For Middle Eastern commercial real estate funds and investment firms, the U.S. market is still the most desirable investment destination for foreign real estate properties.
According to the latest statistics from Roxanne Kosberg, owner and CEO of Cityfirst Realty LLC, a licensed Florida high-end real estate company specializing in assisting mostly foreign nationals, as well as some of the world's richest and most accomplished business men and celebrities purchasing or selling multi-million dollar properties, as well as selling houses to some of the world’s richest and most accomplished businessmen and celebrities in the world, says, “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.” “In 2019, South Florida recorded an all-time high of 71% sales achievement from Foreign Buyers in which 11% came from the Middle East region.” she added. There is a significant number of foreign investors coming from the whole Middle East and its neighbouring region such as South Asia, including but not limited to UAE, Qatar, Turkey and India.
Most of their investments have a wide range starting from US$1,000,000 - US$50,000,000++ on residential and commercial properties located in the areas of Miami Dade County (Miami, Miami Beach, Surfside, Bal Harbour and Sunny Isles Beach,” added Roxanne. Middle Eastern investors continue to invest in South Florida specifically for many of the same reasons as they always have. Below are the top three reasons why Middle Easterns are still eyeing South Florida as their top property investment destination.
“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,” added Roxanne.