Miami/South Florida. Top U. S. Market for International Buyers

Transcription

1 FIABCI USA MIAMI

2 Miami/South Florida Top U. S. Market for International Buyers January 2017 Realtor.com

3 Where are Global Buyers Searching in the United States?

4 New York Top 5 Markets January 2017 Canada UK Australia Germany Ireland

5 South Florida ranked as a top-five market in 9 of the top-10 largest regions in the world January 2017 Realtor.com North America: 1. New York-Newark-Jersey City, NY-NJ-PA; 2. Chicago-Naperville-Elgin, IL-IN-WI; 3. Miami-Fort Lauderdale-West Palm Beach, FL; 4. Philadelphia-Camden-Wilmington, PA-NJ-DE-MD; 5. Dallas-Fort Worth-Arlington, TX South America: 1. Miami-Fort Lauderdale-West Palm Beach, FL; 2. Orlando-Kissimmee-Sanford, FL; 3. Los Angeles-Long Beach- Anaheim, CA; 4. New York-Newark-Jersey City, NY-NJ-PA; 5. Atlanta-Sandy Springs-Roswell, GA Northern Europe: 1. Los Angeles-Long Beach-Anaheim, CA; 2. New York-Newark-Jersey City, NY-NJ-PA; 3. Miami-Fort Lauderdale-West Palm Beach, FL; 4. Orlando-Kissimmee-Sanford, FL; 5. Tampa-St. Petersburg-Clearwater, FL Australia and New Zealand: 1. Los Angeles-Long Beach-Anaheim, CA; 2. New York-Newark-Jersey City, NY-NJ-PA; 3. Miami-Fort Lauderdale-West Palm Beach, FL; 4. Las Vegas-Henderson-Paradise, NV; 5. San Francisco-Oakland-Hayward, CA Western Europe: 1. Los Angeles-Long Beach-Anaheim, CA; 2. Miami-Fort Lauderdale-West Palm Beach, FL; 3. New York-Newark-Jersey City, NY-NJ-PA; 4. Washington-Arlington-Alexandria, DC-VA-MD-WV; 5. San Antonio-New Braunfels, TX Caribbean: 1. Miami-Fort Lauderdale-West Palm Beach, FL; 2. Orlando-Kissimmee-Sanford, FL; 3. New York-Newark-Jersey City, NY-NJ- PA; 4. Tampa-St. Petersburg-Clearwater, FL; 5. Atlanta-Sandy Springs-Roswell, GA Southern Europe: 1. Miami-Fort Lauderdale-West Palm Beach, FL; 2. New York-Newark-Jersey City, NY-NJ-PA; 3. Los Angeles-Long Beach-Anaheim, CA; 4. Tampa-St. Petersburg-Clearwater, FL; 5. Chicago-Naperville-Elgin, IL-IN-WI Eastern Asia: 1. Los Angeles-Long Beach-Anaheim, CA; 2. New York-Newark-Jersey City, NY-NJ-PA; 3. Chicago-Naperville-Elgin, IL-IN-WI; 4. Washington-Arlington-Alexandria, DC-VA-MD-WV; 5. Atlanta-Sandy Springs-Roswell, GA Western Asia: 1. Miami-Fort Lauderdale-West Palm Beach, FL; 2. New York-Newark-Jersey City, NY-NJ-PA; 3. Los Angeles-Long Beach- Anaheim, CA; 4. Washington-Arlington-Alexandria, DC-VA-MD-WV; 5. Chicago-Naperville-Elgin, IL-IN-WI Eastern Europe: 1. Los Angeles-Long Beach-Anaheim, CA; 2. Miami-Fort Lauderdale-West Palm Beach, FL; 3. New York-Newark-Jersey City, NY-NJ-PA; 4. Chicago-Naperville-Elgin, IL-IN-WI; 5. Tampa-St. Petersburg-Clearwater, FL

6 Source 2016 Profile of International Activity in U. S. Residential Real Estate, National Association of Realtors, June 2016

7 2016 NAR Report For Florida Released January 2017 Source 2016 Profile of International Residential Real Estate Activity in Florida Conducted by the National Association of Realtors December 2016

8 Florida is the #1 State in the U.S. for International Buyers Source 2016 Profile of International Activity in U. S. Residential Real Estate, National Association of Realtors, June 2016

