Miami Included In Top Metros In The United States
If you look at the first half of this year, you will see proof that the Asian investment in terms of global commercial real estate is on its way to creating a record for this particular year. There are a number of metros in the United States that are reaping the benefits for the commercial real estate investment coming from Asia but Miami is on top 4.
According to a report by CBRE Group which is a global property advisor, a new study revealed that investments coming from Asia for the global commercial real estate have a total of around $27 billion for the first six months of 2016 alone.
When it comes to the outbound investments from Asia in the field of commercial real estate, there is a rise due to many factors based on the report. These factors include increase wealth in many of the Asian countries, higher demand as well as deregulation of overseas investment in terms of real estate which has made it possible for the outbound investments to be a reality.
The study showed that Miami is just one of the many metros that have benefited from this.
In Miami, the commercial real estate was reported to have received around $665 million worth of investments from Asia for the first six months. Miami is considered the top 10 in the most well known destination for investments coming from Asia in the same time period. Overall in the United States, it is the top 4 most well known.
New York tops the rank of the United States destinations when it comes to Asian investments for the first six months of 2016. The city has received around $4.02 billion while San Francisco comes in second place with $1.4 billion while Chicago’s Asian investment is worth $1.34 billion.
In the past few years, there have been a series of events from all over Asia especially in China that led to the outpour of capital from the Asian markets. Thus real estate is booming in Asia especially in Thailand where there is a high demand for east coast real estate.