By August 2016 it was named AREAA’s fastest growing chapter, now with over 200 members and counting. Our chapter prides itself in offering ongoing education for professional development, as well as, powerful networking opportunities with industry leaders and like-minded practitioners
HISTORY OF ASIAN INVESTMENT IN U.S. REAL ESTATE
2005 – 2015 China was the source in aggregate of at least $350
billion in U.S. real estate holdings and investments by the end of 2015, according to a 2016 report by Asia Society, This figure includes the direct purchase of real property and indirect investment through the purchase of agency mortgage-backed securities and provision of debt financing, among other channels.
2010 – Asian American Pacific Islanders become the top minority participant in terms of both loans secured and total dollar volume. AAPI are also becoming more active in the U.S. mortgage market.
2016-2020 – Chinese direct investment across existing U.S. commercial real estate assets and residential purchases, excluding new development projects, could total at least $218 billion, cumulatively, from 2016 through 2020. Source: “Breaking Ground: Chinese Investment in U.S. Real Estate” by Asia Society
W H Y M I A M I ? New York, Los Angeles, San Francisco and Chicago – the traditional gateway markets for Chinese and AAPI investment in U.S. real estate – have become oversaturated, making elevated returns difficult to achieve. Miami, with its better value proposition on PSF for prime waterfront residential real estate, advantageous geographic location, infrastructure, access to trade, technology, communications, tropical lifestyle, thriving financial center and gateway status to the Americas, makes it Miami has become the most attractive investment opportunity
M A J O R S O U T H F L O R I D A M I L E S T O N E S
• 2016 – For the 1st time, Chinese buyers ranked in the top tier of foreign purchasers in South Florida. Investment in Florida real estate by Chinese buyers has increased by 1 percent Y-O-Y for three straight years, according to the Florida Association of Realtors.
• May 2016 – $220 million purchase of the iconic Miami Tower by the U.S. arm of Japanese trade conglomerate Sumitorro Corporation was one of our city’s biggest investment deals this year, as well as a surprising display of optimism from a company that has only a handful of marquee properties stateside.
• November 2016 – Brickell City Centre by Hong Kong-based Swire Group opens, marking the firm’s second successful development in South Florida
• April 1, 2017, Chinese President Xi Jinping arrived in Palm Beach to meet with President Donald Trump, casting a giant spotlight on South Florida. (Within seven months of Jinping’s 2015 visit to Seattle, it became the No. 1 destination for Chinese buyers of U.S. real estate.)
• April 21-23, 2017 – AREAA hosts Global Luxury Summit in Miami. More than 700 attendees representing all 37 Chapters and a dozen countries to Miami, making GLS 2017 the largest gathering of Asian American real estate practitioners in the history of the Miami. T H E F U T U R E I S B R I G H T
• 2016 – 2018 – Direct Flights between Miami and key cities across Asia are on the horizon and expected to be announced before 2018.
• 2016-2020 – Chinese direct investment across existing U.S. commercial real estate assets and residential purchases, excluding new development projects, could total at least $218 billion, cumulatively, from 2016 through 2020
V I S I O N
To be South Florida’s leading platform for the promotion of economic growth and sustainable homeownership within the Asian American Pacific Islander (AAPI) community through the connection, development and fostering of relationships with local, regional, national and global real estate practitioners, business professionals and government officials. M I S S I O N
To facilitate sustainable homeownership and the growth of Greater Miami-Dade’s business, social and real estate sectors by aligning all Asian American Pacific Islander initiatives in South Florida. To provide a means for the development of resourceful connections between local, regional, national and global real estate practitioners, business professionals and government officials within the AAPI community through the organization of productive, informative events. To advocate for and advance the development of stronger ties between AAPI and the South Florida community, support economic growth and steward connections.
2 0 1 7 G O A L S
To become the leading channel for South Florida real estate practitioners, business professionals and govern officials for all events related to the Asian market. To grow the Greater Miami membership by 20%. To develop, organize and execute productive, informative events (4-6/per year) to increase awareness of AAPI community happenings and investment in South Florida, foster networking opportunities, improve the city’s social and technical infrastructure, maximize creativity, sharing of ideas, encourage innovation, and/or support and steward AAPI connections in our community. To support AREAA National’s mission to promote sustainable homeownership opportunities in Asian American communities by creating a powerful national voice for housing and real estate professionals that serve this dynamic market.
