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Miami …A Global
Perspective
Highest Number of Sales
In our 93 Year History
2011
2012
2013… Could be another!
March 2013 Sales Prices Single Family
Median $230,000
+21.1%
Condos
$185,500
+15.9%
% Increase over June 2012
Miami Sales Prices Increase
December 2011 … Began Double-Digit Appreciation
Condominiums – 24 Months
Single-Family – 19 Months
Prices still equal to 10 years ago - 2003
Inventory Dropped
46,000 in August 2008
13,179 in June 2013
5,006 SF --- 8,179 Condos
34,000 Less
75% Decrease
5.1 Months of Inventory
Properties are selling at95% of List Price – SF
96.6% of List Price - Condos___________________
Median days on marketSingle Family - 43 days
Condos - 28 days
Cash SalesNational
33% Cash Sales
Miami
60% Cash Sales
42% Single Family74% Condos
_____________
New Construction apx 90%
Distressed PropertiesMiami-Dade
June 2013
36.7% DistressedDown 44.4% from previous year
U.S.
June 201318% Distressed
Internationally
Speaking …
New NAR International ReportReleased June 2013
International Sales: $ 68.2 Billion in 12 Months Ending March 2013
6.3 percent of the total U.S. Existing Homes Sales (EHS) market of $ 1.08 trillion
National figures
NAR: • Economic slowdowns
in a number of major foreign economies
• Exceptionally tight mortgage credit standards
National statistics …
Miami Realtors …• More connected• More international• More online• More tools• More resources• More sales!!
Top 14 Countries
1. Canada2. China3. Mexico4. India5. U.K.6. Germany7. Argentina8. Israel9. Australia10.Korea11.Brazil12.France13.Venezuela14.Russia
China –
… the five markets of greatest interest to potential Chinese buyers:
• Detroit, • Los Angeles• Irvine• Las Vegas• Orlando --------• Miami?
Top 8 StatesIn U. S.
26% Florida
17% Calif.
9% Arizona9% Texas
3% N.Y.3% Virginia
2% Georgia2% Nevada
39% Canada29% Latin America/Caribbean23% Europe6% Asia/Oceania4% Africa/Middle East
54% Asia/Oceania16% Europe12% Latin America/Caribbean11% Canada8% Africa/Middle East
Florida California
The MOST International Business in US
Nearly 1 in 4 in Florida
Nearly 1 in 3 in Florida is Miami
Last year Miami/Ft. Lauderdale combined … 30%
Now Miami alone is … 31.3%
Top Florida Markets
Florida1) Canada 31%
2) Brazil 9%3) Venezuela 7%4) Argentina 5%
5) UK 5%6) Colombia 4% 7) France 4%
8) Germany 4%
Miami1. Venezuela2. Argentina3. Brazil4. Canada5. Colombia6. Mexico7. France
1 Venezuela2 Argentina3 Brazil4 Canada5 Colombia6 Mexico7 France8 Spain9 Italy 10 Peru
11 Ecuador
12 D. R.
13 Russia
14 Chile
15 Germany
16 China
17 UK
18 Honduras
19 India
20 Costa Rica
21 Panama
Venezuela
Miami 67.4%
Miami/Ft. Lauderdale 83.7%
Brazil
Miami 49.2%Miami/Ft.Lauderdale 67.4%Miami/FtL./P.Beach 74.2%
Orlando 13.6%
Latin America(Except Brazil & Venezuela)
Miami 65.8%
Miami/Ft. Lauderdale 73.7%
Top Florida Destinations
Miami 31.3%
Miami/Ft. Lauderdale 42.9%
Who’s looking at Miami properties…
Realtor.com/international June 201310 most searched U.S. cities:
1. Los Angeles, CA2. Miami, FL3. Las Vegas, NV4. Orlando, FL5. Washington, DC6. Detroit, MI7. Houston, TX8. New York, NY9. Atlanta, GA10.San Diego, CA
Where areInternational BuyersSearching in U.S.?
