News

Fla. real estate investment part of int’l event

2016-03-31

ORLANDO, Fla. – March 30, 2016 – For the first time, Florida Realtors®, the largest professional trade association in Florida, joined influential leaders in the international property sector as part of this year's MIPIM, the world's leading real estate market, conference and networking event held March 15-18, 2016, in Cannes, France.

In addition to Florida Realtors, the Miami Association of Realtors, Northeast Florida Association of Realtors, Missouri Realtors, Nevada Association of Realtors, Illinois Association of Realtors and other Realtor organizations from these states as well as California were represented in the National Association of Realtors' (NAR) USA Pavilion.

"Florida Realtors took advantage of this unique opportunity to show a global audience of industry leaders and investors why Florida remains a prominent market for foreign home buyers and real estate investors throughout the world," says 2016 Florida Realtors President-Elect Maria Wells, who attended the MIPIM show.

Participants at the MIPIM show weren't looking to buy one single-family home, but institutional investors looking to invest millions of dollars in multifamily, office, industrial and retail units. Investors focused on good deals that offered a profitable return on investment rather than any specific Florida location, according to those in attendance.

Florida Realtors representatives directed potential investors to the Florida Living Network to find the right Florida Realtor for whatever investment they were considering. Investors were also educated on various investment opportunities available throughout Florida.

About 25 percent of foreign homebuyers in the United States purchased properties in Florida, according to the 2015 Profile of International Home Buyers in Florida, published by the National Association of Realtors and Florida Realtors. The majority of Realtors in Florida (69 percent) have international clients compared to the national average of 35 percent.

Florida Realtors' industry analysts predict that rising demand will make Florida one of the hottest spots in the country, with home sales expected to increase 8 to 10 percent in 2016.

"Florida's real estate market continues to offer exceptional benefits and value for international investors, particularly those from the Americas and from Europe," says Wells. "We were keen to show investors and participants at MIPIM all these benefits and invited them to visit the Sunshine State."

According to MIPIM officials, the show had 21,400 participants, 351 stands, 89 countries, 2,445 exhibiting companies and 4,800 investors in 17,700 square meters of exhibition space.

© 2016 Florida Realtors®

Reprinted with permission. Florida Realtors®. All rights reserved.

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