MIAMI – December 11, 2015 – (RealEstateRama) — The MIAMI Association of REALTORS® (MIAMI) will be promoting South Florida real estate at LPS Shanghai 2015, one of the world’s top luxury real estate expos. More than 5,000 affluent real estate buyers and investors from China and around the globe will be attending the Dec. 11-13 event at the Shanghai Marriott City Centre.
China is one of the fastest growing segments of South Florida foreign buyers, and the Asian country’s interest should only increase due to Miami’s world-famous lifestyle, top-tier colleges and universities, expansive designer shopping, diversified economy, sunny weather, clean air, walkable districts, and secure investments.
“Access to quality education and clean air are top priorities for Chinese buyers, and Miami real estate offers some of the cleanest air and best schools in the United States,” said Teresa King Kinney, the chief executive officer of MIAMI. “South Florida has long been the top destination in the U.S. for international home buyers, and we feel very strongly that China, the world’s most populated country, will only increase Miami real estate sales to foreign buyers.”
MIAMI has facilitated several events to help its 41,000-plus members better advertise their properties in China. In 2013, MIAMI made a market-presentation in San Francisco to a group of 100 top Chinese brokers with SouFun, which operates one of the leading real estate Internet portals in China. MIAMI also hosted a dinner last fall in Miami for the Chairman of the Chinese Real Estate Association and their delegates. MIAMI members also have special pricing for their properties on SouFun, now Fang.com.
Chinese Consumers Buying More South Florida Properties
China is one of the fastest growing segments of South Florida international buyers, according to a 2014 survey conducted by the National Association of Realtors (NAR) for MIAMI. Chinese buyers represented 2 percent of all international closed sales in Miami-Dade and Broward Counties in 2014. That’s a 50 percent increase from 2012 and 2011 when China comprised 1 percent of transactions.
According to the 2015 Profile of International Home Buyers in Florida conducted by NAR, Miami-Miami Beach was the top Florida destination for Chinese buyers. About 42 percent of Chinese consumers purchasing property in Florida bought in Miami-Miami Beach. Bradenton-Sarasota-Venice was the second-most popular Sunshine State destination at 27 percent.
In 2015, Chinese consumers had an average Florida purchase price of $1.065 million, the highest among all international home buyers, according to the 2015 Profile of International Home Buyers in Florida. All foreign buyers had an average purchase price of $538,600 in Florida, higher than the $258,200 mean home price for domestic clients.
Nationally, Chinese buyers have surpassed Canadians as the most dominant foreign home purchasers, according to the National Association of REALTORS® 2015 Profile of Home Buying Activity of International Clients. Chinese buyers comprised 16 percent of international buyers who purchased single-family homes and condos in the 12-month period ending in March, up from 12 percent in 2013.
LPS Shanghai 2015: Leading Luxury Real Estate Expo
Hundreds of countries, regions and cities will be showcasing international high-end properties at the 11th annual LPS Shanghai 2015, an invitation-only event. Canada, Australia, the United Kingdom, France, Spain, Italy, Switzerland, Cyprus, Thailand, Singapore, Malaysia and other countries will be in attendance.
In addition to the three-day property exhibition, LPS Shanghai 2015 will feature exclusive on-site events to maximize interactions between exhibitors and visitors. To learn more about LPS Shanghai 2015, visit: http://lps-china.com/en