Blog

Evolving Real Estate Market: The New Miami is Made up of Foreign Buyers

Back in July, Business Insider published an article citing the buying power of foreign investors in the U.S., naming 5 countries specifically whose citizens were buying the most – a total of US$153 billion over the period of a year: China, purchasing US$31.7 billion; Canada, purchasing US$19 billion; United Kingdom, purchasing US$9.5 billion; Mexico, purchasing US$9.3 billion; and India, purchasing US$7.8 billion in real estate. And that was just residential, so it didn’t include statistics of foreign nationals buying commercial properties.

Nationwide, foreign buyers seeking property in the U.S. have become a notable force – but still accounting for just 5% of home sales in the country. When it comes to Miami and South Florida’s local market, this percentage is more than ten times that. According to a data compilation published in July 2017 in the Miami Herald, foreign buyers accounted for a whopping 80.2 percent of residential sales in Miami-Dade county. Miami has been called the “most international city in United States,” by the CEO of the Miami Association of Realtors, so this is nothing surprising.

During 2016, international sales came to a total of $6.2 billion in South Florida. Venezuela was at the top of the list of foreign nationals buying property in South Florida, making up 15% of sales. The country’s current political and economic unrest has been the catalyst for many residents to move their assets offshore. Following Venezuela on the list of top international buyers were residents from Colombia, making up 10% of international sales, Canada at 6%, Mexico at 4%, France and Peru at 4% & Italy, Ecuador and China at 3%. Brazil and Russia were also included in the list of top buyers. When it comes to interest and web searches, we see a slight shift in which countries hold the top spot of international buying power. As of July 2017, according to The Real Deal Miami, Colombia came in as the #1 country with its residents searching for properties in Miami to invest in. This was followed by Canada, Argentina, Venezuela, Spain, Brazil, France, India and Italy, in that order.

With plenty of change and shifts going on with foreign currencies, economic climates, political environments and morphing regimes, Miami continues to be a promising place for foreign nationals to live and work in. It is no longer a place just to liquidate capital in; the vibrant lifestyle Miami offers and the rapidly developing metropolitan quality of the city is attracting more and more foreign nationals to spend their time and money in. Developers in Miami are also catering to this shift in the international perspective of Miami as more than just a money vault.  

There was once a time when international residents simply bought up spaces in mixed use buildings and let their assets sit. Now, Miami’s growth paired with external factors have made it a more enticing place for these international buyers to come live in. “Lifestyle spaces” like the famous Brickell City Centre that includes a place to live, work and play in are being scooped up by foreign nationals at an dizzying rate. In Brickell City Centre’s Reach & Rise condos, 80% of the residential project is foreign owned. Also, the emergence of available foreign national loans and agencies that specialize in providing foreign national mortgages for residential and commercial properties in the U.S. has offered another alternative to buying properties with cash outright. Some Florida mortgage lenders specialize in providing financing to international buyers with special foreign national loans programs that walks them through the entire process from applying through closing, making it more accessible and comprehensive than ever for a foreign investor to buy property in Miami.

Residential spaces aren’t the only lure; emerging markets forming in pockets all around the city are driving more foreign buyers to invest in commercial spaces and projects, creating a self fulfilling effect in which the value they perceive in the city is being furthered by their investments.

With the steady influx of international property buyers, the city is looking more diverse than ever before. The pool of property ownership and investors is expanding, including a more diverse group of nationalities everyday, ultimately driving up the city’s value internationally. The future is bright for the magic city and it’s already diverse makeup is only getting more global and valuable  with every new property purchase and development.

Read more

Why Investing in Miami Properties is a Huge Win for Foreign Buyers

Miami is one of those cities that has attracted everyone from all over the world for decades. There are more international buyers in Miami than in the rest of the United States. 72% of The National Association of Realtors members in Miami-Dade and Broward reported working with an international client back in 2014 – that’s much higher than the national average, which is 28%. Foreign buyers tend to spend more on properties in Miami than even domestic buyers.

As far as superficial reasons, It’s a no brainer; there’s sunny, warm weather virtually year round, offers proximity to some of the nicest beaches in the world, is a port city, features a young, energetic nightlife, offers world class shopping and many other luxuries. But apart from the obvious, there are some key reasons why it is a great place for foreign nationals looking for a place to buy properties, whether for commercial investments or for residential units.

