Miami and South Florida form the most international metropolitan area in the United States.  So, it comes as no surprise that Florida is the top state in the nation for international buying activity.  Twenty-six percent of all international sales activity takes place in the Sunshine State.  

As a world class destination, South Florida has a lot to offer to foreign buyers.  But European buyers get an added bonus when they purchase local real estate.  Already priced much lower than in other World Class Cities, South Florida properties are further discounted 25 to 50 percent due to currency exchange rates.  This in part is why European buyers account for 30 percent of all international real estate transactions in Florida and are an important part of South Florida’s strong economy. 

Maintaining this demand in our properties is important because it sustains healthy rates of appreciation.  International buyers also benefit our local communities because they pay more taxes but use fewer services.  This is because as part-time residents they usually are not entitled to homestead exemption tax breaks.  Their limited visits to the U.S. add major income to the economy and pay for a disproportionate share of taxes with little stress to our infrastructure.  

The Realtor^Ò Association of Greater Miami and the Beaches (RAMB) is the exclusive representative in Florida for SIMA’s organizers and is once again promoting South Florida and the local real estate market to international buyers and professionals at SIMA08 in Madrid, Spain.  SIMA, the largest real estate exhibition in the world, this year is slated for April 8-12.  RAMB will create a presence for South Florida real estate companies, projects and developments.  Those interested in participating in SIMA08 can either reserve a booth by visiting www.simaexpo.com or can register for RAMB’s Script to Screen package.  For more information, contact Lynda Fernandez (lynda@miamire.com).

International real estate professionals from all over the world will be participating in the International Professional Program (IPP) at SIMA08.  RAMB will also be conducting professional videotaped interviews with the leaders of our partner associations.

Look for information on Salon de l’Immobilier in Paris in Sunday’s column.

 Kimberly A. Kirschner, CIPS

Kirschner Realty International, Inc.

(954) 924-4107

kim@krionline.com