Miami International Real Estate Congress Attracts Worldwide Foreign Delegates

Submitted by International on 22 August 2012 - 11:17am

August 22, 2012

International buyers have been instrumental in the Miami market's recovery and will continue to boost the local market long into the future. As the top markets for international buyers in the U.S., Miami and South Florida attract record numbers of international real estate buyers every year. Buyers representing countries around the world helped the Miami market recover faster than experts predicted and in a stronger fashion than any other in the U.S.

The impact of foreign buyers even helped Miami set an all-times sales record in 2011, exceeding sales levels during the height of the boom in 2005. Buyers and investors continue to take advantage of record affordability, strong foreign currencies, and the U.S.'s status as a safe haven. Miami further offers an exciting lifestyle, enviable year-round weather, and cultural affinity that are permanent fixtures of the local landscape.

U.S. and international buyers, including retirees and baby boomers, contribute in a significant manner to the strength of the local market, as they purchase vacation and second homes as well as investment properties. Miami has all potential buyers seek: international ambiance, global business environment, cultural activities, and beach front or water access living.

International buyers represent approximately 60 percent of all real estate transactions in Miami. The percentage of international buyers in the downtown and beach areas is probably closer to 90 percent.

Traditionally, buyers from Canada, Latin America, and Western Europe made up the majority of foreign buyers in South Florida. But now due to globalization trends and promotion and positioning of the local market, buyers from markets throughout the world, including Eastern Europe, Asia, and the Middle East, are taking advantage of local opportunities.

International Ties
The Miami Association of Realtors® (MIAMI) has over 100 foreign partner associations throughout the world that result in important market connections, referral business opportunities, and unprecedented visibility for Miami and South Florida. Through these established relationships, MIAMI promotes the local market at global conferences, exhibitions, trade missions, and other events. This year in particular many delegates from these partner associations will attend MIAMI's International Real Estate Congress & Expo

The 18th Annual Miami International Real Estate Congress & Expo, which is slated for November 4-6, will draw in excess of 300 U.S. and foreign real estate professionals for three powerful days of programming, networking, property tours, receptions, and more. The Congress will take place at the historic Biltmore Hotel in Coral Gables (Miami) and offer participants easy-access to all that Miami has to offer – restaurants, shopping, beaches, and sporting and performing arts events.

The Congress has been widely-recognized repeatedly as a premier platform successful in connecting worldwide real estate markets and professionals and in generating impressive referral business opportunities and results.

"We expect the 18th Miami International Real Estate Congress to be an overwhelming success," said Teresa King Kinney, chief executive officer of MIAMI. "The Congress will bring together a record number of international real estate professionals who will learn about buying and investing in Miami. These professionals will help promote our market to foreign buyers and investors, strengthening Miami's position as a global hotspot and boosting our local economy."

Congress participants learn about market conditions in Florida, the U.S. and abroad; gain powerful marketing insights; connect with real estate professionals from around the world; and generate business transactions.

This year the Congress is expected to attract increased attendance and attention because it is scheduled immediately prior to the National Association of Realtors Conference & Expo in Orlando on November 9-12. The national conference's proximity to Miami will result in increased numbers of international and U.S. participants.

Confirmed delegations from MIAMI International Partner Organizations include:

• SECOVI, FENACI, COFECI and Balneario
  Camboriu – Brazil
• Russian Guild of Realtors – Russia
• FNAIM – France
• AMPI – Mexico
• AEGI – Spain
• ASPAI – Peru
• ADIPE – Uruguay
• IVD - Germany
• Plus other global markets

The three-day event will feature world-renowned speakers, including National Association of REALTORS® (NAR) Chief Economist Lawrence Yun, FIABCI World President Alex Romanenko, and Condo Vultures Realty & Consulting Founder Peter Zalewski. MIAMI Chief Executive Officer Teresa King Kinney and COO and Chief Marketing Officer Deborah Boza-Valledor will again host the Congress and present sessions during the event.

Coming Soon...
2012 Miami International Market Report
Miami will release the highly-anticipated 2012 Miami International Market Report at the Congress, offering participants and the media the latest update on international buying activity in Miami. The report reveals market share of foreign buyers, characteristics of foreign purchases, and a year-over-year comparison on market conditions.

Congress-related activities include:

• Four-day Bahamas & Key West Pre-Congress Cruise – October 29th – November 2nd
• Special International Program featuring NAR President Maurice "Moe" Veissi – November 2-4
• Post-Congress Property Tour & Luncheon in
  Fort Lauderdale on November 7th followed by
  coach transportation to the NAR Conference in
  Orlando

Miami Realtors Expo – November 2
Miami will host an expo, also at the Biltmore Hotel, on Sunday, November 2nd from 1 PM to 5 PM, featuring both U.S. and international exhibitors showcasing properties, industry related products and services, and educational workshops for MIAMI members.

For more information on the Miami International
Real Estate Congress & Expo,
go to 2012MiamiCongress.com.