9

10

11

12 Source 2016 Profile of International Residential Real Estate Activity in Florida, conducted by NAR In Florida Foreign buyers purchased $19.4 billion, 18 percent decrease in dollars 47,000 residential properties, 7% increase 12% of Florida s Sales are international 4% of U.S. residential sales are international

13 Source 2016 Profile of International Residential Real Estate Activity in Florida, conducted by NAR

14 Source 2016 Profile of International Residential Real Estate Activity in Florida, conducted by NAR

15 Source 2016 Profile of International Residential Real Estate Activity in Florida, conducted by NAR

16 Miami/South Florida is #1 in Florida with 52% of all sales! Miami-Fort Lauderdale- West Palm Beach MSA = 52% - Much higher than its 31% share of Florida s total existing home sales Orlando MSA = 12% Source 2016 Profile of International Residential Real Estate Activity in Florida, conducted by NAR Tampa MSA = 8%

17 Source 2016 Profile of International Residential Real Estate Activity in Florida, conducted by NAR Miami/South Florida is the # 1 Market for the Top Countries Buying in Florida Except UK, we re #2 #1 #1 #1 #1 #2

18

19 2016 Profile of International Homebuyers of Miami Association of REALTORS Members Conducted for the Miami Association of REALTORS by the National Association of REALTORS January 2017

20 National Association of REALTORS Research Division Dr. Lawrence Yun, Senior Vice President and Chief Economist Danielle Hale, Managing Director, Housing Research Gay Cororaton, Research Economist Miami Association of REALTORS Teresa King Kinney, CEO Lynda Fernandez, Senior Vice President of Public Relations and International This Report may be cited with the proper attribution Miami Association of REALTORS and National Association of REALTORS January 2017

21 FOREIGN BUYER PURCHASES OF RESIDENTIAL PROPERTY IN MIAMI-DADE BROWARD PALM BEACH AND MARTIN COUNTIES

22

23 Foreign Buyers Purchased 10,885 Residential Properties Compared to 10,678 in the Previous Year Number of Foreign Buyer Purchases to Total Closed Sales International, 10,885, 24% Non-international, 34,387, 76% *The estimate of international sales includes foreign buyer purchases of members who reported Miami-Dade, Broward, Palm Beach, and Martin County as their primary business areas and who reported that the property purchased was located in these counties.

24

25 Miami-Dade Accounted for 80% of Dollar Volume of Residential Purchases in the 4 Counties Dollar Volume of Foreign Buyer Residential Purchases by County (in Billion Dollars) $4.82 $4.98 $1.10 $1.02 $0.16 $0.19 $0.03 $0.02 Miami-Dade County Broward County Palm Beach County Martin County

26 Miami-Dade, Palm Beach, and Martin County Had Somewhat Higher Share of Foreign Sales Relative to their Shares to Total Dollar Volume of Closed Sales Distribution of Dollar Volume of Foreign Buyer Purchases vs. Dollar Volume of Closed Sales 72.9% 80.2% 25.2% 16.4% 1.7% 3.0% 0.2% 0.4% Miami-Dade County Broward County Palm Beach County Martin County County Share of Closed Sales in Dollar Volume County Share of Foreign Buyer Dollar Volume

27 ORIGIN AND DESTINATION OF FOREIGN BUYERS

28 OurTop Countries Rank Countries

29 #1 Venezuela #2 Argentina Brazil #3 Colombia #4 Canada #5 Mexico France Peru #6 Italy Ecuador China Dom Republic

30 Next Tier Countries of Origin Spain Russia Chile Germany India Panama Australia Costa Rica Nicaragua Honduras Japan Portugal South Korea Malaysia Other (Unknown)

31 By Dollar Volume, Top 5 Buyers Accounted for Nearly Half of the $6.2 Billion Total, Led By Venezuela and Brazil Venezuela $2,973 $3,194 Brazil Argentina Canada $729 $868 $965 $861 $516 $468 $530 $410 $396 $405 Colombia *Other* Venezuela Brazil Argentina Canada Colombia Others * Includes only foreign buyer purchases in Miami-Dade County, Broward County, Palm Beach County, and Martin County.

