Broward Council of the MIAMI Association of REALTORS

                                                                                                     

                

  • Colombia Continues to be Top Country Searching for Miami Homes

    Jul 09, 2018
    Colombian consumers registered the most international web searches for Miami homes in March, according to a new report by the MIAMI Association of REALTORS® (MIAMI). Colombia registered 11.9 percent of all international searches on MIAMI’s portal, www.MiamiRealtors.com, in March 2018. Colombia has led the rankings for four consecutive months.
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  • South Florida Multifamily Transactions, Prices Rise in 1Q

    Jun 26, 2018
    South Florida multifamily real estate transactions jumped 8.5 percent year-over-year in 1Q 2018 and per-unit multifamily prices increased in Miami-Dade, Broward and Palm Beach counties, according to the new 1Q 2018 The Quarterly Report – South Florida Commercial Real Estate
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  • JTHS-MIAMI Realtors Collect 364 Pounds of Food for Needy Palm Beach Residents

    Jun 25, 2018
    The Jupiter-Tequesta-Hobe Sound Council of the MIAMI Association of REALTORS® (JTHS-MIAMI) collected 364 pounds of non-perishable food for the Palm Beach County Food Bank in April as part of its annual JTHS-MIAMI’s “Move for Hunger” Food Drive.
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  • Colombia Leads Countries Looking for Miami Homes in February

    Jun 25, 2018
    Colombian consumers registered the most international web searches for Miami homes in February, according to a new report by the MIAMI Association of REALTORS® (MIAMI). South Florida remains the most-searched U.S. market by international consumers and a top-five market for homebuyers in the world’s six largest regions, according to February data.
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  • Miami Luxury Home Sales Jump in May 2018

    Jun 20, 2018
    Total Miami luxury home sales rose 24.1 percent year-over-year in May as existing condominium sales rose for the second consecutive month, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
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  • Miami Realtors Join Chapman Partnership to Feed Homeless

    Jun 18, 2018
    Continuing its changing communities initiative, MIAMI Association of Realtors (MIAMI) members and peers again fed dinner to 500 homeless residents on June 14 at the Chapman Partnership’s Downtown Miami Homeless Assistance Center.
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  • Miami Existing Condo Sales Jump 24.6 Percent in April

    May 24, 2018
    Miami’s existing condominium market posted its best April in three years as condo transactions jumped 24.6 percent and condo dollar volume surged 40.8 percent year-over-year, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system. Miami single-family home sales and residential prices rose.
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  • MIAMI REALTORS® Launches MIAMI Platinum PLUS for its Members

    May 17, 2018
    The MIAMI Association of REALTORS® (MIAMI) is now offering its members subscriptions to MIAMI Platinum PLUS, an exclusive and unparalleled suite of upgraded Realtor products and services, so Realtors can utilize an even higher level of industry tools to improve and expand their business while enhancing the home buying and home selling process for the public.
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  • Miami Luxury Home Sales Soar in 1Q 2018

    May 15, 2018
    Total Miami luxury home sales surged 12.3 percent in 1Q 2018 as median prices rose for the 25th consecutive quarter, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
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  • MIAMI REALTORS CEO Named to South Florida’s Most Influential Business Women

    May 14, 2018
    MIAMI Association of REALTORS® (MIAMI) Chief Executive Officer Teresa King Kinney was named one of the top 25 Most Influential Business Women in South Florida. The South Florida Business Journal honored Kinney’s strong record of leadership, community involvement and industry innovation at an event on May 11 in Fort Lauderdale.
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  • Miami Luxury Single-Family Home Sales Jump in March

    Apr 23, 2018
    Miami luxury single-family home sales posted double-digit gains as median prices for all properties continued rising in March, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
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  • South Florida Industrial Real Estate Prices, Transactions Rise in 4Q

    Apr 23, 2018
    South Florida industrial real estate prices increased 11.4 percent year-over-year in the 4Q 2017 and the Miami-Dade, Broward and Palm Beach tri-county region posted its second highest industrial transaction volume for the year,
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  • Patricia Anglero Elected 2018 Broward President of the MIAMI Realtors

