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Will Trump’s travel ban on Venezuelans affect Miami’s real estate market?
President Trump extended his controversial travel ban to include Venezuela, causing momentary panic among Venezuelan investors of Miami real estate.
The order, which bans most citizens from Iran, Libya, Syria, Yemen, Somalia, Chad and North Korea, only bans some Venezuelan government officials and their families from entering the United States effective Oct. 18, according to the White House.
For Venezuelan-born EB-5 developer Rodrigo Azpurua, the news was “concerning.” Azpurua, CEO of commercial real estate firm Riviera Point Development Group, said about 70 percent of his EB-5 investors are Venezuelan. His office received a handful of calls from worried investors, and is working on sending out a blog post explaining the White House’s ban.