Foreign investors have been flocking to South Florida for its real estate investment opportunities for decades, however, more so than the European buyers, individuals from Central and South America have now come to the shores of Miami. South Florida’s strategic location gives it a global competitive advantage when attracting foreign real estate buyers specifically from Brazil, Venezuela, and Argentina.
According to the Miami Association of Realtors, Venezuelans have led the Miami condo market resurgence, accounting for 28% of unit purchases among international investors in Miami. Currently, Canada stands at 10% of international investment, followed by Brazil at 9%. These global investors are bringing capital to the local economy by purchasing both commercial and luxury properties, which has helped South Florida’s revival in this market. From 2010 to 2011, real estate purchases have totaled to $82 billion in the United States, of which, 33% is in Florida.
Florida offers an appealing platform for foreign investors with its culturally diverse business environment, international workforce, and prime beach front real estate. The best way to learn more about doing business in this unique field is to hear it straight from the real estate experts at the upcoming “What You Need to Know” luncheon. On Friday, September 16th, the Miami Beach Chamber of Commerce in partnership with the Miami Association of Realtor will host the “Foreign Real Estate Investing in South Florida- What you need to Know,” Real Estate Luncheon at the W Hotel in South Beach from 11:00 a.m. to 2:00 p.m.
This year’s panel includes Teresa King Kinney, Miami Association of Realtors, Kobi Karp, Kobi Karp Architecture and design, Jay Parker, Clear Title Group, James Campanella, City National Bank, Jeffrey Blinn, Morrison, Brown, Argiz & Farra, LLC and Madeleine Romanello, Douglas Ellimen Florida. The panelists will share their expertise with foreign investment in Miami to educate the local community of the positive turn the market has taken and how to keep international investor’s eyes on South Florida.
It is the mission of the Miami Beach Chamber’s Real Estate Council to share expertise and offer guidance to educate Chamber members and realtors around the Miami-Dade community. Melissa Rubin, Vice President of Platinum Properties International boutique real estate firm and Co-Founder and Chair of the Chamber Real Estate Council, said, “The importance of this Real Estate Luncheon is to discuss additional trends and provide tips to our business community on how to capture and understand the value of foreign investments in Miami.”
Last year, the “The New Now” Real Estate Luncheon attracted over 250 attendees with a panel including W South Beach’s developer, David Edelstein. This year’s “What You Need to Know” luncheon anticipates to be sold out as a result of last year’s success. All interested parties in the should RSVP to reserve tickets by visiting www.miamibeachchamber.com.