Villa Valencia in Coral Gables Magazine
April 16, 2019.
Villa Valencia was recently featured in Coral Gables Magazine.
Mexico ranks as “target No.1” for foreign buyers at the Villa Valencia project that Kapoor’s Location Ventures will soon build at 515 Valencia Ave. The group is developing a 13-story tower with 39 estate-sized condos, the kind of unit popular among offshore buyers who like room for family. One Sotheby’s International Realty is handling sales and starts presentations at its recently opened Mexico City office in April, says Kapoor.
“Many countries in Latin America, Europe and other regions go through cycles, when their economies are hot and they’re looking to deploy cash overseas, or when there’s political or economic stability and there’s capital flight,” says Kapoor. “In Mexico, the economy has been rising, and there’s a certain amount of political uncertainty, which are both driving affluent buyers to look in South Florida” Kapoor says his team also is talking with clients from the United Kingdom, as that country grapples with exiting the European Union. Plus, they plan to seek buyers from Colombia and Chile among other Latin American nations that have long viewed South Florida as a safe hub for businesses and homes.