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Canadians Top Foreigners in South Florida Apartment Purchases

MIAMI-Income-producing properties are favored ahead of shopping centers, warehouses, offices and hotels/motels in that order, according to a second-quarter analysis by Integra/AREEA Inc. Japanese investors are largely absent.

By Alex Finkelstein | Updated on November 06, 2000

MIAMI-Foreign investors continue to drive South Florida’s investment sales market even though the number of deals are dwindling. Those that are completed, however, are being recorded at higher prices than a year ago, according to a second-quarter analysis by locally-based Integra/AREEA Inc.

Foreign money accounted for 16.7% of all deals done in the tri-county area, the largest chunk since second quarter 1982. The value of the deals was up 9.9% from last year.

Funds from abroad totaled $205.2 million in Miami-Dade, Broward and Palm Beach counties, down 17.1% from $247.5 million in the comparable 1999 period.

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