January 5, 2015
What is happening in Miami Real Estate Development? Where is the Market Headed?
On January 5, 2015, the Invest Florida- Real Estate Investor Show interviewed one of the most influential people in the State of the Florida in Real Estate is Tim Becker the Director of the Bergstrom Center for Real Estate Studies at the University of Florida in Gainesville
Tim informed hosts Steven Silverman and Eric Odum that UF has offered a real estate degree at Florida since 1945 – one of the longest running programs in the country. The main focus of our program is the Masters of Science programs, which is intensive 10 month resident program with typically 30 – 35 students in the program. They also have other programs such as an MBA with a real estate concentration in the Masters level and they offer a minor at the graduate level as well
In this show Tim focusses on the Miami real estate market. Tim advised that A lot of money from South America come in to the market, buying condos, people moving their from other countries, and downtown Miami has become the 24 hour city.
There is s tremendous amount of constructions going on and there’s an opportunity in that there is approx 1.5 M square foot of retais and high end retail in development going on in downtown Miami right now. This is needed because because retail vacancy is like 3 ½ percent. Of all of the market in the Florida Tim warns that for an investor it is wise to be cautious. An investor will find it difficult to find good deals. They will find compressed cap rates so it’s really not for the faint of heart. The time has arrived where Institutional type investors to start thinking about Miami. Miami is a tale of 2 cities Miami. There is really the foreign Market –and there is these everyday Miami which comprises the surrounding areas.
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