The impact of COVID-19 this year was unprecedented, and hardly any sector was left out by the pandemic. The whole world went on a significant lockdown, and so did most sectors, sports, business, aviation, education, and so on.
The Real Estate Market was not left out, and according to Eva Garzon, nobody knows how long this effect is going to last. She confirms that COVID-19 has proven to be a source of an unexpected surge for the residential real estate market and yet another hurdle for out-priced home buyers. Historically low-interest rates and condo-cabin fever have driven up demand (and prices) for single-family homes and are even moving the needle on the sluggish, overstocked condo market.
In anticipation of the second wave of COVID-19 in the US, Eva admits an increasing demand for houses sold in record times. While she thinks that part of this immigration will be stationary, there is no denying that many people and families will eventually decide to stay permanently. And since Miami happens to meet all the perfect conditions and lifestyle that everyone wants to have, the COVID effect will positively impact the residential market. The biggest beneficiary in all these will be the South Florida Market.
On what motivated her to build her brand, she said, “Migration has been a traditional outlet for economic problems in the region, and the U.S. still holds the position as a land of opportunity for many people. Millionaires across Latin America are looking to leave their home countries as governments strive to fix public finances battered by the Covid-19 pandemic with higher taxes on the wealthy.” With the situation COVID has presented, Latin American families turning their gaze towards living in Miami remain Eva’s target audience.
In five years, Eva sees her company benefiting from the continued influx of Latin Americans into Miami. With a population of about 2.5 million inhabitants in the metropolis and with at least 70% of them being Hispanic, the next five years represent a surge in sales and influences. Eva believes positioning her company and services ahead of that time will be beneficial.
Eva Garzon has shown us how her company has grown during the last five years since she started operations and the role Latin American families have played in this growth. Miami remains the most attractive place for Latin Americans looking to migrate to the United States because of its countless advantages and close ties with familiar cultural roots. Eva points out that Miami is the perfect place for intending business owners who want to relocate because not only do they have the audience, they have the market. It’s relatively easy to set up the infrastructure for their business. She points out that Latin-Americans own at least 25% of businesses operating from within Florida.
With the impact COVID-19 has had on world economies, Latin-American regions are the worst hit, and because of this, many people are looking to migrate. But regardless of the rise in condo prices, most Latin-Americans still view Miami and New York as safe places to store their wealth.
For more information and apartment listings, connect with Eva on Instagram.