MRG Intelligence · International Buyer Advisory · 2026
Miami Real Estate for Foreign Buyers — The Complete 2026 Guide
Foreign nationals can purchase real estate in Miami without US citizenship, permanent residency, or a special investor visa. In 2025, 15% of all residential sales in Miami-Dade County were to foreign buyers — seven times the national average. In pre-construction, 49% of buyers were foreign nationals. Colombia is the number one source country, followed by Argentina, Venezuela, Brazil, Peru, Chile, and Mexico. The average purchase price for international buyers was $558,700 in 2025. 37 to 43% of all Miami sales are cash transactions.
The Market Reality — Foreign Buyers Dominate Miami
The Three Requirements — What Every Foreign Buyer Needs
Primary identification for all real estate transactions in Florida. No US visa, Social Security number, or ITIN is required to purchase property — though ITIN improves financing terms for buyers who need a mortgage.
Cash buyers need proof of funds. Financed buyers need 25 to 35% down payment plus 6 to 12 months of PITI reserves in a US FDIC-insured bank account seasoned for 30 to 60 days before closing.
A buyer's agent with international transaction experience, a Florida real estate attorney for contract review and closing, and an international CPA with US real estate expertise. Miami Real Group coordinates all three for every client.
The Step-by-Step Process — From Decision to Keys
Primary residence, investment property, vacation home, or pre-construction position. Each has different financing requirements, tax implications, and neighborhood priorities.
Buyer's agent, Florida real estate attorney, international CPA. In Florida, the seller or developer pays the buyer's agent commission. Your representation typically costs you nothing.
In-person tours or video calls. Pre-construction transactions can be completed entirely remotely — contracts signed, deposits wired, and closings executed without physical presence in Florida.
Florida uses NAR standard contracts for resale. Pre-construction uses developer contracts — always have your attorney review before signing. Pre-construction good faith deposit of 1 to 3% goes to escrow.
Inspection of the property. For condos: review financial statements, reserve fund balance, SIRS completion status, special assessments, and obtain an insurance quote for the specific address — not the zip code.
30 to 45 days for resale. Pre-construction closes at building completion. Physical presence not required — power of attorney or remote online notary completes the transaction.
Key Neighborhoods for Latin American Buyers
Finance, tech, professional hub. Urban walkability, best restaurants, Miami energy at its peak.
Bay views below Brickell prices. The value play for international buyers seeking water access.
Art district turned residential. Some buildings permit short-term rentals — strong STR investment entry point.
Protected by NCD2/NCD3 zoning. No towers above 3 stories. Top private schools. Families with strong purchasing power.
Miami's largest Latin American business community. Excellent schools, accessibility, and community infrastructure.
Oceanfront. High concentration of Venezuelan, Argentine, and Russian buyers. Roughly one mile of luxury beach corridor.
Can a foreign national buy real estate in Miami without a US visa?
Yes. The United States does not require citizenship, permanent residency, or a special investor visa to own real estate in Florida. Foreign nationals from any country — with limited exceptions for certain restricted nationalities — can purchase residential and investment property in Miami-Dade, Broward, and Palm Beach counties. Property ownership does not grant immigration status. Miami Real Group works with international buyers from Colombia, Argentina, Venezuela, Brazil, Mexico, Canada, Spain, Germany, the United Kingdom, France, and beyond.
How much down payment does a foreign national need to buy in Miami?
Foreign nationals purchasing in South Florida typically require a minimum of 25% down payment for single-family homes and 35% for condominiums when financing through a foreign national non-QM lender. Miami Real Group recommends 30 to 40% for stronger positioning and better rate access. Cash buyers have no down payment requirement — they simply need proof of funds. In 2025, 37 to 43% of all Miami sales were cash transactions.
What is FIRPTA and how does it affect foreign buyers in Miami?
FIRPTA — the Foreign Investment in Real Property Tax Act — applies when a foreign national SELLS US real estate, not when they buy. When a foreign seller closes in the US, the title company is required to withhold 15% of the gross sale price and remit it to the IRS as a prepayment against potential capital gains tax. This is not a loss — it is a withholding. The excess beyond actual tax liability is refunded. A qualified CPA files the return. FIRPTA does not affect the buying process.
Can foreign nationals get a mortgage to buy property in Miami?
Yes. Foreign national non-QM loans are available in South Florida without a US credit history, Social Security number, or ITIN — though ITIN is accepted and improves terms. Lenders require 25 to 35% down payment, 6 to 12 months of PITI reserves in a US FDIC-insured bank account seasoned for 30 to 60 days, proof of income from home country, and passport identification. Miami Real Group has relationships with specialized foreign national lenders across all South Florida counties.
What are PITI reserves and why do foreign national lenders require them?
PITI stands for Principal, Interest, Taxes, and Insurance — the total monthly cost of owning the property. Foreign national lenders require 6 to 12 months of these costs held in a US FDIC-insured bank account, seasoned for 30 to 60 days before closing. This reserve requirement demonstrates financial stability to the lender in the absence of a US credit history. Miami Real Group calculates the exact PITI reserve requirement for every foreign national transaction we advise.
What is the step-by-step process for a foreign national buying in Miami?
The Miami Real Group process for foreign national buyers: Step 1 — define the objective, budget, and asset type. Step 2 — engage a qualified buyer's agent, real estate attorney, and international tax advisor. Step 3 — search and select property through in-person tours or video calls. Pre-construction transactions can be completed entirely remotely. Step 4 — make an offer and execute the purchase contract. Step 5 — conduct due diligence including inspection, condo document review, reserve fund analysis, and insurance quote for the specific address. Step 6 — close in 30 to 45 days. Physical presence at closing is not required — a power of attorney or remote notary can complete the transaction.
What taxes does a foreign national pay when owning property in Miami?
Foreign nationals owning property in Miami pay annual property tax of approximately 1.7% of assessed value in Miami-Dade, 1.8% in Broward, and 1.6% in Palm Beach. Rental income from the property is taxed at 30% of gross income by default for foreign nationals — but electing to be treated as a US resident taxpayer allows deduction of expenses including mortgage interest, depreciation, insurance, and maintenance, significantly reducing the effective tax rate. A qualified international CPA is essential.
Which Miami neighborhoods are most popular with Latin American buyers?
Latin American buyers concentrate in several distinct South Florida micro-markets. Brickell attracts professionals and investors from Colombia, Argentina, and Mexico seeking urban walkability and financial district proximity. Doral — sometimes called Doralzuela — hosts Miami's largest Venezuelan and Colombian business community with excellent schools and accessibility. Sunny Isles Beach attracts high-net-worth buyers from Venezuela, Argentina, and Russia seeking oceanfront luxury. Edgewater offers bay views at pre-construction prices from $520,000 for buyers seeking value with water access.
What is a buyer rebate and can foreign nationals receive one in Miami?
A buyer rebate is a legal arrangement in Florida where a buyer's agent shares a portion of their commission with the buyer at closing. On a $600,000 purchase, a rebate can return thousands of dollars directly to the buyer. Foreign national buyers are eligible for buyer rebates on the same terms as domestic buyers. Miami Real Group advises every buyer to ask about rebate availability before signing any buyer representation agreement.