Florida’s real estate market is being pulled in two directions at once. In South Florida, international capital – particularly from Latin America – is reshaping the condo and short-term rental market. In the greater Orlando area, a steady flow of domestic relocators and forward-looking foreign investors is fueling demand for long-term residential assets. For agents working across both markets, reading these currents correctly has become the difference between guiding clients toward sound investments and watching them make costly mistakes.
Carol Marcellini, a Real Estate Advisor and Investor with Compass Florida, has spent the past decade navigating both markets. Originally based in South Florida for six years before relocating to Orlando in 2020, she brings a perspective shaped by having been a buyer, seller, and landlord herself. Today, roughly 85% of her clientele is Hispanic or Brazilian, a demographic mix that reflects broader economic pressures across Latin America.
Political instability and currency volatility across Latin America – particularly in Brazil – have pushed investors to seek dollar-denominated assets in stable legal environments. “People are feeling unsafe leaving their money in those countries and sending money to the United States to protect assets and make the dollar work for them,” Marcellini explains.
Miami has emerged as the primary entry point for this capital, with Brickell and downtown neighborhoods drawing particular interest. The expansion of short-term rental permissions in certain Miami-Dade areas has made Airbnb-friendly pre-construction condos attractive for investors who want both a U.S. foothold and a yield-generating asset. Marcellini’s team has been closing several pre-construction units, offering clients a structure that requires modest deposits now, with financing to follow at delivery in two to three years.
The financing terms available to international buyers are themselves a significant draw. A 30-year fixed mortgage at rates between 6% and 7%, requiring roughly 30% down, looks very different to a Brazilian investor accustomed to floating-rate mortgages in a high-inflation environment. In Brazil, refinancing is not an option; borrowers stay locked into oscillating rates for the life of the loan. That contrast makes U.S. mortgage terms unusually appealing.
Liquidity reinforces the case. A well-priced Florida property in good condition can sell in 60 to 90 days. In parts of Brazil, the same process can take 12 to 18 months. Once investors understand that timeline difference, the calculus around holding a U.S. asset changes meaningfully.
For many of these investors, Miami is the entry point, but Orlando is the next move. The price differential is substantial: the same capital that buys one Miami property can often acquire two in the Orlando metro area. That arithmetic has made Orlando increasingly active for the same international buyer pool, though the investment thesis differs, focused on long-term rental income and appreciation rather than short-term yield.
Orlando is also drawing a growing wave of domestic relocators, primarily from New York, California, and Chicago. These buyers are largely targeting the $500,000 to $800,000 price band, which Marcellini identifies as the most active segment right now. Seasonal timing matters: schools start in August, so homes listed in February and March that sat on the market are now going pending. Three of her own listings recently moved to contract.
Above $1.2 million, the pace slows. But above $2.5 million, well-located, well-maintained properties are actually moving faster than the mid-luxury tier, partly because supply at that level is genuinely scarce.
Within the Orlando luxury segment, Windermere has carved out a distinct identity. The area’s appeal rests on top-rated public schools, proximity to private options, lakefront lifestyle, golf courses, and gated communities offering both privacy and amenities. Unlike Winter Park, which attracts local move-up buyers, Windermere draws heavily from out-of-state relocators seeking a lifestyle upgrade.
The housing stock skews older, creating a common trap for buyers unfamiliar with the market. Marcellini recently walked a Brazilian family through a decision that illustrates the dynamic. They had focused on lower price points, drawn by larger square footage, without accounting for renovation costs. She advised them to raise their purchase budget by the $100,000 to $150,000 they would have spent on renovations, financing the difference over 30 years rather than depleting cash reserves immediately.
The family ended up in a newer home with a pool, in a golf community with two clubhouses and tennis courts, at a manageable monthly payment. It is a conversation, Marcellini says, she has regularly with international buyers who arrive focused on purchase price rather than the total cost of ownership.
Not every corner of the Orlando market warrants the same enthusiasm. The Kissimmee short-term rental market – the only area in Osceola County where Airbnb-style rentals are broadly permitted – presents challenges that many investors underestimate.
“Is it a good investment? I would say no, not for people that want to make money,” Marcellini says. The math rarely works unless the property is a large single-family home in a top-tier resort community, fully themed and equipped to compete with the entertainment experience guests expect near theme parks. HOA fees in those communities run $1,000 to $2,000 per month, and the properties require continuous reinvestment.
There is also a structural appreciation problem. Vacation rental properties, treated more like commercial hospitality assets by appraisers, tend to depreciate faster than comparable long-term rentals. For clients who visit Orlando a few times a year and dream of owning there, Marcellini’s advice is consistent: buy a long-term rental in an appreciating neighborhood, and stay in a hotel when you visit.
Florida’s insurance market has concerned buyers and investors, but Marcellini’s ground-level read is more measured than headlines suggest. Increases have been real but not dramatic, and she attributes much of the pressure to a prior wave of insurance fraud rather than purely climate-related risk repricing. She anticipates some relief ahead on both insurance costs and property taxes, where pending legislation could reduce the burden for primary homeowners, meaningful in high-growth corridors like Windermere, Winter Garden, and Claremont, where seven new schools are planned.
The current buyer’s market – characterized by more inventory, longer days on market, and motivated sellers – is a window buyers should use deliberately. “Sellers who don’t need to sell should not put their house on the market, because they’re going to price it based on pandemic-era values, and that’s not the reality today,” she says.
One segment already behaving like a seller’s market: lakefront and waterfront properties. Rare by nature and increasingly sought after, these homes command full prices and move quickly regardless of broader conditions.
The infrastructure behind Marcellini’s international business offers a model for agents considering a similar focus. Rather than relying on inbound leads, her team has built formal referral partnerships with licensed real estate professionals in Brazil. Those partners receive structured education on U.S. financing, market geography, and investment strategy, including in-person immersion visits where they tour properties and meet developers. The result is a pipeline of pre-qualified, well-informed buyers who arrive with realistic expectations. “Ninety percent of my business today is referrals,” she says.
About the Expert: Carol Marcellini is a Real Estate Advisor and Investor with Compass Florida, working across South Florida and the greater Orlando market with approximately 10 years of experience. Roughly 85% of her clientele is Hispanic or Brazilian, and she has built a referral-based practice in partnership with licensed real estate professionals in Brazil.
This article is based on information provided by the expert source cited above. It is intended for general informational purposes only and does not constitute legal, financial, or real estate advice. Readers should conduct their own research and consult qualified professionals before making any real estate or financial decisions.
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