32 Brazilian and Canadian Buyers Purchased More Expensive Properties On Average $766 $775 $646 $516 $516 $534 $489 $510 $578 $600 $572 $570 $406 $388 Brazil Canada Venezuela Argentina Colombia Others All * Includes only foreign buyer purchases in Miami-Dade, Broward, Palm Beach, and Martin County.

33 Miami-Dade County: Preferred by Latin American Buyers Distribution of Number of Residential Property Foreign Buyers in Miami-Dade County Venezuela 17% 1. Venezuela 2. Brazil 3. Argentina 4. Colombia 5. Italy 6. Mexico 7. Canada 8. France 9. China 10.DR 11.Peru Brazil Argentina Colombia Italy Mexico Canada France China Dominican Republic Peru Other 4% 4% 4% 3% 3% 3% 3% 8% 14% 15% 20% Unknown 3%

34 Broward County: Attracts Latin American, Canadian, and Other Buyers Distribution of Number of Residential Property Foreign Buyers in Broward County Venezuela 18% 1. Venezuela Colombia 17% 2. Colombia 3. Canada 4. Argentina Canada Argentina 12% 13% 5. Brazil Brazil 10% And Other 28% Other 28% Unknown 2%

35 Palm Beach County: Attractive to Canadians and Europeans Distribution of Number of Residential Property Foreign Buyers in Palm Beach County 1. Canada 2. Venezuela 3. Brazil 4. Germany 5. Italy 6. Argentina 7. Colombia 8. Ireland 9. Russia Canada Venezuela Brazil Germany Italy Argentina Colombia Ireland Russian Federation 4% 4% 4% 4% 7% 7% 7% 9% 30% And Other 17% Other Unknown 7% 17%

36 Martin County: Attracts a Mix of Foreign Buyers Distribution of Number of Residential Property Foreign Buyers in Martin County Canada 21% 1. Canada 2. Australia 3. Brazil 4. Germany 5. Venezuela Australia Brazil Germany Venezuela 8% 8% 13% 13% and Other 29% Other 29% Unknown 8%

37 Destination of Argentinian Buyers Destination of Argentinian Residential Buyers Miami-Dade County 69.4% Argentina Broward County 26.3% Palm Beach County 2.1% Other 2.2%

38 Destination of Brazilian Buyers 74.7% Miami-Dade County Brazil Broward County 20.0% Palm Beach County 1.5% Martin County 0.1% Other county 3.6%

39 Destination of Canadian Buyers Destination of Canadian Residential Buyers Canada Broward County 44.5% Miami-Dade County 31.4% Palm Beach County 12.4% Martin County 1.0%

40 Destination of Colombian Buyers Destination of Colombian Residential Buyers 47.0% Colombia Miami-Dade County Broward County 41.8% Palm Beach County 1.3% Other county 9.9%

41 Destination of Venezuelan Buyers Destination of Venezuelan Residential Buyers Venezuela Miami-Dade County 66% Broward County 28% Palm Beach County 2% Other county 5%

42 CHARACTERISTICS OF FOREIGN BUYERS

43 MIAMI Members Foreign Buyers Purchased More Expensive Properties on Average Purchase Compared Price Among Residential to Other Foreign Foreign Buyers Buyers $570,000 $412,100 $477,500 Foreign Buyers of MIAMI Members* Foreign Buyers of Florida REALTORS Members All Foreign Buyers in the United States

44 On Average, Miami Market* Foreign Buyers Purchased More Expensive Properties Compared to Other Buyers Average Prices* $572,100 $570,000 $344,900 $352,900 Foreign Buyers of MIAMI Members* All Closed Sales of MIAMI Members *Includes only foreign buyer purchases in Miami-Dade County, Broward County, Palm Beach County, and Martin County.

45 *Miami refers to Miami-Dade County, Broward County, Palm Beach County and Martin County. 72 Percent of Miami* Foreign Buyers Paid Cash Type of Foreign Buyer Financing 21% 24% 74% 72% All cash With mortgage financing - Home country Don't know With mortagage financing - US sources Other

46 Type of Financing Among Miami* Major Foreign Buyers 7% 15% 4% 29% 3% 2% 2% 16% 27% 26% Don't Know Other 78% 65% 81% 71% 71% Mortgage Loan from Home Country Mortgage Loan from U.S. Sources Argentina Brazil Canada Colombia Venezuela All-cash *Miami refers to Miami-Dade County, Broward County, Palm Beach County and Martin County.

