Miami is one of the most luxurious cities in the world. From supercars to 5* hotels, Miami is a prime destination for luxury consumers all over the globe. According to CityFirst Realty, the South of Florida remains to be one of the most desirable destinations for middle eastern investors. In fact, 11% of their investments come from the MENA region, according to CEO and premium-realtor – Roxanne Kosberg.
Acquired by a group in Qatar, the St Regus Hotel in Bal Harbour, Florida was a notable purchase for US$213 million in 2014. Likewise, the Abu Dhabi Investment Authority’s acquisition of the Miami Beach Edition Hotel in 2015, is an example which proves the interests of Middle Eastern Investors in this US state.
Why Invest in South Florida?
“Investors from the Middle East remain active buyers in the global real estate market and continue to target core assets in safe-haven locations. The recent decline in oil price only strengthened the case for investors to diversify their income streams, both in terms of asset and geographical diversification, and long-term panorama.” – Roxanne Kosberg.
Comparable to other destinations in the world, Miami’s most popular trait is its vibrant lifestyle. For Middle Eastern investors, Miami is the perfect location to find the luxury lifestyle on the other side of the Atlantic. Just like many Middle Eastern cities, it is a hub for business, nightlife, culture and art. Not only this but it’s easy connections to the Middle east make it a prime location. As travel begins to open up in the region, connections to the South of Florida have already resumed. Undoubtedly, connectivity will continue to increase in the coming months.
Sovereign wealth funds, particularly those of Qatar and the United Arab Emirates, have driven the growth in real estate investments. According to reports, favourable exchange rates and the desire to diversify assets have led these funds to seek residential and commercial real estate opportunities in the United States.
To Continue, Florida’s steady GDP attracts a lot of Middle Eastern consumers to the state. The state is one of the top travel destinations in the world, relying on tourism to drive its economy more than any other state. Similar to many locations in the middle east, the Sunshine State also relies heavily on real estate and international trade.
Investing with CityFirst Realty
“The Middle East is part of an increasingly larger array of countries purchasing Miami real estate. We at Cityfirst Realty help our international buyers choose the best properties and negotiate the best prices and terms due to our long standing expertise in the real estate market, as well as facilitate the closing process through our network of high specialized lawyers and accountants. Everything is done in the most personalized fashion to attend the needs of our clients. We are always here for them.” – Roxanne Kosberg
As exclusive boutique, their 15+ real estate agents are licensed in Florida and internationally. They aim to “have only the best of the best” for their clients. With experience and knowledge of the region, they concentrate on international buyers. In putting their clients first, they establish ongoing relationships within this niche market of premium real estate.
If you want to know more and get in contact with CityFirst Realty, you can find out more on their website: https://www.cityfirstrealty.com
