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.

  • Miami’s Sports Franchises Extend South Florida’s International Appeal

    by | Feb 01, 2017
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    International home buyers are attracted to Miami for its weather, resort lifestyle, cultural institutions, name-brand shopping, nightlife and more. Major professional sports is another allure.

    International home buyers want world-class entertainment, and Miami’s three major sports squads are providing it in new or relatively new venues. The NBA’s Miami Heat, Major League Baseball’s Miami Marlins and NFL’s Miami Dolphins have each won championships and gained international recognition.

    Major professional sports do more for a city than just instill civic pride. Sports brand a city globally, attract new residents and fuel commercial investment. Take the story of the 2012 and 2013 LeBron James-led Miami Heat NBA championship teams.

    The “Big Three” (LeBron, Dwayne Wade and Chris Bosh) shined the already hot spotlight even brighter on Miami. The Heat’s run to four consecutive NBA Finals led to more TV coverage and more exposure. Miami’s breathtaking skyline and beaches were shown nightly during games. Those same shots aired in many international countries, including China, as the NBA is America’s most global game.

    The Heat sold out every game during LeBron’s run, but a more impressive feat happened outside of American Airlines Arena in Downtown Miami. The economic impact of the Miami Heat and the area totaled $1.4 billion a year, according to a Miami Downtown Development Authority study.

    Downtown Miami’s resurgence was underway when LeBron signed with Miami in 2010, but his success helped encourage residents, business owners and developers to relocate or do more business in Miami.

    Today, Downtown Miami has more than doubled its population to 80,000 in the last decade. Realtor.com named Downtown Miami as the nation’s fourth-fastest growing neighborhood. Downtown cultural institutions like the Adrienne Arsht Center for the Performing Arts and the Perez Art Museum are attracting new residents and businesses.

    Downtown now features more than 392 restaurants and bars and improved public transit. All Aboard Florida, a new Downtown Miami-to-Orlando passenger train, is being built and will include 163,000 square feet of commercial and retail space in downtown. The $1.05 billion Brickell City Centre, which opened recently, and the $1.7 billion Miami Worldcenter have arrived or are on their way.

    Miami Dolphins
    Launched in 1966, the Dolphins are Miami’s oldest and longest-running major professional sports franchise.

    No pro football club in history has ever moved from expansion team to Super Bowl champion like the Dolphins. In their sixth season, Miami became the only NFL team to ever record a perfect season.

    The Dolphins went 17-0-0 to win Super Bowl VII in 1972. The Dolphins also won Super Bowl VIII. Their combined 1972-73 record was 32-2, an all-time mark.

    Fan support was strong. In 1973, the Dolphins established an NFL record with 74,961 season ticket sales. Miami has made the playoffs since, but haven’t won another Super Bowl championship.

    Today, the Dolphins play in state-of-the-art Hard Rock Stadium in Miami Gardens. Owner Stephen Ross spent roughly a half billion dollars to modernize the stadium last year. The improvements included a $250 million shaded canopy. The Dolphins’ home stadium has hosted five Super Bowls, America’s most-watched sporting event. Miami will host another Super Bowl in 2020, the NFL announced.

    Hard Rock Stadium isn’t just for football. The Brazil men’s national team will play a series of matches at Hard Rock; Real Madrid will visit the stadium in 2017. The stadium is also Miami-Dade County’s only true outdoor concert venue. The stadium plans to host major music festivals and more.

    Miami Heat
    As mentioned above, the Heat have passionate fans around the globe and three NBA titles.

    Launched in 1988, the Heat have a long-term lease at the American Airlines Arena in Downtown Miami. The arena hosted the 1990 NBA All-Star Game.

    Miami Marlins
    The Marlins, who began playing in 1993, are a two-time World Series champion.

    In 1997, the Marlins became the first wild-card team to win the Series, in only their fifth season. In 2003, the Florida Marlins shocked the world by defeating the New York Yankees four games to two.

    For the first 19 years of its existence, the team played its home games at Sun Life Stadium in Miami Gardens. In 2012, it moved into the newly-constructed Marlins Park in Miami’s Little Havana.

    Marlins Park is a state-of-the-art, indoor park. Like Hard Rock, Marlins Park is used for many events such as high school graduations, concerts, international soccer matches, college bowl games and car races.

    Marlins Park will be the site of a major international sporting event this summer when the Marlins host the Major League Baseball All-Star Game. It’s the first time the franchise has hosted the Midsummer Classic, which garners more than 8.7 million TV viewers.

    Major League Soccer coming to Miami?
    Legendary soccer player and global icon David Beckham is planning to build a new, 25,000-seat Miami stadium for a new Major League Soccer expansion team. Multiple reports say the team may begin playing in 2019.

    Soccer, of course, is the world’s most popular sport. According to FIFA’s most recent Big Count survey, there are 265 million players actively involved in soccer around the world, roughly about 4 percent of the world’s population.

    Soccer is a perfect fit for South Florida as the region is an international melting pot with many residents coming from countries where fùtbol is a national passion. In addition to its diverse community, South Florida has direct access to Europe and Latin America and annually ranks among the highest rates of TV soccer viewership in the United States.