    Apr 07, 2018
    The MIAMI Association of REALTORS® (MIAMI) has elected Fort Lauderdale broker Patricia C. Anglero as its 2018 Broward Council president. She and all of MIAMI’s leadership boards were installed Feb. 2 at the MIAMI 2018 Inaugural and Awards Celebration.
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  • MIAMI REALTORS Commercial Partners with Research and Data Firm Vizzda to Provide South Florida Commercial Statistics Reports

    Apr 05, 2018
    MIAMI Association of Realtors Commercial (MIAMI Commercial) has formed a strategic alliance with Vizzda (Visual Data) to provide The Quarterly Report – South Florida Commercial Real Estate, which will offer comprehensive commercial research and statistics to MIAMI’s 46,000 members and the consumers they serve.
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  • MIAMI Realtors Commercial Association Rebrands as MIAMI Commercial

    Apr 05, 2018
    The MIAMI Association of REALTORS® (MIAMI) has rebranded its commercial real estate organization, to MIAMI Commercial. MIAMI Commercial’s new name and logo is part of MIAMI’s successful expansion of the commercial reach of the Miami Association of Realtors that enhances the 25-year-old organization, which was formerly the Realtors Commercial Alliance MIAMI (RCA MIAMI).
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  • Miami Condo, Luxury Home Sales Rise in February  

    Mar 21, 2018
    Miami existing condominium and total luxury home sales increased in February, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
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  • Miami Realtors Expands Presence of South Florida Real Estate at Global Expo

    Mar 14, 2018
    The MIAMI Association of REALTORS® (MIAMI) has increased its presence by 400 percent at the world’s largest commercial real estate conference, MIPIM. MIAMI Realtors will have exhibits promoting South Florida at MIPIM from March 13-16 in Cannes, France as part of the National Association of REALTORS® (NAR) expanded U.S. pavilion. This year, MIAMI has significantly expanded the U.S. and MIAMI/South Florida presence by adding its own adjacent exhibit space.
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  • Colombia Leads Countries Looking for Miami Homes in January

    Mar 13, 2018
    Colombian consumers registered the most international web searches for Miami homes in January, according to a new report by the MIAMI Association of REALTORS® (MIAMI). South Florida remains the most-searched U.S. market by international consumers and a top-five market for homebuyers in the world’s six largest regions, according to January data.
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  • Urgent Legal Alert from Florida REALTORS General Counsel

    Mar 06, 2018
    Recently, Florida Realtors became aware of several lawsuits filed against real estate brokers in Miami Dade and Broward counties concerning allegations of discriminatory advertising—a violation of fair housing laws. Specifically, brokers are being sued for discriminating against tenants with Section 8 vouchers. These violations, however, pertain to local ordinances, not the Federal Fair Housing Act. Under these local ordinances, landlords and Realtors are precluded from discriminating against tenants with Section 8 vouchers, as this falls under the protected class "source of income."
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  • Miami Condo, Single-Family Home Sales Jump in January

    Feb 22, 2018
    Miami existing condominium and single-family home sales rose in January as $1 million-and-up luxury transactions jumped for all properties, according to a new report by the MIAMI Association of REALTORS® (MIAMI) and the Multiple Listing Service (MLS) system.
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Miami Leads the U.S. in International Immigration Growth

by | May 01, 2017
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Miami was the top U.S. city for growth from international immigration last year, a sign of the global demand to live, work and play in sunny South Florida.

 

Miami’s population increased 1.1 percent from international immigration, the highest of any U.S. metro area, from 2015 to 2016, according to U.S. Census numbers from March 2017. Many of the immigrants are highly-educated, according to a 2017 study by Florida International University and the Creative Class Group. Miami ranked No. 1 in the nation for the percentage of foreign-born in its highly educated ranks (some college through Ph.D. holders).

The foreign born comprise nearly four out of 10 of the South Florida professional workers in business, the sciences, tech, education, media and the arts.

Cultural diversity is critical for a strong economy. Businesses in a multicultural, multilingual regions like South Florida can draw employees from different backgrounds and experiences and those contrasting perspectives create innovative ideas and industries.

This innovation is critical for cities as they aim to stay competitive in the global marketplace. With its long history of welcoming all cultures, Miami is positioned to continue its growth. While other U.S. cities have stopped adding residents, Miami is growing its population and adding jobs – two factors that will boost the local real estate market.

