Good news for Miami real estate players hungry for Asian capital.
A report from commercial brokerage CBRE shows more than half a billion dollars worth of Asian cash flowed into Miami real estate during this year’s first six months, making it the country’s fourth-most popular destination for investments from across the Pacific.
According to the report, Asian investors spent $665 million on real estate in Miami during the first half of this year, marking a massive jump in volume from the $34 million during the same time period in 2015.
The flow of capital from Asian countries, especially China, has reached record levels in the past year as investors seek to hedge themselves against risk in their domestic marks. In particular, the depreciation of China’s yuan makes investing in U.S. real estate a comparatively safe bet, according to the report.
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