By Michelle Balani and Mary Murphy
Rock Center
Dressed in an expensive pinstriped suit and sporting the latest Louis Vuitton sunglasses, Miami real estate broker Cristiano Piquet is ready to make a sale. He has a client in his shiny new white Rolls-Royce, and they’re on their way to see $9 million apartment at the W Hotel on South Beach.
Piquet’s client, 32-year-old Antonio Luciano, who comes from a wealthy family in Brazil’s sugar cane and commodities business, had already purchased two properties from Piquet over the phone. Now he is in search of a larger home with a better view. Like most rich Brazilians, Luciano is ready to pay cash for that perfect place.
Waves of wealthy Brazilians such as Luciano are landing on South Florida’s shores and spending millions of dollars on vacation condominiums, clothes, furniture, cars and art, all of which are much less expensive here than in their homeland.
They started arriving in the past few years when South Florida was one of the epicenters of the real estate crisis, with vacant buildings and foreclosures all around. At the same time, Brazil's economy was starting to surge, and as costs in Brazil soared, the United States and its depressed real estate prices made it the land of opportunity.
“The prices here are really cheap now,” said Luciano. “If you look for the same type of unit to spend a vacation in Brazil, in a place like Rio, it's double the price. If you go to Rio de Janeiro, you have problems everywhere. You have all the violence. Here, no problems, no violence. You can do whatever you want. You do a nice investment and spend your vacation at the same time.”
“The dollar exchange rate now is very good for the Brazilians,” added Piquet, “so now is the time to buy. And on top of that, the prices of the properties, they went down big time, about 50 percent. It's a big discount.”
Catering to fellow countrymen
Benefitting richly from these spending sprees is Piquet. A Brazilian himself, he launched his own brand seven years ago when he opened a real estate firm catering to his fellow countrymen.
The former race car driver, who moved from Brazil to Miami in 2000, got into the business to guide his fellow countrymen through the process of purchasing properties in the United States, and to make a nice profit from the burgeoning market.
“I was trying to help the Brazilians because I knew how it was to come to United States, trying to do something. There’s nobody that speaks the language (Brazilians speak Portuguese as opposed to the local English and Spanish), nobody that could give us good service. So I said, ‘You know what? I'll do this myself,’” Piquet said.
Now offering a range of concierge services from decorating to luxury yacht rentals, Piquet has become a one-stop shop for his Brazilian clientele.
In addition to the affordable real estate and the climate, Piquet said, his clients love the shopping in Miami, and shopping centers such as Bal Harbour Shops in Sunny Isles have been benefitting from Brazilians’ business.
“Brazilians will not buy anything that is not the best or close to the best,” he said. “They love shopping, and they love the beach. They love the Gucci, Prada, Louis Vuitton, Dolce & Gabbana and Trump. … A brand name, they love it.”
Presidential discussions
The economic impact would be even greater, say local economists, if Brazilians, like Europeans, could come and go using only passports rather than wading through the red tape of applying for tourist visas. In recognition of this obstacle, President Obama recently discussed the subject with Brazil’s President Dilma Rousseff during her first official visit to the White House.
Despite this impediment, Brazilians spent an estimated $1.6 billion vacationing in Florida in 2011, an increase of nearly 60 percent from the previous year. Brazil also happens to be the state’s top trading partner -- in 2010, Florida's trade with the country topped $14.4 billion.
All of this was welcomed news for Frank Nero, who heads the Beacon Council, Miami-Dade County’s economic development agency.
“Brazil is our China,” said Nero. “That's where the economic opportunity here is. … Much as China is to perhaps other areas in the United States, because of our culture and our language, our greatest opportunity is to the south of us. And Brazil right now is the area that I think has the greatest opportunity and potential for us. …Wise folks will be learning their Portuguese.”
For now, the Brazilian wave continues to grow. And Brazilians are not just taking Miami, but New York City too -- buying up multimillion dollar apartments at some of New York’s best addresses. Getting in on the action is Piquet, who is opening an office in downtown Manhattan.
As for Luciano, he’s still shopping. The $9 million apartment wasn't quite right and he’s now looking for something with a little more room. He was last seen on Miami’s Star Island, touring a house that’s on the market for $17 million.
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Great! Set us up for another wave of illegals who don't speak English - fanfrickingtastic
Yup... And they have more money than you...
Bunch of ignorant, illiterate non-English speaking pricks, right?
A bit blow the belt.
