Summary
Chinese and Singaporean buyers are showing significant interest in purchasing real estate in South Florida, according to data from the Miami Association of Realtors. Despite restrictions like Florida's pending ban on certain property purchases by Chinese nationals, the demand remains high, impacting the local housing market.
Key Facts
- Chinese and Singaporean buyers ranked as the top two international groups interested in South Florida real estate.
- Florida is a hotspot for international property buyers, with 21% of U.S. international real estate purchases occurring there.
- Miami is a particularly popular market within Florida, attracting half of the state's international real estate purchases.
- Chinese interest persists despite a pending Florida law that could restrict property purchases by Chinese nationals without permanent U.S. residency.
- The ban, SB 264, is temporarily halted due to legal challenges.
- Foreign buyers, including those from China, account for nearly half of new construction and condo conversion sales in South Florida over 18 months.
- President Trump signed an order for a "Gold Card" investor visa offering residency for a $1 million investment, which may benefit South Florida's real estate market.
