pWhy Invest in South Florida Real Estate? Sustained population growth over the past 20+ years •270,000 new residents since 2000 in Miami-Dade & Broward Counties •Strong international migration to South Florida, especially from Latin America •Growth expected to continue at same pace over the next ten years plus •Greater Miami has over 150 ethnicities and more than 80 languages are spoken §Strong tourism industry that draws visitors from around the world •More than 35,000,000 visitors in 2008 by air and sea •19.8% increase in tourism since 2002 •Miami is the busiest seaport in the world for cruise passengers • Subtropical, average daily temperature is76 degrees with year round sunshine Strong economic growth over past decade §Miami-Dade led the state in job growth over the past ten years §Large employment in real estate, finance, legal, tourism and retail in South Florida §No state income tax and low sales tax rates §Miami-Dade is the 10 largest recipient of direct foreign investment pSouth Florida is an international market §South Florida accounts for the largest share of foreign home buyers in Florida §Latin Americans make up the largest share of foreign buyers §60% of foreign buyers pay cash for real estate pReal Estate Prices in South Florida §Prices peaked in December 2006 §By December 2008, prices have fallen by 41.25% Economic Facts Miami-Dade Metro area has lead the state in new job creation over the past five years. Overall Florida job growth was 21.2% from 2000-2006 Miami-Dade (6.8%) has one of the lowest unemployment rates in Florida (8.6%) as of January, 2009 10 Largest Recipient of direct foreign investment. Several companies have their Latin American HQ offices in Miami, including UPS, FedEx, Discover Channel, HP, American Express, Avaya, IBM, HBO & Exxon Florida has no state income tax and the sales tax rate is relatively benign (5.5%) Other Notables: More than 500 multinational corporations have offices in Miami-Dade County 61 foreign consulate offices are located in Miami-Dade County 25 foreign trade offices are located in Miami-Dade County 40 bi-national chambers of commerce operate in Miami-Dade County Source: Beacon Council; Miami-Dade Government, State of Florida (www.beaconcouncil.com; www.miami-dade.gov) An International Market Florida is the top destination for foreign home buyers in the US §Miami – Fort Lauderdale accounts for the largest share of foreign home buyers in Florida (21%) §60% of foreign buyers pay cash for their property purchases §81% of foreign buyers purchase for use as a vacation home §12% buy for rental income purposes §46% of buyers in Miami-Fort Lauderdale or from Latin America the Market start picking up and shoppers are all around. Get your feet wet and seek for the opportunity, for more info contact |