Foreign Investment in South Florida Real Estate: Good and Getting Better According to International Conference of Real Estate Experts
Foreign investment in South Florida is growing and industry experts are predicting that next year, in 2012, there will be even more international interest in the South Florida real estate market. Who are these experts? Lots of folks who should know, since they were the ones in attendance at the Miami International Real Estate Congress.
Held at the Biltmore in Coral Gables, the Miami International Real Estate Congress described its conference as one of "...more than 300 U.S. & worldwide international real estate professionals in Miami for two powerful days. Bringing together our valued global partners & professionals to collaborate & achieve maximum business results."
Real Estate Experts Predict Increased Global Interest in South Florida Real Estate Investment
Conference leaders were uniform in their perception of the South Florida real estate market: an already solid foreign interest in South Florida real estate sales is only going to get bigger next year.
The new president of the National Association of Realtors, Moe Veissi, told the conference that he expects this to be a growing trend for several years, not just 2011 and 2012. International buyers coming to the Miami-Dade area and elsewhere in South Florida will be a growing segment of local real estate investment.
Florida - Number One in US for Foreign Real Estate Investment
The Miami Herald reports that Florida is the number one state in the country for international real estate transactions, with almost one-third of the country's foreign investment transactions in 2011, where total foreign investment in U.S. land was $82 billion. The Herald's numbers show that out of that Foreign Investment pie here in Florida, 30% can be found in the Miami - Fort Lauderdale - Miami Beach real estate market.
At Turks.Us, it's being reported that Miami, in particular, is rebounding now (based upon the Case-Shiller home price index) with 65% of its residential real estate inventory being sold now that foreign investment has come to South Florida.
In fact, Turks points out, if you reference Trulia’s top 10 lists of foreign buyers’ real estate options, Miami shines like the sun on its beaches: this is an extremely beautiful area with great weather - a tempting place to invest, even if you are a foreign investor also looking at real estate in California or Nevada or New York.