July 4, 2015 - Unlike San Francisco and New York, Miami has no Chinatown nor a large Chinese demographic, but all that could change with the rising influx of Chinese nationals buying real estate in Florida. According to last year’s National Association of Realtors profile of international homebuyers, China accounts for nearly 6% of all purchases by non-resident foreigners in Florida, the same number as Brazil. Though the Chinese buy mainly in Gainesville, Bradenton-Sarasota-Venice, Orlando-Kissimmee and Panama City-Lynn Haven, five percent (5%) of Chinese buyers purchased homes in Miami-Miami Beach in 2014. Approximately 79% of these buyers paid cash for residences; about 50% purchased single-family, detached homes. Suburban (47%) and central city/urban areas (34%) are the preferred destinations of Chinese buyers, with 16% in resorts and 3% in small town or rural locations.

    The Real Deal‘s Broward Real Estate Forum & Showcase recently discussed the impact of Chinese buyers on South Florida and found education to be the biggest factor. Says Terra Group developer David Martin: “Most Chinese buyers I’ve met want their kids to go to school here, and they want them to stay here.”

  Miami Today reported: We’re seeing the beginning of substantial investment in Miami with its first major Chinese investor, Beijing-based China City Construction. With big plans to develop condos, retail and office space, CCC and New York-based American Da Tang Group purchased the 2.39-acre construction site at 1430 South Miami Avenue in Brickell for $74.7 million [in cash] last December -- the full block between 14th Street & 14th Terrace and South Miami Avenue & Southwest First Avenue.

   Dr. Shanjie Li, American Da Tang’s CEO/chief economist (pictured), says most Chinese investors are successful business people who chose properties in New York and L.A. for specific school districts. Says Li: “The trend is changing, and most people are seeking to transition their whole family to live full-time in America. Miami is a great destination [because] it’s open and most of the city’s population are immigrants. It’s a very beautiful city. The natural environment is spectacular! The weather makes it ideal for water sports and golf. Miami is already a base for international wealth with great potential for economic growth. It’s developing like the coastal cities in China.”

     Sounds like a great match for South Beach homes for sale where the Miami Beach public golf course is five blocks from the beach. Just look at this view (above) from a flat across the street at Meridian Lofts where a 2BD/2BH goes for $2,195,000.

Normandy Isles also offers homes that ring the island golf course. Like this 4BD/3BH designer gem on North Shore Drive for $1,149,000 near bayside tennis courts and the back nine. And, the golf prive at La Gorce and Indian Creek Country Clubs is sublime. Call Streamline 305.532.7368 today.

- Cyn. Zarco