I am amazed at the number of ridiculous, nervous, unfounded, protectionist posts on this topic. I am born and raised in Texas. I have been living in Brazil for the past year working on a Real Estate project. I have been a housing industry professional for more than 25 years, and I am based in South, Florida. Brazil's economy is thriving because of moderinzation of govenemnt policies that are in large part aimed at diminishing the divide between rich and poor and to finally send some "blood" in the form of opportunities down to the lowest income earners. Brazil has enjoyed record expansion of its middle class, as millions have moved out of poverty over the past number of years. Brazil has it all and they dont need us. They have boundless natural resouces and geographic size, and increadible diversity. Their history with respect to business and governmental practices is not that great and yes the poor in Brazil have suffered greatly at the hands of the greedy, but the country is now truly making advances in its efforts to correct this problem and the result is a very healthy economy and record low unemployment. In many cases the rich have become richer. But I have met many Brazilians of a broad range of wealth that have purchased apartments in South Florida of all price points. A young business man I know, not super rich, just bought one of those $150K downtown Miami apartments and yes he rented it out. He put 40% down and financed the rest with a Miami bank. The interest paid stays in the US. I personally suffered greatly with the downturn of South Florida's real estate market and welcome this temporary cycle of Brazilian buying. But there is no reason to get alarmed because in the Real Estate industry, all things are cyclical and this cycle will too end and the Brazilians will go away and some other group, maybe the Super Rich Rebounding Americans, will be the buyers. I agree very much with someone's statement that we should welcome the Brazilians becuse if they were not buying, our recession would be that much more in the hole. I speak 3 languages and my wife of 21 years speaks 5. America is a melting pot and the spice of the day is Brazilian.
Spare us your rose-colored screed, because no one's buying it...well, except maybe the Brazilians.
What melting pot? Certain people are working and supporting and others are walking around feeling entitled to welfare, selling drugs and shooting each other. You figure it out
Hey somebody that actually knows something about the world. I am amazed. Everyone else take note!
Brazil is nothing more than a 3.3 mil. sq. mile Texas, devoid of regulations and shaping its policies to the energy, timber, mining and agricultural businesses that feed the beast.
"In the town of Lagoa da Prata there has been a sugar
cane mill since the 1970s, owned by Antonio Luciano,
a ‘Colonel’ and large landowner, known as one of the
biggest grileiros (illegal land-grabbers) of
Minas Gerais".
Don't you understand, without the prodigious efforts of one Antonio Luciano and his spend-happy family, there'd be no jobs...or sugar!
2 minutes into reading the commentaries and it's enough to make you realize how stupidity spreads... FAST...
Funny how when an American millionaire emerges buying properties, he's a good family man, a freedom fighter and Free Market Champion...
Now when the millionaire is foreign, he's either a drug dealer or a shady politician...
Wake up idiots...
The world is flat like a son of a bitch and the US is not the only place where money exists...
One thing is for sure... It's not going to stop... The rest of the world will keep growing and if we keep this republican mentality of "American exceptionalism" we will keep placing 18th in the world in education and our children will be less and less ready to adapt to the changes to come.
...or an illegal land-grabber.
You awake now?
So you're the authority on Brazil today...
Alright, I'll bite...
Would you care to explain the laws of land occupancy for unproductive lands in Brazil???
Please, feel free to include land occupancy in FAVELAS and also, let's not forget the MOVIMENTO DOS SEM TERRA...
Would I care to? No, I wouldn't. You know how to google, right?
The Favelas? Perhaps some intellectual clairvoyance on the part of the Portuguese would have prevented this unfortunate socio-anthropological inevitability, a scenario that is deleteriously, and famously, paralleled in the sates.
"MOVIMENTO DOS SEM TERRA..."- right, a countervailing measure from the mostly indigenous peoples of Brazil to wrest power(land) away from the pluto-bureaucratic ruling class. And?...no need to write so cryptically.
My (implied) point remains-- importing economic injustice undermines social-economic evolution. Period.
As opposed to home grown economic injustice???
Your rants might be great in your philosophy class, I actually applaud you ability to use "big words", but they're just it... Fancy rants.
Favelas could have been avoided the same ways Ghettos could have been avoided in south Philly. That's a hypocritical point.
Your utopian idea of the "Movimento dos Sem Terra" only comes to show that you have no in-depth knowledge of what you're talking about.
The world's unregulated capitalism has one 1 truth: Some make a lot of money at the expense of many. Is there a fix, yes... But for that, some people will have to give up some of that precious money...
I actually agree with your point, but I see your basis of information as naive and uninformed, especially when it come to Brazilian social development. There's one big difference between you and me on this subject... You read about it in Wikipedia, I've lived my whole life in it.
As opposed??? We're going in circles here-- 'importing economic injustice undermines social-economic evolution...hence the NEED(as indicated by its inclusion) for socio-economic evolution. Understand???(see, I can add question marks too).
