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South Florida developers target Chinese investors

Tuesday 3rd January 2017

Written by Roy Weatherby, The Overseas Investor

Chinese buyers are very active when it comes to purchasing US residential real estate and developers and marketers want to capitalise on their willingness to spend a lot of money.
This year, Chinese buyers have already spent $27.3 billion on property in the US.
However, a mix of government initiatives, outreach by developers along with design and amenities that Chinese buyers desire, things are changing in South Florida.
Developers are now starting to work with top architects in order to design world-class buildings that have a modern look and feel and this has caught the attention of Chinese buyers.
Chinese buyers are all about the amenities and for those who are very wealthy, they want exclusivity. However, for many Chinese buyers, they want good rentability and those units that are fully furnished are extremely desirable, especially if they are located in high-quality buildings that have modern interiors and luxurious amenities.
Another preference that Chinese buyers have is for property to face the southeast while those that have the numbers 8 or 9 in the address are also popular.
Chinese buyers now want more. They want more amenities, smarter buildings and community-driven programming and they want it at a price that will only appreciate over time.
Residential property investment
One development that certainly appeals to Chinese buyers is the community-driven 65 acre, 4 million square-feet Metropica, located in Sunrise, Broward County.
The idea behind the development is to offer a better quality of life based around human modernism and new urbanisation. This development comes with private balconies, first-class shopping and dining as well as a salt-water pool, tennis club, beach club and a park.
The development has certainly caught the attention of Chinese buyers although this has been done via a visa program that makes it possible for international investors to live and work in the US if they invest more than $500,000 into a project and create more than 10 jobs in a two-year period.
The majority of these visas are given to Chinese investors while the government is also supporting the development of communication and transportation. There are plans to develop a Chinatown in Miami so that it can act as a base for Asian students at Florida International University while the Miam-Dade Aviation Department is in discussion with Cathay Pacific Airways for a non-stop service between Miami and Hong Kong.
Endorsing properties in Asia
This is a good link between the US and China and now, developers are beginning to promote property in Asia as many have now set up Asian based operations to promote and sell property in Florida to wealthy Chinese investors.
The way in which Chinese investors are embracing property in Florida is extremely encouraging for the real estate sector and the economy as a whole. Investment from the Chinese has only just begun with only 2% of property transactions in Florida involving Chinese buyers. As the Chinese population in Florida increases as well as interesting, there is no doubt that investment will increase considerably.
For more information on investing in Florida Real Estate, please contact Hopwood House.

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