Latin American buyers heat up Miami market
U.S. real estate markets are now attracting foreigners in droves. Nearly $92 billion worth of American homes were bought by foreigners during the year ending March 2014, according to a National Association of Realtors survey - an increase of 35% on the previous year. Nearly 7% of all homes on the market are being bought by foreigners.
Favorable exchange rates and affordable home prices are the top reasons, the survey concluded.
Florida remains the top choice, with 23% of all international home sales. California, Arizona and Texas represented 14%, 12% and 6% respectively. The top five cities searched online by international buyers in 2014 were Los Angeles; Miami; Las Vegas; Orlando, Fla.; and New York City.
The market for premium residential property in Miami is dominated by buyers from Latin America, particularly Venezuelans and Brazilians. For many South American buyers, the main motivation for purchasing real estate in the USA is their intent to make a secure investment,The stable political and economic climate in the country makes it an appealing location for investments.
Favorable exchange rates and affordable home prices are the top reasons, the survey concluded.
Florida remains the top choice, with 23% of all international home sales. California, Arizona and Texas represented 14%, 12% and 6% respectively. The top five cities searched online by international buyers in 2014 were Los Angeles; Miami; Las Vegas; Orlando, Fla.; and New York City.
The market for premium residential property in Miami is dominated by buyers from Latin America, particularly Venezuelans and Brazilians. For many South American buyers, the main motivation for purchasing real estate in the USA is their intent to make a secure investment,The stable political and economic climate in the country makes it an appealing location for investments.
20 Top Reasons to Visit & Buy in Miami
1. Affordable Real Estate – The local market offers record affordability, amenities, & seller incentives; 50% more affordable in the last five years; weak U.S. dollar gives greater discounts for foreign buyers.
2. Top Market for Int’l Buyers – Florida is the top state in the U.S. & Miami is the top market for int’l buyers; & is expected to outperform other U.S. markets long into the future.
3. Enviable Weather – The only major “subtropical” city in continental U.S.; average temp. 75 ºF / 23 ºC.
4. Beautiful Beaches – Greater Miami has 84 miles of Atlantic Ocean coastline & 67 square miles of inland waterways & more than 15 miles of world-famous beaches.
5. Water Sports & Activities – Enjoy snorkeling, sailing, boating, kayaking, swimming, diving & other water sports all year around.
6. Exciting Lifestyle for All – young adults, families, baby boomers, retirees, celebrities, & visitors – museums, performing arts venues, art galleries, professional sports, & amazing places to shop.
7. Fabulous Nightlife – Ocean Drive & more – top restaurants, night clubs, bars, world famous hotspots.
8. Restaurants – In Miami you can savor worldwide cuisine unlike in any other city in the U.S.
9. Entertainment Industry – Major fashion center, top modeling agencies in the world, Fashion Week & more than 2,400 motion picture & video businesses.
10. Commercial & Investment Real Estate – Vacancy rates for all commercial sectors in Miami are below the national average; retail & multi-family are outperforming most major markets in the U.S.
11. “Gateway to the Americas” – Strategic location between Latin America & Europe; “Capital of the Americas” – perfect for business or pleasure.
12. The Most Int’l City in the U. S. – nearly 50% of population is foreign born & speak over 100 languages.
13. Global Business Center – for business, finance, commerce, media, entertainment, arts & international trade; no state income tax; home to nearly 1,200 multinational companies from 56 nations; more than 100 international consulates, trade offices & bi-national chambers of commerce.
14. Hotels – ranks fifth in US in occupancy after New York, Oahu Island, San Francisco, & Boston.
15. Top Tourist Destination – 12.6 million overnight guests – with 6 million of them int’l visitors.
16. World Aviation Hub – 3rd in the U.S. with 33.5 million passengers a year; Over 80 airlines to 120 destinations – top freight airport in the U.S. with 1.8 million tons – $19 billion in business revenue/year.
17. Port of Miami – “Cruise Capital of the World” with more than 4 million passengers a year; Also
serves 240 seaports; 9 million tons of sea cargo; top markets: China, Italy, Hong Kong, Honduras & Brazil.
18. Educational Institutions – 4th largest U. S. school district; 5 colleges & universities; 3 law schools.
19. Hospitals – 33 hospitals; Jackson Memorial is one of the top 25 hospitals in the U. S. & Miami Children’s Hospital is rated the top pediatric hospital in the country.
20. Top Rankings:
- Miami has the largest concentration of international banks in the U.S.
- Miami’s skyline ranks third in the U.S. behind New York City & Chicago & 18th in the world.
2. Top Market for Int’l Buyers – Florida is the top state in the U.S. & Miami is the top market for int’l buyers; & is expected to outperform other U.S. markets long into the future.
3. Enviable Weather – The only major “subtropical” city in continental U.S.; average temp. 75 ºF / 23 ºC.
4. Beautiful Beaches – Greater Miami has 84 miles of Atlantic Ocean coastline & 67 square miles of inland waterways & more than 15 miles of world-famous beaches.
5. Water Sports & Activities – Enjoy snorkeling, sailing, boating, kayaking, swimming, diving & other water sports all year around.
6. Exciting Lifestyle for All – young adults, families, baby boomers, retirees, celebrities, & visitors – museums, performing arts venues, art galleries, professional sports, & amazing places to shop.
7. Fabulous Nightlife – Ocean Drive & more – top restaurants, night clubs, bars, world famous hotspots.
8. Restaurants – In Miami you can savor worldwide cuisine unlike in any other city in the U.S.
9. Entertainment Industry – Major fashion center, top modeling agencies in the world, Fashion Week & more than 2,400 motion picture & video businesses.
10. Commercial & Investment Real Estate – Vacancy rates for all commercial sectors in Miami are below the national average; retail & multi-family are outperforming most major markets in the U.S.
11. “Gateway to the Americas” – Strategic location between Latin America & Europe; “Capital of the Americas” – perfect for business or pleasure.
12. The Most Int’l City in the U. S. – nearly 50% of population is foreign born & speak over 100 languages.
13. Global Business Center – for business, finance, commerce, media, entertainment, arts & international trade; no state income tax; home to nearly 1,200 multinational companies from 56 nations; more than 100 international consulates, trade offices & bi-national chambers of commerce.
14. Hotels – ranks fifth in US in occupancy after New York, Oahu Island, San Francisco, & Boston.
15. Top Tourist Destination – 12.6 million overnight guests – with 6 million of them int’l visitors.
16. World Aviation Hub – 3rd in the U.S. with 33.5 million passengers a year; Over 80 airlines to 120 destinations – top freight airport in the U.S. with 1.8 million tons – $19 billion in business revenue/year.
17. Port of Miami – “Cruise Capital of the World” with more than 4 million passengers a year; Also
serves 240 seaports; 9 million tons of sea cargo; top markets: China, Italy, Hong Kong, Honduras & Brazil.
18. Educational Institutions – 4th largest U. S. school district; 5 colleges & universities; 3 law schools.
19. Hospitals – 33 hospitals; Jackson Memorial is one of the top 25 hospitals in the U. S. & Miami Children’s Hospital is rated the top pediatric hospital in the country.
20. Top Rankings:
- Miami has the largest concentration of international banks in the U.S.
- Miami’s skyline ranks third in the U.S. behind New York City & Chicago & 18th in the world.
- Miami is the only major city in the United States bordered by two national parks, Everglades National Park on the West, & Biscayne National Park on the East.It’s great to live, work & play in Miami.
It’s great to live, work & play in Miami!
Comments
Post a Comment