47 55% of Miami* Foreign Buyers Purchased Condominiums Type of Residential Property Foreign Buyers Purchased 55% 27% 14% 3% Condominium Single-family, detached Townhouse/rowhouse Land/Other *Miami refers to Miami-Dade County, Broward County, Palm Beach County and Martin County.

48 Major Miami* Foreign Buyers Preferred Condominiums/ Cooperatives Type of Residential Property Foreign Buyers Purchased 2% 11% 7% 15% 24% 8% 25% 20% 24% 4% 18% 26% Other Residential Land 70% 61% 71% 59% 48% Detached single-family Argentina Brazil Canada Colombia Venezuela Townhouse/row house/duplex Condominium or Cooperative *Miami refers to Miami-Dade County, Broward County, Palm Beach County and Martin County.

49 75% of Miami* Foreign Buyers Intended to Use the Property as Residential Rental, Intended Vacation Use of Property Home, or Both 32% 27% 16% 16% 1% 4% 3% *Miami refers to Miami-Dade County, Broward County, Palm Beach County and Martin County.

50 86% of MIAMI Members Foreign Buyers Purchased in an Urban or Suburban Area, Significantly Up from 6 Years Ago 21% 17% 16% 13% 14% 10% 11% 21% 19% 20% 20% 22% 27% 28% 57% 63% 64% 66% 63% 61% 58% Central City/Urban Area Suburban Area Resort Area Small Town/Rural Area

51 94% of Foreign Buyers Visited Florida At Least Once Before Purchasing a Property 25.5% 19.7% 22.1% 9.4% 5.5% 6.2% 5.2% 1.9% 0.7% 1.3% 0.4% 1.7% 0.2% 0.2% to to 20 more than 20

52 Security of Investment and Desirability of Location for Residence: Primary Reasons for Purchasing Miami* Property Most Important Factor Influencing a Purchase Security of Investment and 6% 5% 5% 3% 3% 2% 1% 3% 29% 20% 34% 31% 31% 25% 30% Desirability of Location 20% 35% 34% 38% 36% 33% 26% 45% 40% 27% 28% 31% 40% 40% *Miami refers to Miami-Dade County, Broward County, Palm Beach County and Martin County.

53 EXPERIENCE OF MIAMI ASSOCIATION OF REALTORS MEMBERS WORKING WITH INTERNATIONAL CUSTOMERS

54 70% of MIAMI Members Had an International Customer Compared to National Average of 31% REALTORS Who Worked With an International Customer in the Past 12 Months* (Percentage Distribution) 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% 75% 83% 77% 77% 74% 70% 70% 28% 28% 27% 27% 28% 35% 31% *The surveys covered South Florida; the surveys covered Miami-Dade and Broward; starting in the 2015 survey, the areas covered Miami-Dade County, Broward County, Palm Beach County, and Martin County.

55 53 Percent Had More than Five International Customers, Up from One Year Ago, Suggesting More Specialization Number of Foreign Clients Among Respondents Who Had Any Client 56% 47% 36% 30% 9% 11% 3% 6% 1% 3% 2% 3% 0 1 to 5 6 to to to 20 More than 20

56 62 Percent Reported the Exchange Rate Changes Had a Significant Effect, Higher than in Previous Years Effect of Exchange Rate Changes on International Clients 39% 47% 36% 37% 39% 53% 62% 49% 40% 43% 43% 43% 37% 28% 12% 13% 21% 20% 18% 10% 5% Not much of an effect Moderate effect 2014 Very significant effect 2015 Don t Know 2016

57 Dollar Has Strengthened Against Most Currencies Since 2014 Exchange Rates Indices as of November 2016 (Exchange Rate January 2010=100) Exchange Rate Indices, Except Venezuelan Bolivar/U.S. Dollar Jan/2010 Apr/2010 Jul/2010 Oct/2010 Jan/2011 Apr/2011 Jul/2011 Oct/2011 Jan/2012 Apr/2012 Jul/2012 Oct/2012 Jan/2013 Apr/2013 Jul/2013 Oct/2013 Jan/2014 Apr/2014 Jul/2014 Oct/2014 Jan/2015 Apr/2015 Jul/2015 Oct/2015 Jan/2016 Apr/ Index of the Venezuelan Bolivar/U.S. Dollar Canadian $/US$ Mexican Peso/US$ Brazilian Real/US$ Venezuelan Bolivar/US$

