China Enters South Florida Residential Market

March 27, 2012

What's interesting to note is that many Chinese buyers are looking for investments that are $500,000--which just happens to be the minimum buying purchase for a buyer to be eligible for the much sought after EB5 visa. This would entitle the buyer to U.S. residency, and many developers have gone to China to attract investments using this as a strong incentive. It seems that obtaining a U.S. visa has become an influential reason for affluent Chinese buyers to dramatically show interest in U.S. real estate, especially in South Florida.

There are two major factors, aside from obtaining a visa, that would greatly increase Chinese involvement in the real estate market here in South Florida. Chinese buyers are more than likely to purchase properties where there is already an established Chinese presence, but currently South Florida lacks a prominent Chinese community. However, buyers from China are also influenced by their friends, and if Chinese buyers make a move to South Florida, more will follow.

This is only a glimpse of a trend that will soon pick up traction this year, and we here at The Seaside Group at Douglas Elliman, Inc. will be keeping a note of China's increasing role as the new player in the South Florida residential market.

Source: China Targets South Florida Residential Market