently locked out of the market if they aren’t cash buyers.

Milton is the president and chief executive of J. Milton & Associates in Coral Gables and says 60% of their buyers are foreign and up till now there are no loans being made to foreign nationals.

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