Bacchi said about one-third of the customers buying Artefacto furniture are Brazilian. Even though Miami condos aren’t selling at the bargain prices of a few years ago, he said the market is stable and there are still plenty of Latin American buyers looking for property. Business is so good, he said, that he is planning to open a third store in Doral in August.
“We are now seeing what I would call a permanent second-home market,’’ he said rather than just an investment opportunity. Brazilians who bought vacation homes here, Bacchi said, are now trading up.
That’s the case of Camargo, whose company owns FM radio stations and magazines in Brazil. Twelve years ago, he bought a condo on Key Biscayne but he expects to close soon on his new property at One Thousand Museum for around $5 million. When it’s finished, he’ll be in the market for an interior designer and new furniture.
Debora Aguiar, a São Paulo architect whose firm works on such high-profile projects as the interior of the athletes’ village for the 2016 Rio Olympics, said she has picked up so much design work in South Florida that she plans to open an office in South Beach in November.
There’s one more intangible that is expected to keep fueling the Brazilian stampede to Miami: Brazilians just like South Florida.
In a phone interview from São Paulo, Camargo ticked off all the things he enjoys: “good museums, Brazilians like sunshine — I think you have sunshine 300 days a year, nice beaches, good basketball team — three-time champions, the best restaurants — now you can come and stay 10 or 15 days and you don’t have to repeat restaurants, better security — everything is better.’’
And one more selling point for him is that “in Miami they speak Portuguese at all the nice stores. You go to Bal Harbour and you don’t find a store without at least one attendant who speaks Portuguese.’’