Yeah...good one. You applaud? Like a trained seal? Like an unthinking, Pavlovian lab animal? Neat. Now back to your trouncing:
Hypocritical point? No, silly person, that was EXACTLY my point. What don't you understand about-- 'a scenario that is deleteriously, and famously, paralleled in the states'? Everything, apparently.
MY Utopian? I was simply recounting what the movement, rightly or wrongly, claims to be. Nothing in my words can be construed as Utopian, personal, nor even political, just factual. Ok, now I'm seriously beginning to question your ability to read and fully understand English. Fine, if not your native language, but not something I wish to burden myself with in a maddeningly protracted discussion.
What you need to see-- are my words, as you're clearly confused by anything above conversational English.
Brazilian social development? Tell me, where is this 'Brazilian social development' you speak of expounded upon in my posts with which you find issue? And what are your SPECIFIC objections? I'll wait.
The 'big difference', actually, is about 50 IQ points.
John Doh, please continue to never leave the United States because two thing will happen to you if you do leave the US for a trip
1) You will be extremely disappointed to see that the US, in fact, is not ahead of anyone else in the world. In fact, its falling behind in many, many things.
2) You will be punched in the face because of the sheer ignorance that wreaks off of you.
Beijos
Brasileiro,
1) You will see, in fact, that I believe the U.S. is already in desperate need for socio-economic reform, and that importing the explicit injustices of other imperial colonialists, by way of an artificial economic boon, is a distractive obfuscation that won't go unnoticed, or unchecked. Meanwhile, it appears yours is the jingoistic ignorance that is truly offensive to the senses.
2) Control that cringe-inducing, primitive rage of yours...or at least confine it to the Amazon.
Finally, where in my posts do I write about America's primacy, be it moral, economic, or the "many, many things" you irrelevantly mention? Nowhere, that's where. Now back to your dank, unenlightened hole, you simple-minded creature.
Like I said before... All your knowledge comes from reading wikipedia... Never been there, never lived there, never seen the political or financial motives behind the movements... You are not qualified at all to even start talking about it.
You, obviously, have no knowledge regarding laws of land occupancy in Brazil.
So , again, your rants might be great at Redneck Community College, but everywhere else, well, It's just an uninformed, prejudiced, if not completely bigoted rant.
There's a big difference between what the world IS and what you want it to be, so allow me to say this to you one more time.... wake up idiot... you are living in a fantasy world.
Do "rednecks" typically take up the cause, even if implicitly, of indigenous workers thousands of miles from home? Mind you, "Indigenos" agricultural workers(read: Mexicans) not unlike the ones they fight so mightily to keep out of their own country? Seems a philosophical and humanitarian contradiction to me. But enough about your sophomoric, nonsensical name-calling.
You've said very little thus far. Only lame attempts to deflect from my original irreproachable point. That being-- Antonio Luciano's claim to those lands and the consequent riches it has bestowed upon him are "unjust", regardless of what past, present, or future Brazilian law may dictate. Tell me, why are you unwilling to directly address this basic ideological point?
Moralism precedes law. Slavery in the U.S. at some point was legal, until it wasn't. The "laws of land occupancy", which you fetishistically insist on deferring to, is an impertinent distraction from the larger point, which is, AGAIN-- The Luciano family's right to those lands and those riches, built on the backs of those slave-wage-laborers is unjust, immoral, and just plain wrong. And importing that sort of economic injustice, in the form of a real estate hunter, into this country is unwelcome, in my not-so-humble but oh-so-right estimation. Get it?
And again, time to lose this line. It's lame, and inapplicable.
But let's also not forget "sympathetic". Sympathetic towards field workers whose back-breaking labor enriches a tiny group of Brazilians who apparently have zero compunctions about exploiting arcane labor and land laws. Well, they did create those laws(to benefit themselves) after all. And now let's forget the uninformed, prejudiced imputations you ascribed to me. Because it's presumptuous nonsense.
Again with the name-calling...
Listen up: the humanitarian world is what we make it. Consciously, deliberately, willfully. And not something to gaze upon in passive, helpless wonderment... except maybe for you and others with similarly limited cognition. Perhaps you should listen more and talk less.
There's a difference between Immoral and illegal. And in your case, your immorality claim comes from something/somewhere you have never even set foot in...
I don't even know why I'm responding to this one more time, but I'm going to try to make this a little more productive/challenging.
You can argue all day about how corrupt the world is and how the wealthy shape the laws to benefit themselves, but talk is cheap. So...
How would you suggest laws be shaped in Brazil to better benefit the people, promote human rights and increase quality of life?
What needs to change there?
The upside of the story is this...since the Brazilians do not get a homestead exemption, they will pay the full amount of property taxes.
That is if they do not relocate to Florida.
I know a Realtor in Lakeworth that works with Brazilians and Chinese only and she makes a killing on property investment...