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  • New 2016 South Florida International Real Estate Report Released

    by | Jan 25, 2017
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    According to the new 2016 Profile of International Home Buyers of MIAMI Association of REALTORS® (MIAMI) Members conducted by MIAMI and the National Association of Realtors (NAR), foreign home buyers spent more on South Florida homes and purchased more local residential properties in 2016 than the year before.

    The fifth annual survey, which includes data from Miami-Dade, Broward, Palm Beach and Martin counties, ranks countries of origin and highlights key characteristics of foreign buyers.

    “Our new South Florida international real estate report shows a more diverse group of countries purchasing Miami real estate,” said Christopher Zoller, the 2017 MIAMI chairman of the board. “Miami continues to be one of the world’s top destinations for international home buyers.”

    More than half of all international home sales in the entire state of Florida (52 percent) happen in Miami-Fort Lauderdale-West Palm Beach, according to NAR’s 2016 Profile International Residential Real Estate Activity in Florida.

    About 80 percent of all South Florida international home sales take place in Miami-Dade County, according to the new MIAMI and NAR report. The report showed a foreign buyer sales volume for the following counties: Broward (16.4 percent), Palm Beach (3.0 percent) and Martin (.4 percent).

    Foreign buyers purchased $6.2 billion of South Florida residential properties in 2016, up from $6.1 billion a year ago, according to the MIAMI and NAR report. International unit sales also increased to 24 percent of total sales in South Florida, up from 22 percent in 2015.

    Top Countries Investing in South Florida
    The countries of origin for consumers purchasing properties in Miami-Dade, Broward, Palm Beach and Martin counties are:
    1. Venezuela (15 percent of South Florida foreign purchases)
    2. Argentina (11 percent)
    3. Brazil and Colombia (10 percent each)
    4. Canada (6 percent)
    5. Mexico, France & Peru (4 percent each)

    The top tier countries of origin — Venezuela, Argentina, Brazil, Colombia, Canada, Mexico, France and Peru — account for 64 percent of total South Florida international closed sales.

    By dollar volume, Venezuela, Brazil, Argentina, Canada and Colombia accounted for nearly half of the $6.2 billion of South Florida international home sales in 2016. Venezuelan and Brazilian buyers topped the list with $868 million and $861 million in sales volume, respectively.

    The top tier of countries continues with each at 3 percent of international sales:
    - Italy
    - Ecuador
    - China
    - Dominican Republic
    - United Kingdom

    Next tier countries of origin are: Spain, Germany, Australia, Honduras, South Korea, Russia, India, Costa Rica, Japan, Malaysia, Chile, Panama, Nicaragua and Portugal.

    Top Countries by County
    The top countries of origin for consumers purchasing properties in Miami-Dade are:
    1. Venezuela (17 percent)
    2. Brazil (15 percent)
    3. Argentina (14 percent
    4. Colombia (8 percent)
    5. Italy, Mexico & Canada (4 percent each)

    Other top countries include Canada, France, China, the Dominican Republic and Peru.

    The top countries of origin for consumers buying real estate in Broward County are:
    1. Venezuela (18 percent)
    2. Colombia (17 percent)
    3. Canada (13 percent)
    4. Argentina (12 percent)
    5. Brazil (10 percent)

    The top countries of origin for consumers buying real estate in Palm Beach County are:
    1. Canada (30 percent)
    2. Venezuela (9 percent)
    3. Brazil, Germany & Italy (7 percent each)
    4. Argentina, Colombia, Ireland & Russia
    (4 percent each)

    The top countries of origin for consumers buying real estate in Martin County are:
    1. Canada (21 percent)
    2. Australia & Brazil (13 percent)
    3. Germany & Venezuela (8 percent each)

    Additional Survey Highlights
    - Foreign home buyers spend more on average on real estate than other buyers, and MIAMI real estate buyers spend even more on average than other international buyers in the state of Florida or nationally.

    South Florida international home buyers paid $570,000 on average for residential properties. In comparison, all MIAMI buyers spend $352,900 on average. Foreign buyers of Florida Realtors members spend $412,100 on average, while foreign buyers in the U.S. spend $477,500 on average.

    - Miami has about double the number of all-cash buyers than the national average. International home buyers in South Florida comprise an even larger percentage of all-cash buyers. According to the new MIAMI and NAR survey, about 72 percent of all international residential transactions in South Florida were made in all-cash.

    - South Florida international home buyers prefer condominiums (55 percent) in the central/urban areas (58 percent), which they intend to use mainly as residential rental, vacation home or both (75 percent).

    - About 5.5 percent of South Florida foreign buyers purchased local homes without even visiting Florida. About 19.7 percent purchased with just one visit to Florida; 25.4 percent purchased with just two visits; 22.1 percent bought after visiting Florida three times.

    - South Florida international buyers purchased 10,885 residential properties in 2016 compared to 10,678 the year before, a 1.93 percent increase.

    - About 70 percent of MIAMI members work with international buyers. That’s more than double the national figure of 31 percent, according to NAR.

    Survey results reflect MIAMI’s commitment to increasing South Florida’s real estate brand worldwide and the Miami real estate market’s position as a top international destination.

    MIAMI has 160 partner organizations worldwide and conducts international outreach on a global level.

    The 2016 survey provides information on the international residential transactions of MIAMI members from August 2015 through July 2016.

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