Foreign Buyers Make Up Almost Half of Miami’s New Construction Sales

Written by:

Rudi Davis

Date:

22 Jan 2026

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Nearly half of all new construction buyers in Miami’s luxury real estate market are international, according to Uri Sefchovich, a realtor with Coldwell Banker who focuses on properties above $1 million. This surge marks a decisive shift in how global capital is flowing into Miami, moving beyond the usual seasonal or vacation-home trends.

International Buyers Now Dominate New Construction

Miami’s luxury residential sector is seeing an unprecedented volume of international investment. Sefchovich cites recent data showing that 49% of new construction buyers in Miami-Dade County are from outside the United States. These buyers are not limited to those looking for a second home or a temporary base. Instead, they include clients from Canada, Russia, and New York, among others, who are making long-term investments and relocating significant wealth to Miami.

This level of international participation signals that Miami has become more than just a desirable vacation spot. It is now a primary destination for global buyers seeking financial stability, tax advantages, and growth opportunities unavailable in their home countries. Sefchovich’s own transactions over the past two years reflect this trend, with most of his luxury clients coming from outside Florida.

Miami’s Value Compared to Global Cities

The main driver behind this influx is not just Florida’s tax climate or weather. Sefchovich points out that international buyers see Miami as offering better value compared to other major global cities. “They find it cheaper than London, Paris, or New York per square foot,” he says. For these buyers, Miami properties are not being compared to those in Tampa or Orlando, but to those in Mayfair, Paris’s 16th arrondissement, or Manhattan’s Upper East Side. By this measure, even Miami’s high-end prices appear attractive.

This perspective helps explain why luxury buyers are willing to pay premium prices in Miami. The comparison to international markets means that Miami’s luxury segment is less sensitive to local U.S. market factors. Domestic mortgage rates, employment trends, and regional economic shifts have less impact on demand at this level. “The luxury segment is behaving differently than the rest,” Sefchovich notes, with properties above $1 million continuing to appreciate even as mid-market condos face downward pressure.

The Impact of Cash Buyers

International buyers are also changing how deals get done. Sefchovich estimates that about half of luxury transactions are all-cash. “Many are buying cash,” he says, which gives them a clear advantage in negotiations. Without the need for financing, these buyers can move quickly and secure better deals while avoiding the impact of rising mortgage rates.

This prevalence of cash purchases shields the luxury segment from the affordability issues affecting much of the U.S. housing market. Rising mortgage rates near 6% have sidelined many domestic buyers. In contrast, cash-rich international buyers continue to drive activity at the top end, largely unaffected by borrowing costs.

How the Industry Is Adapting

To meet the needs of this international clientele, firms like Coldwell Banker are leveraging their global networks. Sefchovich joined Coldwell Banker’s luxury division specifically because of its reach across 54 countries. “It’s one of the largest networks in the world,” he explains, which is crucial for marketing to and servicing foreign buyers.

For Miami developers and real estate professionals, the message is clear: success in the luxury market now depends on global marketing strategies and expertise in cross-border transactions. Local knowledge alone is no longer enough. Sefchovich’s own background—running a large retail company in Mexico before entering U.S. real estate—underscores the value of international business experience in today’s Miami market.

Looking Ahead: What Could Change

Whether international buyers will continue to dominate Miami’s new construction market depends on a range of external factors, including currency fluctuations, political stability in source countries, and tax policies in competing cities. However, for now, Miami stands out as a leading destination for global capital seeking luxury residential investments in the United States.

The current wave of international investment has made Miami’s luxury market more resilient and less tied to local cycles. As long as foreign buyers view Miami as a safe and attractive place to allocate wealth, their influence on the market is likely to remain strong.