Phone : 813 476 3199
Email : investment.team@btgh.com

Florida RE News

China’s Xi Jinping Visit to Mar-a-Lago puts Florida Real Estate on Display

At Apr 05, 2017
Reprinted without any permission or warning from this article, BY KENNETH RAPOZA
CONTRIBUTOR FOR FORBES.

BY KENNETH RAPOZA, CONTRIBUTOR, FORBES

BY KENNETH RAPOZA
CONTRIBUTOR FOR FORBES

Next month, China’s president Xi Jinping will visit Donald Trump at his Mar-a-Lago estate in Florida. For millions in the world’s No. 2 economy, the visit will put Florida on their mental map of places to buy real estate.

If there is one thing the Chinese investor loves, it’s housing. And so Xi’s visit to Florida is about to give the Sunshine State its biggest curtain call yet. Not to mention Trump’s golf club, which will now be on radar of status seeking Chinese living in south Florida.

“There are many individual and corporate investors buying in Florida, but Chinese developers are also exploring the state looking for good opportunities to build,” says Charles Pittar, CEO of Juwai.com, a Chinese real estate services firm. “Florida is an attractive market.”

Prices in Florida are a fraction of what they are for comparable properties in other Chinese investment hot spots like Hong Kong, London, Sydney and New York. Average home prices in Shanghai are now around $750,000, or five million yuan. Investors can find that easily in Miami. And those with deeper pockets believe long-term value, and lifestyle quality is worth the extra money in Florida. There is a growing number of Chinese students at the University of Florida, and their parents are often putting them up in their own apartments instead of in the dorms, or buying real estate nearby for family visits. Roughly thirty-two percent of international students at the university are from China.

The most popular Florida destinations in 2016 for Chinese investors were Orlando, Fort Lauderdale, and Miami.

Chinese-American Caroline Griffith’s mother is a Miami fan. She spent over a million dollars on an apartment project called the Paramount, going up now at Worldcenter downtown. Her mom, a Shanghai businesswoman, and is not a U.S. citizen.

“She is just buying it as an investment,” Griffith says. “She’ll rent it and maybe use it sometimes for vacation but she is not moving here. It’s not her first property either,” she says. “She has six homes in Miami.”

Miami Worldcenter is a modern, glass and steel superstructure currently under construction. They’re onto the fourth or fifth floor now and have 60 floors to complete. It’s supposed to be done by 2019. According to the exclusive broker, OneWorld Properties, most people are settling in cash. And guess how many are foreigners? Peggy Fucci, One World’s CEO says 70% are international, coming to from 38 different countries.

Chinese-American Caroline Griffith’s mother is a Miami fan. She spent over a million dollars on an apartment project called the Paramount, going up now at Worldcenter downtown. Her mom, a Shanghai businesswoman, and is not a U.S. citizen.

“She is just buying it as an investment,” Griffith says. “She’ll rent it and maybe use it sometimes for vacation but she is not moving here. It’s not her first property either,” she says. “She has six homes in Miami.”

Miami Worldcenter is a modern, glass and steel superstructure currently under construction. They’re onto the fourth or fifth floor now and have 60 floors to complete. It’s supposed to be done by 2019. According to the exclusive broker, OneWorld Properties, most people are settling in cash. And guess how many are foreigners? Peggy Fucci, One World’s CEO says 70% are international, coming to from 38 different countries.

Sticky
Share

The nation’s healthiest, and unhealthiest housing markets

At Apr 03, 2017

Housing remains in high demand in most of the nation, but the housing recovery looks increasingly uneven, depending on location. Whether buyers are shopping for their own homes or for investment properties that will throw off some cash, certain markets are becoming far more lucrative than anyone might have expected just a few years ago. […]

Sticky
Share
Russian real estate investor

Russia again tops list of countries searching for South Florida real estate

At Mar 19, 2017

Russia again tops list of countries searching for South Florida real estate Behind Russia were Colombia, Venezuela, Brazil and Argentina February 27, 2017 10:35AM Written by Katherine Kallergis of The Real Deal Russian interest in South Florida is back, and it may be here to stay. Russia held the top spot on the Miami Association of Realtors’ list […]

Sticky
Share

Raymond James fights back in $350 million Vermont fraud case

At Aug 02, 2016

Raymond James — which previously agreed to pay a $5.95 million settlement to Vermont regulators in connection with the case — last week sued 21 people who had filed arbitration suits against the company with the Financial Industry Regulatory Authority (FINRA). The investors had accused Raymond James of negligent supervision, common law fraud, fraudulent transfers, […]

Sticky
Share

Pinellas County’s 17 possible sites for Rays ballpark

At Jul 31, 2016

As efforts ramp up to keep the Tampa Bay Rays in Pinellas County — and ward off a heavy challenge from Hillsborough County — officials recently identified 10 possible locations for a new stadium. A few were new industrial sites; others have been discussed before. To add to the 10, county commissioners recently asked staffers […]

Sticky
Share
  • Better Business Bureau

    Bay to Gulf Holdings, LLC is a BBB Accredited Real Estate Investor in Tampa, FL

  • New Property Updates

    Tampa area investment properties are added to our list as soon as they're acquired. Get first notice.