Miami's billion-dollar real estate boom

Billions of dollars from foreign investors may propel Miami into the ranks of the world's elite cities.

Condos aside, direct foreign investment in Miami commercial real estate also has rebounded, hitting $472 million this year. That marks a huge jump from 2010's $16 million, though well off the recent peak of $1.5 billion in 2008, according to Real Capital Analytics, a New York research and consulting firm. Market analysis director Ben Thypin says the $472 million figure is almost certainly understated because the firm tracks only direct commercial investments of more than $2.5 million, not individual condo purchases or investments through conduits. "A lot of people in the industry have been shocked by how less volatile Miami was in the last few years," Thypin says.

Hernandez, a native of Venezuela who has built in Florida for 20 years, says "what you're seeing nowadays is unprecedented." Miami always has drawn foreign investors interested in a condo or two or a single commercial property. "Now what we're seeing is a lot of the tier-one investors," Hernandez says. "They see Miami has all the potential to be at another level in three or five years, and they're paying top dollar. These guys from Asia are grabbing everything." [Florida Trend] 

Where are your Miami property buyers from?

How do you reach them and bring them through the door?

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
October 25 2013 - Miami
We think we've answered this question for you!
 
 
Related Discussions
Miami's billion-dollar real estate boom
What about investing in Miami Condos?
Profile picture for Cheryl  Talbot Real Estate
Latest reply by Cheryl Talbot Real Estate
November 27 2011 | 2 answers
factors considered by Zestimate
Profile picture for wetdawgs
Latest reply by wetdawgs
April 29 2011 | 5 answers
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.

Homes for Sale
  1. 2203 SE 23rd Rd, Homestead, FL Home For Sale
    2203 SE 23rd Rd, Homestead, FL 33035

     For Sale: $1

    • Beds: 3
    • Sqft: 1846
    • Baths: 2.5
    • Lot: 1306
  2. 7935 SW 86th St APT 826, Miami, FL Home For Sale
    7935 SW 86th St APT 826, Miami, FL 33143

     For Sale: $195,000

    • Beds: 2
    • Sqft: 1140
    • Baths: 2.0
    • Lot: --
  3. 14720 NE 5th Ct, Miami, FL Home For Sale
    14720 NE 5th Ct, Miami, FL 33161

     For Sale: $100

    • Beds: 3
    • Sqft: 2140
    • Baths: 2.0
    • Lot: 10018