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The state has grown to 18.8 million residents and is projected to hit 28 million by 2028 Â

BACKGROUND     World class visitor attractions, the State's lifestyle and golf attractions, 82.6 million visitors came to Florida in 2010, an increase of 2.1 percent over 2009 figures, making Florida the most visited destination in the World.         

370,000 new residents per year. Â

The state has grown to 18.8 million residents and is projected to hit 28 million by 2028 to become the third most populous State in the United States. Population growth should remain strong through the end of the decade, with gains averaging around 370,000 new residents per year.


The annual real estate tax in Florida is 2% of the 

In recent years private equity groups and institutional investors have already completed

estimated value of the property

more than 80 deals for a combined 8,300 units with more than 10.3 million square feet of space near the water for a price tag of nearly $2.3 billion, according to property records in Miami-Dade, Broward and Palm Beach counties.       

80 deals for a combined 

8,300 units

10.3 million square feet Â

At the end of 2010, bulk buyers had successfully resold 24 % of their inventory on a retail basis for an average premium of $51 per square foot. Some bulk buyers have done much better than that average, achieving spreads for oceanfront projects of as much as $300 per square foot. 


Approximately 60% of all U.S. trade with Central America flows though



Many companies are choosing to move their Headquarters to Miami as the city provides an ideal central location for trading 


Zurich Financial services moved its

Latin American regional headquarters from Santiago, Chile, to Miami in early


The company identified the city as a strategic location which hosts the Latin American headquarters of many financial services companies, reinsurers and major broking partners. A central and convenient location, the city also offers the chance to use existing infrastructure, making it an ideal hub location.

Miami is the headquarters for the Latin American operations of many major corporations, including American Airlines, Cisco, Disney, Exxon, FedEx, Microsoft, Oracle, and Sony. The Miami area has over 150 financial institutions, 60% Central American 46% of Caribbean, and 27% of South America trade flows through Miami


Miami’s market is beginning to subside as property has began to move again, thanks largely to cash buyers from all corners of the globe includingVenezuela, Argentina, Brazil, Canada, Europe and other locales who are choosing to invest in the area. 

75,000 single family homes, townhouses and condos resold this year Â

Miami is attracting significant hotel investor interest. Hotel transaction volume in Miami topped $210 million in 2010, a 40

percent rise on the previous year. Deal volume in Miami is expected to amount to as much as $750 million in 2011, representing an increase of up to 250 percent on 2010 levels.    

There were 75,000 single family homes, townhouses and condos resold this year, an average 6,250 per month, compared to

67,000 in South Florida in 2006. That number marks a 10.4 % increase over 2009 In comparison to New York which dropped 13%, Los Angeles 20%, and San Francisco which dropped 37%, Miami rose 8% in March 2011. As confidence in the area returns, smart investors are now able to cash in on the fantastic offers available, saving themselves up to 50% on the original market value. 


Last year 3,700 units in downtown Miami sold, up 57% from 2,300 in 2009. Some

1,600 units sold in 10 bulk deals

Bulk sales have played a significant role in Miami's condo recovery, as South Florida's cachet continues to grow. Nationally, 28% of sales were all-cash transactions in 2010 while downtown Miami prices rose 15% in 2010 from a year earlier.

A trio of lenders have taken control of more than 1,900 new unsold condos located in six skyscrapers in Greater Miami in three separate transactions. Newly created entities of HSBC Bank USA, Bank of America, and iStar Financial have taken ownership of a combined two million square feet of new saleable condo space in a pair of troubled projects - Everglades on the Bay and ICON Brickell - in Greater Downtown Miami and a third project - Terrazas River park Village - just east of Miami International Airport

K2 Miami Overview  

City of Miami K2

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