Who's Investing in Miami's Luxury Real Estate Market?

Written by Posted On Thursday, 01 February 2018 08:36
Josh Cunningham Josh Cunningham Investorist

The bridge to global investors seems to lie with Investorist, a B2B platform providing developers with a way to market their pre-construction properties internationally, while also providing agents with a portal to match their clients with the investment property of their dreams. The Australian-based company launched operations in the US with the opening of their Miami office in 2016, and have since acquired many of the Magic City's leading developers and agents looking to market their new development listings to investors abroad. Rapidly, the platform is becoming a new standard in property development sales, providing users with powerful tools, transparent networking services and a global marketplace of investment options, with invaluable back-end metrics in real-time.

 

We sat down with Josh Cunningham, VP of Sales for Investorist, who shared his insights on Miami's luxury market and who's buying there, based on the metrics he's seeing in 2018 thus far.

1)  What types of demographics are searching for luxury property in South Florida on Investorist?

For the South Florida market we are seeing LatAm - particularly Colombia, Mexico, Brazil, Argentina- in addition to Europe and the Middle East. We have recently seen some Asian buyers but they are in short supply when it comes to the luxury market.  From our conversations with agents, the luxury market is more of a lifestyle choice. The ones seeking luxury property are more interested in purchasing a holiday home, intrigued by the warmer weather or simply wanting to indulge in all of what South Florida has to offer from a cosmopolitan standpoint.

 

2)  You're putting together a Colombia Connection event in April similar to your past China Connection events - what type of demand for Miami real estate is there with Colombian buyers?

We started our LatAm expedition and operations in Colombia because we knew that there was demand. Colombian buyers have consistently been the number 1 demographic interested in Miami real estate for the last several years. But what we found when going into this market was brokers were often being neglected. They had buyers interested in the Miami property but limited supply or connection to Miami property, so it became easier to sell Colombian new development. We have now changed that, giving Colombian brokers access to more inventory and a direct connection to the sales person - making it quicker and easier to get transactions done, for both sides. Adding the events is only going to grow our reach and results in this location. This week alone we have seen 2 units be put on hold and brokers registering over 5 buyers on projects in the South Florida area. We presume the demand from Colombia will only increase as we approach their Presidential Election, which always creates an influx of money out of the country purely from the uncertainty of the election.

 

3) I know Investorist is a B2B platform, but can you share some recent sales that can directly be traced back to Investorist?

In December, our connections would have achieved between $7-$10M in new development sales where the prices were from 200K - $1M. This week we have had 2 units (over $1M each) on hold and 4 registered buyers, it is a little early to see whether those deals go through but the signs are promising.

 

4) How much of your current inventory is Miami real estate?

A large portion of our US inventory (60%) is from Miami because this was the first US city we launched and where our headquarters are.

For more information on Investorist, please visit Investorist.com

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