58 The U.S. Dollar Has Strengthened Against Most Currencies 140 Since 2014 (Slide 2 of 2) Exchange Rates Indices as of November 2016 (Exchange Rate January 2010=100) Jan/2010 Mar/2010 May/2010 Jul/2010 Sep/2010 Nov/2010 Jan/2011 Mar/2011 May/2011 Jul/2011 Sep/2011 Nov/2011 Jan/2012 Mar/2012 May/2012 Jul/2012 Sep/2012 Nov/2012 Jan/2013 Mar/2013 May/2013 Jul/2013 Sep/2013 Nov/2013 Jan/2014 Mar/2014 May/2014 Jul/2014 Sep/2014 Nov/2014 Jan/2015 Mar/2015 May/2015 Jul/2015 Sep/2015 Nov/2015 Jan/2016 Mar/2016 May/2016 Jul/2016 Sep/2016 Australian $/US$ Euro/US$ British Pound/US$ Chinese Yuan/US$

59 Reasons International Client Did Not Purchase Property in Past 12 Months Ended July 2016 Cost of Property, Exchange Rate, and Financing-related Issues Were Major Reasons Client Did Not Purchase Cost of property 17% Exchange rate 14% Can not move money 13% Condo/maintenance fees 11% Could not find a property to purchase 11% Could not obtain financing 9% Property taxes 8% Exposure to U.S. tax laws 6% Immigration laws 5% Insurance costs 3% Loss of home country benefits 1% Don't know 3%

60 76% of Members Reported No Language or Cultural Problems, Higher than in Past Years 76% Overcoming Cultural or Language Barriers 65% 63% 22% 24% 20% 7% 8% 6% 5% 2% 2% No problem Few problems Significant problems Other

61 Many Are Fluent in Another Language and Were Born Outside the U.S. Are you Fluent in a Language Other Than English? Were you Born in the U.S.? 26% 27% 24% MIAMI Members 76% Fluent in Another Language 63% 56% 62% 75% 73% 76% 62% Born in Another Country 37% 44% 38% Yes No Yes No

62 79% of Referrals/Leads Came from Personal Contacts, Previous Clients, and Business Contacts Source of Referrals or Leads 34% 26% 13% 7% 5% 4% 3% 2% 2% 4%

63 38 Percent of Online Leads Came from Own, Franchise s or Firm s Website or Social Media Source of Online Leads Own/Firm/Franchise's Website/Social Media 38% Other Aggregators' Websites 29% Realtor.com 13% Local MLS 3% Other Online Search 3% Commercial Listing 1% Other Sources 5% Don t Know 8%

64 40% Reported they Expect International Transactions to Increase in the Next 12 Months Outlook in Next 12 Months Don't Know 10% Decrease 28% Increase 40% Remain the Same 22%

65 Yes No Don't Know 48% Reported that Foreign Retirees Are a Potential Source of Buyers Foreign Retirees as a Potential Pool of Buyers 32% 33% 19% 34% 26% 32% 42% 35% 48%

66 Miami Realtors Has more than 160 Global Partnerships Worldwide

67 News by Country Top Countries Covering Miami Real Estate News: 1. Canada & U.K. 2. New Zealand 3. Italy 4. India 5. Germany 6. Australia, France 7. Argentina, Austria, Philippines 8. Colombia, Venezuela

68 Looking for International Buyers Key Indicators

69 Look at your Non-stop International Flights Watch for New Announcements

70 Who is writing about you? WHICH COUNTRIES ARE COVERING YOUR REAL ESTATE MARKET?

71 MIAMI Media Coverage Less than 30 Days 2017 $353, : $5 million+ Coverage 209 Articles Written Over 200,000

72 News by Country 1. UK 2. Poland 3. Canada 4. Argentina 5. Colombia 6. Nigeria 7. Venezuela

73 MIAMI News by State 1. Texas 2. Florida 3. California 4. New York 5. Illinois 6. Alabama, Louisiana, Maryland, Mississippi, Ohio

