The foreign cash that fuels Miami’s real estate boom is slowing down.
The percentage of Miami-Dade home sales that were all-cash deals, which are typically made by foreign buyers, was 58.3 percent in March 2015.
That’s down from 59.3 percent in February 2015 and 63.4 percent in March 2014, according to a report by the property analytics firm Corelogic.
Currency crises in Latin America and Europe, a strong U.S. dollar and ever-higher values for South Florida real estate mean that many foreign investors are having a harder time buying property in Miami.
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