Miami’s Asian InfluxOctober 29, 2015
Now that Miami has gained such a tremendous amount of favor among Asian buyers and investors, it’s amusing to look back and think that such a thing seemed rather ludicrous at one point. After all, why would Asians set their sights on Miami when California provides many of the same qualities? Of course we all know now that Miami real estate is very much in demand among Asians and recent numbers reinforce its present Asian appeal.
There are currently about 45,000 Asians living in Miami per the U.S. Census though the director of Miami-Dade’s Asian-American Advisory Board says that number is closer to 200,000 to 250,000, with Chinese being among the larger groups. Although there are more Chinese investors, the growing numbers suggest an infrastructure may be necessary, such as a Chinese bank or consulate.
Homelink is among China’s largest real estate firms, with more than 3,000 offices in 17 cities employing over 55,000 agents. The company recently joined forces with an Aventura-based real estate firm, marking its first long-term partnership in the state.
China City Construction recently paid a whopping $38.5 million for a .98-acre property in Miami Beach with the intention of using the property as a beachfront hotel or condominium.
This update is brought to you by Julian Johnston of Calibre International Realty. Julian specializes in Miami waterfront homes as well as Miami Beach luxury condos like Apogee South Beach, the two Continuum buildings, the Portofino Tower, and more. Call 305.502.3985 for any questions about Miami real estate or Miami Beach real estate.