International Council of the MIAMI Association of REALTORS

     

                

International Articles and Advertisements

The MIAMI Association of REALTORS® features a half-page article each week in The Miami Herald –International Edition, promoting MIAMI Members and the South Florida real estate market to affluent consumers in Latin America and Europe.

  • Florida is Top Destination for U.S. Commercial Real Estate Investments

    by | Oct 10, 2017
    Print Version

    Florida is the top U.S. destination state for buyer-side commercial investment, according to the National Association of REALTORS® (NAR) Commercial Real Estate International Business Trends 2017. The report’s author, NAR’s George Ratiu, will discuss his analysis at the 2017 RCA Conference hosted by the MIAMI Association of REALTORS® (MIAMI) on Friday, Oct. 13 at the Biltmore Hotel in Coral Gables.

    International clients value Florida and Miami because of its strategic location as a staging area for Latin America. Foreign investors also value the Sunshine State because it has a growing population, a pro-business economy, booming downtowns and a fast-growing industrial sector. Industrial — comprising warehouse and logistics space — is on a long hot streak in South Florida. 

    Top U.S. destination states — Buyer-side Commercial Real Estate Investments

    1. Florida
    2. Texas
    3. California
    4. New York
    5. Arizona
    6. Ohio
    7. Alabama
    8. Michigan
    9. Mississippi
    10. Nevada

    Source: NAR’s Commercial Real Estate International Business Trends 2017

    South Florida Ranks among Tops in Nation for Commercial Investment Gains

    South Florida is one of the top U.S. markets delivering solid returns and safety of capital for global investors, according to new statistics from Real Capital Analytics.

    Miami/South Florida posted 10 percent commercial real estate investment gains in the first half of 2016. Other top performers were Las Vegas (101%), Denver (up 51%) and Philadelphia (up 28%). Fort Lauderdale also posted gains in sales volume, rising up the ranks of top markets.

    South Florida has long been a top destination for international investors. Attractive real estate, proximity to Latin America, cultural offerings, resort lifestyle and global business center are just some of the reasons why foreign nationals invest here.

    International Investment

    REALTORS®’ international clients found U.S. commercial real estate markets a good value in 2016, according to Ratiu’s Commercial Real Estate International Business Trends 2017.

    Based on survey data, 61 percent of respondents’ clients considered U.S. prices to be less expensive than prices in their home countries. Over one-in-ten REALTOR® clients thought prices were on par, while close to a third of international clients found U.S. prices higher than those in their home countries.

    Industrial Real Estate: Miami’s Hottest Asset Class

    Absorption for industrial real estate hit a new record nationally and locally last year. The growth of Amazon, a globe-spanning retail giant that is the fourth most valuable firm on the U.S. stock market, is a major reason why.

    Amazon will soon have 1.4 million square feet of space in the Miami area, according to Jose I. Juncadella, an office and industrial Miami broker and principal of Fairchild Partners. About 20 to 30 percent of all industrial absorption around the world was by Amazon.com, Kasselman said.

    Population growth has propped up all real estate sectors but has favored the industrial sector specifically. The booming tourism industry has also helped fill the region's warehouses. Nearly 60 percent of the goods sitting in local warehouses end up in South Florida.

    2017 RCA Conference

    The Realtors Commercial Alliance of the MIAMI Association of REALTORS® (RCA MIAMI) will present its 17th annual RCA Conference on Friday, Oct. 13 at the Biltmore Hotel in Coral Gables. Five panels and more than 10 speakers will address how real estate professionals can enhance their business by learning the latest trends in all commercial real estate sectors.

    ● Date: Friday, Oct. 13 
    ● Venue: Biltmore Hotel 
    ● Address: 1200 Anastasia Ave., Coral Gables, FL 33134 
    ● Time: 9 a.m. to 2 p.m.

    “From bitcoin and future currency to affordable housing, the 2017 RCA Conference will analyze diverse topics impacting Miami real estate,” said José María “Chepe” Serrano, the 2017 MIAMI Commercial President and the principal at New Miami Realty, Corp. “South Florida commercial practitioners have a unique opportunity to hear from national and local experts."

    Ratiu, the director of quantitative and commercial research with the National Association of REALTORS® (NAR) in Washington, D.C., will provide the keynote address at noon. Ratiu will discuss his recent research report, “Commercial Real Estate International Business Trends 2017,” which ranked Florida as the top U.S. destination state for buyer-side commercial investment.

    RCA Conference Panels

    The 2017 RCA Conference will include panels on the following topics: affordable housing, block chain bitcoin and future currency, future development and design, and real estate investing.

    Andrew M. Hinkes of Berger Singerman will spearhead the discussion on bitcoin, a new digital currency created in 2009 that allows users to buy merchandise anonymously and without banks. Singerman’s session will include buying and selling real estate for digital currencies, how blockchain technology is disrupting real estate markets and more.

    Register at: RCAConference.com

    Registration will be open before the day of the event, from 8-9 a.m. 

    For more information, contact MIAMI Senior VP of Commercial Paul Cauchi at paul@miamire.com or (305) 468-7060.