Miami, which is America’s most diverse city with 51 percent of its residents foreign born, is seeing the positive impact from its cultural diversity. The region’s unique diversity has long attracted home buyers from around the world, but it’s also spurring a South Florida population boom and launching major startup businesses and commercial development.

Companies want to relocate to Miami to reach Latin America or to provide a U.S. foothold for Latin American Tech entrepreneurs. Miami startups brought in $49.4 million in VC funding in 2014, while existing VC-backed companies including health care IT provider CareCloud and mobile app developer KidoZen saw continued success.

Thanks to its increase in international residents, the Miami-Fort Lauderdale region eclipsed Los Angeles in 2012 as the major metropolitan area with the largest share – 45 percent – of immigrant business owners, according to a report by the Fiscal Policy Institute, a research group.

Local Economy Adding Jobs
Once reliant on just tourism and real estate, Miami has diversified its economy to become one of the world’s top business hubs. Global entrepreneurs and companies are routinely relocating here because of our strong startup network, reputation for aggressive development, and multilingual population.

The region’s business growth is one reason why the personal finance website Wallet Hub recently ranked Miami as the second-fastest growing economy among large U.S. cities.

Austin, Texas (population: 912,791) was the only large-sized U.S. city to perform better than Miami.  Wallet Hub studied 515 cities, 64 with a population greater than 300,000, and analyzed a host of economic statistics for growth in jobs, population, median household income, new businesses, home values, and other factors from 2010 to 2014.

The local population is also getting more educated, a key factor in a growing economy. The share of Miami-Dade residents with graduate degrees increased 7.5 percent from 2013 to 2014. The population has seen a 12 to 17 percent growth in associate, bachelor and graduate degrees.

Miami’s Diversity Driving Population Growth
South Florida is now the nation’s eighth largest metropolitan area, and Miami’s ability to attract international residents is a large reason why. Miami-Dade/Broward/Palm Beach metro area surpassed six million residents for the first time earlier this year.

Of the 500,000 new residents who moved to the Miami, Broward, Palm Beach metro area over the last five years, about 65 percent (335,000) came from other countries, according to new U.S. Census data. South Florida’s tax environment (no state income tax in Florida), growing tech industry and infrastructure improvements are leading more Americans to relocate to Miami.

The world is drawn to Miami because Miami speaks their language. Fifty-six different languages are spoken among the student population at Miami-Dade County Public Schools. When you analyze the tri-county South Florida region, 128 languages are spoken in Miami-Dade, Broward and Palm Beach counties, according to a 2015 U.S. Census Bureau report.

Miami Welcomes All Cultures
Unlike any other part of the world, Miami welcomes all nationalities and languages. Miami is home to Cubans, Venezuelans, Brazilians, Argentines, Russians, French, Nicaraguans, Chinese and many other foreign-born natives.

In Florida, Miami and Fort Lauderdale account for 50 percent of foreign sales, according to the 2015 Profile of International Home Buyers in Florida. Foreign real estate buyers accounted for 36 percent or $6.1 billion of total sales volume in South Florida, according to the 2015 Profile of International Home Buyers in Miami Association of Realtors Business Areas.

Art, Culture, Transit Attracting Residents
Miami’s cultural and art institutions are also influencing the region’s population growth. Miami Beach’s Art Basel show draws the world’s top collectors, and the Wynwood neighborhood has gained national and global attention for its trendy local art.

The Adrienne Arsht Center for the Performing Arts and the waterfront Pérez Art Museum Miami (PAMM) opened recently in Downtown Miami. The $305 million Patricia and Phillip Frost Museum of Science adjacent to PAMM will open later this year.

Greater Downtown Miami has seen a 99.6-percent population increase since 2000, growing from 40,466 to 80,750 residents. Brickell — which is the core of Miami’s banking, investment and financial centers — has seen the largest increase in downtown, growing from 12,904 residents in 2000 to 32,489, according to the Miami Downtown Development Authority.

Downtown’s public transit, cultural institutions and growing population are encouraging many of these developments. Miami’s Metrorail Orange Line now takes travelers from the airport to downtown. Also, All Aboard Florida is building a new rail service, which will run 30-plus trains a day to Orlando with stops in Fort Lauderdale and West Palm Beach by 2017.

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