Brazilians come to the areas, look at it, and if they like it, they buy... A LOT...
We had the Japanese real estate invasion in the 80's, the Saudis and other Arabs in the 90's and the Chinese in the 00's. So some rich Brazilians buy the same properties bought and sold many times. it affects regular Americans and our economy not one iota. if some slick willy real estate agent is selling a property to Lucky Luciano, big deal.
Nothing to get excited about folks. It's the wealthy of the US selling to the wealthy of Brazil. For the rest of us, Romney will soon tell you that you will have two Cadillacs in every garage. If you only have a single car garage, don't worry, he will see that you get an elevator for one of them. That should keep the 99% quiet.
oops.
What does it matter who buys property here or spends money here? Are empty homes and failed businesses beter? By the way 5% of the population has controlled 95% of the wealth since the founding fathers.
I say we sell them everything south of Orlando, then let them annex it and call it Brasilia Norte.
is this really sugar cane money, or more drug money being laundered in the us?
Hey EddieRo. I'm amazed that you and everyone else that posts comments here take themselves so seriously. Just who in hell do you think you all are anyway?
Just what we need......foreign non-citizens buying more and more of America. We are selling out our own country for the sake of greed.
Congress needs to pass a law that allows only AMERICAN CITIZENS to purchase real estate on American soil or American businesses. Pretty soon, America will not be owned by America.
I fear for the future of my country.
The way I see it, the more brazilian women we have here the better.
Thankfully, very little in this world is determined by "the way you see it".
This country has gone down hill and will continue to do so. Its not Obama's fault he was only left as president to clean up the mess of others. As Blacks always have. VERY UNFAIR. Their isnt a single working american that likes to come to work and clean up after the person working before them. Far as Brazilian coming here and buying this country up. They should. They have the right to do what they want with their money. The same as you can with yours. It shouldnt bother anyone. Unless your racist. Racist people suck you have made the economy go to sh-t. If you stop worrying what others are doing with their money and start keep track of your own bank account, you may be able to keep food in your house. MY SPELLCHECKERISBROKEN THis is common for REDNECKS. So to all that agree get your lives in order dont hate the rich and wealty. learn from them.
Come back and post when you've learned how it is "their money" came to be. Learn from me.
If foreign nationals want to come here to blow their money...LET THEM! Americans have been spending billions as tourists in Europe and elsewhere for decades. One of the biggest benefits of a weak dollar is tourism. I have absolutely no problem with that.
FOR SALE----USA. sad
What did Tony Montana say, in the movie Scar Face? America is What? And he was a broke ass Cuban.
This is another example of a useless MSN article, or is it just me?
It's just you. Any other questions?
And thanks for reading.
First the Russians now Brazil . This is what the American dream is all about MONEY and freedom. All that money we are printing must come back sooner or later. Trickle back wealth is what it is from all those trickle down promises putting money somewhere hoping it trickles back down to pay the bills.. You can sing and dance all you want someone still needs to run the machine. obama has his tap dance shoes on today I hope he does not trip over his own two feet how many songs can he sing at once and be good at. You can pitch a no hitter but you must learn how to pitch first same thing with the economy and you know who.
these sugar plantation owners have money,thanks to the cheap almost slave labor and george fontainills whose software help them corner big piece of sugar market,but its very few brasilians are coming here,the corruption in miami dade is worse than in any country in south america,plus being the center of all drug trade and the new home of russian mafia......
Yes.
Isn't it wonderful, fellow Americans, that we had an IDIOT running Fannie Mae/Mac for years, giving out unqualfied mortgages so "everyone could have a home, regardless of cost"! IDIOT"S name is BARNEY FRANK, another democrat politician from H. This started in the CLINTOON adminstration and then in Bush's, whereas Bush asked this IDIOT 17 times, "is everything alright?" and IDIOT said "EVERYTHING'S FINE". NOW we all PAY. This guy should have been booted after one year, but he's a GAY demmie, so we couldn't GASP do that just continue the ruination, we don't care.What a well run country............
No.
I wonder just how many renters are actually renting from someone that isn't even an American.
Where is the money REALLY coming from? This fails the smell test, for my trained nose...a big honker if there ever was one!
Screw these foreign super rich (many of whom have gotten their money through nefarious means but are not accountable for their crimes under American jurisdiction) buying up the United States.
These folks seem to have lots of money but seem rather vulgar in their ostentatious flaunting of it and their low class tastes (almost like those chaps in that movie "Scarface.") Dolce Gabbana, Rolls Royces? Is it good taste or am I just supposed to be impressed.
My first time in Miami was April on my birthday. What a ghetto placed And south beach has a pink color cop car i was like wow.