    Print Version

  • China: A Fast-Growing Segment of South Florida Foreign Buyers

    by | Sep 20, 2017
    PRINT VERSION

    Chinese buyers have increased their South Florida residential property purchases from 1 percent of international sales in 2012 to 3 percent in 2016, according to the 2016 Profile of International Homebuyers of MIAMI Association of REALTORS® (MIAMI) Members. The National Association of REALTORS® (NAR) conducts the annual profile for MIAMI.

    Three percent of international sales is an impressive figure considering South Florida foreign real estate buyers accounted for $6.2 billion of total sales volume in 2016. A 3 percent international sales figure for Miami is higher than most U.S. states have in total international sales.

    Greater Miami’s diversified economy, clean air, award-winning schools, stellar universities, international banking system, infrastructure improvements, name-brand shopping, port expansion and proximity to emerging markets are encouraging major Asian investment. 

    Miami: Top Destination for Chinese Buyers in Florida

    The Miami-Miami Beach metro area ranked as the top destination for Chinese buyers in Florida, according to NAR’s 2015 Profile of International Home Buyers in Florida. About 42 percent of all Chinese buyers purchased in Miami-Miami Beach, the total is 15 percentage points higher than the second-most purchased location (Bradenton-Sarasota-Venice.)

    The Asian-born population in Miami-Dade County increased 10.5 percent from 2010 to 2014, growing from 34,251 to 37,853, according to 2014 U.S. Census population estimates. Asian-born residents accounted for 2.8 percent of the Miami-Dade County population, according to 2014 U.S. Census population estimates. About 19.6 percent of Miami’s Asian residents, or 7,425, identified as Chinese.

    South Florida Educational Institutions Attracting Chinese Interest 
    Miami’s Florida International University, the first U.S. university to establish campuses in China more than a decade ago, has about 5,000 Chinese students in Miami. The parents of these students purchase property for their children and for investment purposes.

    FIU has a partnership with the Tianjin University of Commerce in Tianjin, China. Each year, more than 1,000 FIU students study hospitality and tourism management while learning about the Chinese culture in China. The Marriott Tianjin China Program began in September 2006 and is FIU’s largest program in China.

    The University of Miami has 942 students from China, the most among all foreign countries, according to the school’s 2014 student enrollment figures. Venezuela ranks second with 212 students. The Chinese student population at UM has increased 88.4 percent since 2010-11, when 500 students from China were enrolled.

    Chinese students at UM participate in the University of Miami Chinese Students and Scholars Association (UMCSSA), which was founded in 2012. The UMCSSA facilitates the transition of new incoming Chinese students to University of Miami through monthly meetings, the Mid-Autumn Celebration and the Chinese New Year Celebration.

    Greater Miami is the nation’s eighth-largest college town (438,000 total students), according to the FIU-Miami Creative City Initiative. More than two-thirds of Miami college students stay in the region after graduating — the 16th best retention rate of the nation’s metros with more than 1 million people.

    Miami-to-Asia Direct Flight Could Spur More Investment

    Miami-Dade County government officials and local businessmen have been working on securing a Miami-to-Asia direct flight for years.

    The main obstacle is finding an aircraft capable of traveling the long distance without refueling. In June 2017, Taiwan President Tsai Ing-wen told Miami International Airport that the 8,628-mile, 17-hour flight was possible. A Tokyo-Miami direct flight is a potential route.

    In August 2017, Miami-Dade County Aviation Director Emilio Gonzalez said Miami is two years out from securing a direct flight to Asia. The demand is there. More than 415,000 travelers made connecting flights between Asia and Miami in 2015, which ranked Miami International Airport No. 15 among all U.S. cities with Asian traffic — all without a direct flight.

    Asia is a Strong Miami Trade Partner

    The most recent figures show that nearly 100,000 tons of cargo flow between Miami International Airport and Asia annually, at a value of $5.2 billion, the airport said.

    Miami is in position to increase its international investments, particularly from Chinese buyers. PortMiami, the top-ranked container cargo port in Florida with 900,000 TEUs handled each year, spent $2 billion to deepen its channel from 42-foot depth to 50-52.

    PortMiami is the only U.S. port south of Norfolk, Va. that can accommodate new, mega cargo vessels from the expanded Panama Canal.

    Miami’s Amenities, Affordability Attract Global Clients

    Miami’s global transformation began when Art Basel — one of the largest contemporary-art fairs in the world — chose Miami for its annual American home in 2002. Art Basel Miami Beach annually fields more than $3 billion in art, draws more than 77,000 visitors and attracts more private jets (800) than America’s most-watched sporting event, the Super Bowl.

    In the years following Art Basel’s debut, the hip Miami Design District and the Wynwood Art District gained global attention. New cultural institutions such as Pérez Art Museum Miami, the Institute of Contemporary Art, Miami, and the Frost Museum of Science have added to Miami’s global brand.

    Miami ranks among the most affordable global cities. A 120-square meter condo in Miami-Fort Lauderdale-Miami Beach cost $149,900 on average, according to the National Association of Realtors 2015 Profile of Home Buying Activity of International Clients. The price for the same condo in London ($960,840), Hong Kong ($776,280), and New York ($1.6 million) were at least five times higher.

    PRINT VERSION

     

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