74 SFMarketIntel.com For all data and Statistics on the Miami/South Florida Real Estate Market

75 Miami Association of Realtors Over 46,000 Members Largest local Realtor Association in the U.S.

76 Miami Market Update

77 February 2017 Sales Prices Single Family Median $321, % Single-Family Sale Prices 63 Months of increases Condominium Sale Prices 67 Months of increases Condos $220,000 Prices still equal to 11 years ago % % Increase over 1 year ago

78 February 2017 Sales Prices The Sweet Spot Mid-market Single Family $250,000 - $600,000 10% Increase

79 February 2017 Sales Prices Sales for Single Family $600,000 - $1 Million 56% Increase in Sales

80 Sales Prices Peak 2007 $380,000 for SF $272,000 for Condos Bottom February 2017 $321,000 SF $220,000 Condos = 2006 Prices

81 Active Listing Inventory 43,000 in August 2008 February ,489 Single Family 15,289 Condos SF = 5.9 Months of Inventory Condos = 13.7 months

82 MIAMI Real Estate Market is Strong % of List Price Time to Contract (LP) Single Family 94.9% LP 61 Days Condos 93.1% LP 83 Days

83 Cash Sales National 27% Cash Sales Miami 47.4% Cash Sales 29.7% Single Family 57.2% Condos New Construction 90%

84 Traditional Sales Increasing Over Distressed Sales Miami-Dade July 2016 U.S. July % Traditional 13.3% Distressed 9% Traditional 7% Distressed 2.8% Short Sales 10.5% Foreclosures

85 Miami By the Numbers And Market Facts

86 MIAMI: By the Numbers How Miami Ranks in the Entire U. S.

87 Miami #1 America s Cleanest City As Ranked by Forbes for its yearround good air quality, green spaces, and clean drinking water. Also, Miami is the only major subtropical city in continental U.S.; average temperature 75 F/ 23 C

88 Miami Happiest City to Work in U.S. Named the Happiest City to Work for the second consecutive year in 2016 Miami s growing startup/technology scene and all-year sunny weather were key factors in the high rating. (Source: Career Bliss January 2016)

89 Top U. S. City for Foreign-Born College Graduates and Professionals Miami ranked No. 1 in the nation for the percentage of foreignborn in its highly educated ranks those with some college through Ph.D. holders. (Source: FIU/Creative Class Group study March 2017)

90 Miami: 2 nd Most Desired City for Millennials Miami ranks as the second-hottest destination for millennials or those born after An international mecca for tourism and entrepreneurship, Miami is attracting millennials because they want to work, live and play in hip business and fashion communities like Wynwood and South Beach. (Source: Realtor.com March 2017)

91 Miami 2 nd Fastest Growing Economy Among Large U.S. Cities Miami s growing population, startup network, tech industry and new businesses fueled the high rankings. (Source: Wallet Hub September 2015)

92 3 rd Best Foodie City in the Country Miami ranked first in cities with the most restaurants per capita and third overall as the best foodie city. WalletHub compared the 150 most populated American cities. (Source: WalletHub October 2016)

93 4 th Healthiest City in America Miami s clean air, access to quality health care, rate of smokers, walkability and amenities were key factors in the ranking. (Source: Livability April 2015)

94 Miami #5 Most Walkable City in the U.S. Miami finished with a walk score of 75.6 New York (87.6) San Francisco (83.9), Boston (79.5) Philadelphia (76.5) (Source: Walk Score April 2015)

95 #5 Greenest City in the U.S. Miami s air quality, transportation, energy sources for heating in homes, and housing density contributed to the ranking. Miami trailed only Honolulu, Washington, D.C., Arlington, Va., and San Francisco. (Source: NerdWallet May 2015)

96 #6 Best Air Quality in the U.S. Miami had a median air quality index of 43, tied with Seattle, and Miami/South Florida cities of Hialeah and Fort Lauderdale. ( Source: 2014 U.S. Environmental Protection Agency Daily Air Quality Index)

97 #3 Largest County Park System in the U. S. Miami-Dade County Park System includes 260 parks and 12,825 acres of land

98 2 New Major Parkways Coming: The Underline is a proposed 10-mile long bikeway, walking path and linear park that will run underneath the elevated Metrorail tracks along U.S. 1 from Dadeland South to Brickell. The project is similar to the popular High Line in New York City. The Ludlam Trail is another proposed Miami walking and biking trail. Ludlam would turn an old rail line into a six-mile long bikeway path.