Top 5 marketsFor each of top20 countries
June 2013
Canada: Las Vegas, Los Angeles, Miami, Detroit, OrlandoU.K.: Los Angeles, Orlando, Washington DC, Atlanta, MiamiAustralia: Los Angeles, New York, Las Vegas, Detroit, HoustonIreland: Washington DC, Los Angeles, Orlando, Miami, Las VegasJapan: San Diego, Jacksonville, Los Angeles, Honolulu, San AntonioGermany: Los Angeles, Miami, San Antonio, Las Vegas, Colorado Springs,Brazil: Miami, Orlando, Los Angeles, Boca Raton, Fort LauderdaleIndia: Los Angeles, Washington DC, Dallas, New York, Las VegasMexico: San Diego, San Antonio, Houston, Laredo, MiamiFrance: Miami, Los Angeles, Washington DC, New York, HoustonItaly: Miami, Washington DC, Los Angeles, New York, San DiegoNetherlands: Los Angeles, Miami, Houston, New York, Las VegasChina: Los Angeles, San Francisco, Las Vegas, New York, San DiegoPhilippines: Las Vegas, Los Angeles, Houston, San Diego, San FranciscoSpain: Miami, Los Angeles, Washington DC, New York, San DiegoSouth Korea: Los Angeles, Irvine, Las Vegas, Colorado Springs, San DiegoRussian Federation: Los Angeles, Miami, New York, Orlando, San FranciscoSwitzerland: Miami, Los Angeles, Washington DC, Raleigh, New YorkNew Zealand: Los Angeles, Washington DC, New York, Las Vegas, SeattlePoland: Detroit, Los Angeles, Chicago, Miami, New York
Top 10 Visitors by Country on Miamire.com
July 20121. Brazil2. Canada3. Argentina4. Venezuela5. Colombia6. India7. France8. Mexico9. Italy10. U. K.
1. France2. Canada3. Venezuela4. Colombia5. Brazil6. Argentina7. Germany8. India9. U. K.10. Belgium
July 2013
Top 10 Visitors in U.S. on Miamire.com
July 20121. New York2. California3. Georgia4. Pennsylvania5. Texas6. North Carolina7. Illinois8. Virginia9. Michigan10. New Jersey
1. California – San Francisco2. New York - NYC3. Texas - Dallas4. Georgia - Atlanta5. Illinois - Chicago6. North Carolina - Durham7. Virginia - Alexandria8. New Jersey - Montvale9. Massachusetts - Boston10. Tennessee – Nashville
July 2013
Who’s next?
ChinaHong KongSingapore
And … . . . more Argentina, Venezuela, Brazil
March 23, 2013The 10 most expensive Billionaire cities to call home. No surprise, half of them are in Asia.
Averages:1. Hong Kong - $11,000/SF (5,200 SF)2. Tokyo - $7,500/SF (16,000 SF)3. London - $5,300/SF (7,900 SF)4. Paris - $4,400/SF (10,800 SF)5. Moscow - $4,250/SF (4,600 SF)6. New York City - $4,100/SF (6,500 SF)7. Shanghai - $2,125/SF (5,400 SF)8. Singapore - $1,820/SF (12,300 SF)9. Mumbai - $970/SF (6,800 SF)10. Sydney - $880/SF (19,400 SF)
http://www.forbes.com/sites/luisakroll/2013/03/09/mapping-the-wealth-of-the-worlds-billionaires/
March 6, 2013
The number of High Net Worth Individuals - people with more than $30 million in investable assets – is forecast to rise by 95,000 over the next decade, according to wealth intelligence firm, Wealth-X. The result is that each year there are more people who want, and more importantly, can afford, luxury properties.
