According to an article published by the international media Financial Timesentitled: Colombians eye Miami as Petro election raises fears of capital flightreal estate companies in that city reported that there was an increase in inquiries from Colombian citizens who are interested in getting money out of their country, for the purpose of purchasing property in the United States.
The above, they say, occurred following the election on June 19 of Gustavo Petro as the next president of Colombia and who will assume power on August 7.
In the article of the media cited above, it was also indicated that Colombians are consulting on the issue of housing, something that suggests that they would be considering moving to the United States, beyond investing their money in that country.
“After Petro was announced as the winner, immediately we started receiving calls (…) My phone was bombed”, said Daiana Quiceno, vice president of gross sales for PMG Residential in Miami, according to Financial Times.
According to Quiceno, the interest on the part of some Colombians It was not only given once the Presidency of the Republic was defined, but from the first round of the elections.
Craig Studnicky, president of RelatedISG International Realty, a US real estate firm, also spoke regarding the above. He assured, as published by Financial Timesthat Colombian citizens they have contacted this company in Miami because “they want existing inventory right now”.
“That tells me that not only do they plan to move their money, but they plan to spend some time here in Miami. (…) Before, what people were looking for were pre-construction condominiums, but now they ask what is available on the resale market. These are not investors per seThey are families,” he said.
For his part, Tony Rodríguez-Tellaheche, of Prestige Realty Group, mentioned, according to the aforementioned media, that some Colombian citizens they gave the impression of being ready to see what will happen during the Petro government from August 7.
“But others say, ‘we are very afraid for our money and we think that if we wait it will be too late‘” Rodriguez-Tellaheche said.
With regard to the above, since Financial Times they highlighted that Miami has long been a haven for Latin Americans who “They are fleeing unrest, persecution, or economic volatility in their region.”
They affirm that regarding 70% of the inhabitants of Miami Dade County are Hispanic and half of the county’s 2.7 million residents were born outside the United States.
This international medium, with special emphasis on international business and economic news, also said that it had consulted a tax attorney in Colombia who did not want to reveal his name, and who said that his company received countless inquiries from Colombians anxious regarding what they will do soon.
“They fall into three categories… The first group simply wants to reduce their exposure to Colombia, depositing cash in a foreign bank account or maybe investing in property. The second group wants to go further and change their domicile outside of Colombia, to reduce their exposure to possible tax increases.. The third group, the smallest, has dual nationality and wants to completely renounce their Colombian citizenship and leave the country,” the tax jurist told Financial Times.