99 #1 Miami is the only major city in the U.S. bordered by two national parks Everglades National Park on the West Biscayne National Park on the East

100 Miami Most International City in the U. S. 51% of the Miami population is foreign born. Miami s concentration of foreign-born residents is more than double the national average of 19.4%. (Source: U.S. Census Bureau)

101 Miami A Top Shopping Destination Major Shopping All the Top Brands New Shopping Centers

102 #1 Miami metro area Most sales per square foot for non-anchor tenants than any metro area in the U.S. Ahead of D.C., New York & LA (According to the International Council

103 The $1.05 billion Brickell City Centre Hong Kong developer Swire Properties - 565,000 square feet of retail space, Class A offices, 373 luxury residences and more. and $1.7 billion Miami Worldcenter Downtown (under construction)

104 Proposed $4 billion American Dream Mall - one of the largest in the world (225 acres), 3 Million square feet, including: ski slope, water park roller coaster and much more

105 #2 Best Place in America to Start a Business South Florida finished second behind Austin, Texas for the best location to start a business. (Source: American City Business Journals study of small-business vitality, April 2016)

106 # 7 Fastest Growing Market for Construction Jobs in the United States Miami-Dade County ranked seventh for most construction jobs added over the past 12 months (Source: Associated General Contractors of America April 2016)

107 Cities that Never Sleep: New Paths for Economic Development Hugh F. Kelly, PhD, CRE NYU/Schack Real Estate Institute

108 24-Hour Cities Boston Chicago Las Vegas Miami New York San Francisco Washington D.C.

109 What is a 24-Hour City Excellent integration of business and residential districts, vibrant downtowns with outstanding cultural and entertainment facilities Cosmopolitan, attractive to young workers, edgy lifestyles Asserted to provide superior real estate investment performance

110 #8 Most populated region in the U. S. The Miami-Dade, Broward and Palm Beach metro area added 500,000 new residents in the past five years and now boasts more than 6 million residents for the first time (Source: U.S. Census Bureau March 2016)

111 # 6 City for Hispanic Entrepreneurs Two South Florida cities, Hialeah (No. 6) and Miami (No. 15), were both ranked among America s best cities for Hispanic businesses (Source: WalletHub April 2016)

112 #2 Highest Proportion of Hispanic Owned Businesses in the United States Miami finished with the second-highest proportion of Hispanic-owned firms with 69.2 percent, more than twice the U.S. average! (Source: U.S. Census Bureau s 2012 Survey of Business Owners)

113 #23 Best area for launching a career in the U.S. South Florida (Miami, Ft. Lauderdale, Palm Beach) earned high marks for career advancement (No. 15), quality of life (No. 20) and social opportunities (No. 11). (Source: Bankrate.com April 2016)

114 #12 Most Important City in the World for the Ultra Wealthy In the United States, Only New York and Miami are at the top for where ultra-high-net-worth individuals want to live, work and invest. (Source: Knight Frank- March 2016)

115 Top 10 Luxury Real Estate Market Christie s International Real Estate ranked Miami among its top 10 luxury markets in its Luxury Defined 2015 report. Only 3 other U.S. cities made the prestigious list: New York, Los Angeles, and San Francisco.

116 #4 Fastest Growing Neighborhood in America Downtown Miami Doubled from 40,000 to 80,000 residents from 2000 to 2015

117 7 th Fastest Growing Suburb in the United States Cutler Bay Cutler Bay in South Miami-Dade County is America s seventhfastest growing suburb. Cutler Bay offers a family-friendly community with numerous parks, the South Miami-Dade Cultural Arts center, Southland Mall and more. (Source: Realtor.com February 2017)

118 Banking and International Business Miami has the largest concentration of domestic and international banks south of New York City 87 financial institutions and 33 foreign banks and More than 1,000 multinational corporations

119 #11 best public transit in the United States Miami ranked 11th in the nation in transit among cities with a population of more than 250,000 (Source: AllTransit April 2016)

120 #2 Best place in America to Start a Business South Florida finished second behind Austin, Texas for the best location to start a business. (Source: American City Business Journals study of small-business vitality, April 2016)

121 Education

122 4 th Largest Public School System in U.S. 460 choice programs in all grade levels, which is the most of any Florida school district and among the top in the country. 345,000 students 102 magnet schools.