1. Monaco - $5,350 - $5,920/SF 2%2. Hong Kong - $4,570 – 5,050/SF +8.7%3. London - $3,890 – 4,300/SF +8.7%4. Geneva - $2,720 – 3,020 - 6%5. Paris - $2,350 – 2,600/SF - 4%6. Singapore – $2,340 – 2,580/SF +.6%7. Moscow - $2,040 – 2,260/SF -2.3%8. New York - $2,030 – 2,240 -1.4%9. Sydney - $2,020 – 2,230/SF 0%10. Shanghai - $1,820 – 2,020/SF +10.8%
3/22/13
http://www.forbes.com/sites/luisakroll/2013/03/09/mapping-the-wealth-of-the-worlds-billionaires/
3/4/13The ranks of the world’s billionaires, as monitored and tallied by our global wealth team, have yet again reached all-time highs.
The 2013 Forbes Billionaires list now boasts 1,426 names, with an aggregate net worth of $5.4 trillion, up from $4.6 trillion. We found 210 new ten-figure fortunes. Once again the U.S. leads the list…
Forbes 3/4/13
Number of Billionaires 1,426
Top concentrations:
U.S. 442
Asia-Pacific 386
Europe 366
Americas 129
Middle East & Africa 103
5/6/13Asian cities dominate global millionaires’ ranking
Across the top 20 cities worldwide, Asian cities boast more millionaires than any other continent (report by London-based consultant WealthInsight).
___________________________ World City Millionaire Rankings May 2013 - FT Alphavilleftalphaville.ft.com/files/2013/05/World-Cities-wealth-briefing.pdf WealthInsight. This report is a licensed product and is not to be photocopied. http. World City Millionaire. Rankings. May 2013. WealthInsight.
Cities with Highest Number of Millionaires
1. Tokyo 461,000 2. New York 389,0003. London 281,0004. Paris 219,0005. Frankfurt 217,000
6. Beijing 213,000 7. Osaka 190,0008. Hong Kong 187,0009. Shanghai 166,000 10.Singapore 157,000
BillionairesTop Cities
1. New York 702. Moscow 643. London 544. Hong Kong 405. Beijing 29
In Top 20: 4 Mainland
Chinese CitiesBeijing 29 Shanghai 23Shenzhen 19 Guangzhou 12
Ultra HNW individuals (more than US$30 million net)
1. London 4,224 2. Tokyo 3,525 3. Singapore 3,154 4. New York 2,929 5. Hong Kong 2,5606. Frankfurt 1,8087. Mexico City 1,8508. Paris 1,5009. Osaka 1,45010. Beijing 1,318
Top 20 …8 in Asia; 7 in Europe; 5 in the Americas
Miami “The New Global City”3-page article in Print and Online
Miami featured with London, Paris, Hong Kong, New York!
Global Cities ReportKnight Frank
Top Global Cities… Dubai, Miami, Nairobi and London are increasingly
considered investment hubs for HNWIs in their wider regions.
"Aside from London, it would appear the other strong performers are either those
established international markets that experienced a lull but are now 'kicking on'
again (e.g. Miami, Dubai) or those that could be described as second tier international
cities - strong established markets, but not global 'gateway' cities (e.g. Zurich, Vienna, San Francisco), where interest has driven
price rises from a lower base."
Global Media Coverage
MiamiRE.com
Search forPropertiesIn Miami,
Ft. Lauderdale, Palm Beach
AndFrance, Brazil & soon India
Over 100 Global Partnerships Worldwidehttp://www.miamire.com/International/miami-partner-organizations
“Miami Market” Highlights BookletEnglish, Spanish, More
http://www.miamire.com/sites/miamire.com/files/PDF/2013_Euro_Mag_040113_Eng_Sm.pdf
This Presentationhttp://www.miamire.com/market
International Reportshttp://www.miamire.com/international/international-resources
Our Gift: Online Resources
www.miamire.com
Teresa King Kinney, [email protected]
305-468-7010
Lynda Fernandez, [email protected]
305-468-7040
