Of concern in Florida is a new law signed by DeSantis to prevent Chinese, Venezuelans and Cubans from buying property.

Florida Governor, Ron DeSantisIt signed a new law limiting the purchasing power of property in the state by citizens of seven countries, with particular emphasis on China. It has drawn criticism from real estate experts due to the negative effect it could have on the Miami marketas well as concern on the part of other groups due to the possibility of discriminatory actions against foreigners in the state.

The A law recently passed by Gov Regulates the purchase of land and property in Florida Located within 32 kilometers (20 mi) of a military installation or critical infrastructure By citizens of China, Cuba, Russia, Venezuela, Iran, North Korea and Syria. In response, real estate professionals, academics, advocates and nonprofit leaders raised concerns about the costs to the housing market and local economies.

“I am very worried”, said Danny Hertzberg, sales associate at The Jills Zeder Group, a Coldwell Banker affiliate. The New Herald. “While this may be a domestically driven market in the short term, in the long term it could be problematic and have a significant impact.”

Ron Yanks, Keyes’ Broward regional manager, told the newspaper that with immediate approval from Governor DeSantis, his company’s agents Many calls came in from Chinese investors wondering if they should continue their search for property Or you can put your already purchased ones up for sale.

On the other hand, the lawyer argued that Hongwei Shang Most of the Chinese in Florida were not members of the designated political power: “They are ordinary people. In fact, they are being oppressed by the Chinese Communist Party.” And, he assured the site Axios That Florida Asian American groups ready to sue: “The 14th Amendment to the United States Constitution specifically prohibits a state from discriminating against a group of people because of race or national origin.”

The bill, known as SB 264, lists seven “foreign countries of concern.” But much attention has focused on China, a nation devoted to how limitations are applied to its government and its related people. According to the report the mountainThe The law comes into effect from July 1. And it “prohibits government agencies from contracting with foreign countries and corporations and restricts the transfer of agricultural land and other interests in real estate to foreign principals.”

Currently, the majority of buyers of South Florida properties come from Latin America, with Argentina leading the way, followed by Colombia, Peru, Chile, Mexico, Venezuela and Brazil, according to a report. Miami Association of Realtors Released in 2022.

“Florida takes action Counter America’s greatest geopolitical threat: the Chinese Communist Party”, announced DeSantis By approving the bill Monday night. “I am proud to sign this legislation to stop the purchase of our farmland and land near our military bases and critical infrastructure by Chinese agents,” the governor added, according to a statement. report on its official site.

In addition to SB 264, DeSantis signed two other bills (SB 846 and SB 258) that Regulation of donations to educational institutions of any “Concerned Foreign Countries”. Limited, as well as creating a blacklist of apps for smartphones that pose a risk to cyber security and data privacy due to their relationship with these countries.

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