123 Miami has Top Miami Private Schools: Ransom Everglades School finished as the top-ranked private school in the nation in 2016 (according to Niche.com) Ranking factors included SAT/ACT scores, quality of colleges that students consider, student-teacher ratio, student and parent reviews, and more.

124 Universities Chinese students comprise the largest number of foreign students in South Florida, with more than 2,600 students. Venezuela (1,574) is second on the list.

125 South Florida has seven colleges and universities five law schools Miami Dade College is the largest and most diverse college in the natio and has the largest undergraduate enrollment of any college or universit

126 #10 South Florida in the nation for the most F-1 visa holders (18,617) The F-1 Visa (Academic Student) allows you to enter the United States as a full-time student at an accredited college, university, seminary, conservatory, academic high school, elementary school, or other academic institution or in a language training program.

127 The University of Miami is ranked as the 51 st best university in the nation (according to U.S. News & World Report) The University of Miami is known as a research institution, and research opportunities begin at the undergraduate level More than 180 majors and programs are available across nine schools and colleges

128 Florida International University (FIU) Designated as a top-tier research institution FIU has: The Herbert Wertheim College of Medicine and the School of Computing and Information Sciences' Discovery Lab

129 Florida International University Was the first U.S. university to establish campuses in China more than a decade ago, has about 5,000 Chinese students. FIU has a partnership with the Tianjin University of Commerce in Tianjin, China. The University of Miami has 942 students from China, the most among all foreign countries, according to the school s 2014 student enrollment

130 Arts & Entertainment

131 Downtown Miami has the highest concentration of cultural institutions in the Southeast

132 Courtesy Art Basel Art Basel draws the world s top collectors, and the Wynwood has gained national and global attentio for its trendy local art.

133 The Adrienne Arsht Center for the Performing Arts in Downtown Miami is one of the greatest music halls in the country MiamiEventful.com

134 Downtown Miami Perez Art Museum Miami (PAMM) New Phillip Frost Museum of Science in 2017, $305 million project will feature 5 stories, 250,000SF and a 500,000-gallon Gulf Stream shark tank. American Airlines Arena

135 American Airlines Arena Miami Heat Concerts Top Performers

136 Professional Sports

137 Miami s World-class sports & venues Basketball s Miami Heat at the AAA Baseball s Miami Marlins state of the art indoor/outdoor park Football s Miami Dolphins home stadium completed a half-billion dollar renovation with a large shade canopy

138 Legendary soccer player and global icon David Beckham is planning to build a new, 25,000-seat Miami stadium for a new Major League Soccer expansion team.

139 Florida Panthers Hockey Team Plays at the BB&T Center In Broward

140 College Teams in South Florida University of Miami Florida International University Florida Atlantic University

141 World-Class Beaches

142 Miami is Home to the Best Beaches in the United States Greater Miami has 84 miles of Atlantic Ocean coastline 67 square miles of inland waterways and more than 15 miles of world-famous beaches for running, walking, and

143 Miami is the United States warmest location in the winter. Miami is the only major subtropical city in the continental U.S. Average temperature is 75 degrees Fahrenheit / 23 degrees Celsius

144 Medical Tourism

145 Medical Tourism in important in Maimi Miami has 33 Hospitals and countless medical centers The region also provides specialized care that patients can t find in any other part of the world.

146 2nd largest Health District in the U.S. University of Miami's Health District has worldclass research institutions and state of the art medical treatment and educational resources. Includes the Renowned Sylvester Comprehensive Cancer Center

147 No. 1 Eye Hospital in the Nation University of Miami Health System s Bascom Palmer Eye Institute has ranked as the No. 1 eye hospital in the nation for 15 consecutive years.

148 #1 Top Destination for Migrating New Yorkers About 22,000 New Yorkers migrated to Miami between 2009 and (Source: U.S. Census Bureau)

149 Miami Realtors 160 Global Partnerships Worldwide

150 Posted at MiamiRE.com/Market Teresa King Kinney, CEO Lynda Fernandez, SVP