A new CBRE report shines light on the growing interest among Asian investors for South Florida’s luxury real estate and multi-family real estate market.
Miami actually ranks in the top 5 U.S. markets with only New York ranking higher on the east coast, the remainder of the top cities on the west.
CBRE Capital Markets offers an explanation for South Florida’s attraction to Chinese and Japanese real estate investors:
“Investors are also considering multifamily opportunities in markets such as Seattle, Salt Lake City, Jacksonville, and South Florida where the strategy is generally to target areas surrounding universities or other enclaves that attract a disproportionate number of Chinese nationals, whom developers believe can be enticed as potential tenants or investment buyers of condo units.”
South Florida’s universities are world renown and growing rapidly. The University of Miami, Florida International University, Johnson and Wales University, et al, continue to add to the rich culture, innovation and prosperity of the community. The gorgeous weather and luxury neighborhoods must factor strongly in the real estate purchase consideration of Asian investors.