Strategic Location

For Latin American and Caribbean buyers specifically, the proximity to Latin America is a huge draw. Going back and forth from Latin America to Miami is just a few hours of flight time for those who need to fly back whether to see family and friends or to handle business. The top countries investing in South Florida in all the surveys and research campaigns each year always include Colombia, Venezuela, Brazil and Argentina among the top countries where the most foreign investors originate from. Over the past decade or so, growing instability in many of these foreign economies has also been another motivating factor behind the foreign investment boom. The U.S. is considered one of the most secure investments and Miami is as close to Latin America as you can get while still being in the U.S.

Miami is, of course, a thriving port city, with more than 40% of all national exports with a destination of Latin America originating from it. Miami International Airport is also at the top spot when it comes to international cargo.

Excellent Climate in which to Run a Business

With a diverse population comes a diverse industry landscape. There are thousands of multinational companies in Miami, offering a plethora of opportunities to Latin American and Caribbean investors. On a state level, Florida offers an excellent climate to do business in. The state levies no corporate income tax on limited partnerships, subchapter S-Corporations, NO individual income tax, no corporate franchise tax on capital stock, and no property tax on goods in transit for up to 180 days. The corporate tax for C corporations are just 5.5% of the net income, a competitive percentage compared to other states. The state also offers sales and use tax exemptions on manufacturing and machinery expenditures as well as many other things related to a number of industries.

Foreign Buyers have a Good Reputation with U.S. Banks

Florida mortgage lenders have more experience with handling applications from overseas buyers than those in other states. Just 2 years ago, 80% of the property sales in Florida were handled in cash; however, the willingness of the banks to provide financing has brought this down to just 50%, whereas the other 50% of the sales are being financed. The banks in the state are eager to provide financing for international buyers due to their reputation. The familiarity that banks have with international buyers has led them to consider a foreign buyer as a reliable buyer who is financially educated and has plenty of capital at their disposal. Thanks to this good reputation, securing a foreign national loan with banks is not as difficult as it seems and sometimes, is even simpler than it would be for a U.S. resident or citizen.

Read more

Why Miami’s Real Estate Industry is only Getting Stronger After Irma

miami-real-estate-after-irma

When Irma was on it’s way to making landfall in South Florida, many media outlets and realtors alike expected the worst. At the time the category 5 storm was projected to hit Miami dead on and even reached winds of 190 mph at one point, so the city and all its industries were bracing for complete devastation. Eventually, Irma dropped in strength and veered away from Miami by the time it made landfall, so the impact wasn’t quite as severe as once projected. Miami’s downtown area and Brickell were broadcast nationwide, showing shocking images of the streets mostly underwater due to storm surge. But just hours after the storm hit, a large portion of the storm surge had receded. Power was out for thousands, but many of the well-built condos and and structures either never lost power or only lost it momentarily.  The expectations were total loss on every front for all industries, especially the real estate industry.

A little over a month after the hurricane, industry players are starting to see that what didn’t completely destroy the city’s real estate actually served to make it stronger. Miami’s bouncing back quickly and there are several reasons why the storm didn’t scare away buyers the way it was expected to.

Strong Infrastructures mean Strong Investments

If Irma did anything positive (which wasn’t much, but there’s always a bright side)  it was to show how well Miami’s building codes passed the test. Since Hurricane Andrew wreaked havoc and decimated Miami in 1992, Miami-Dade’s building codes have since become some of the strictest in the nation. While there was some building damage throughout the city, structural engineers and other authorities that did initial damage surveys credited the tough building codes designed to take on serious hurricanes helped spare the city from much worse. Much of the aftermath was downed power lines, felled trees and power outages. Strong infrastructures that stood the test of a serious storm means the value of a South Florida home is high and worth the investment.

Swift Action from the Governor means Efficient Leadership

Governor Rick Scott, who’s been in office since 2011, has seen his fair share of storms and hurricanes – and his experience showed with the way he handled the hurricane protocols for the state of Florida. He took extra measures, ordering a statewide evacuation well ahead of landfall, giving residents plenty of time to prepare their homes, pack up and hit the road. He activated thousands of Florida National Guard Members to aid in preparations and planning as the storm approached; he issued several warnings and addressed the state with a press conference urging everyone to evacuate as soon as possible. As the mass exodus began, he suspended tolls across the state’s highways and roads to ensure everyone got out in a safe and timely manner. Florida’s leadership and excellent handling of the storm was another plus for any foreigners considering buying a home or commercial property in Miami and searching for a foreign national mortgage.

How Quickly Miami Got Back to Business

While news stations televised the storm surge flowing through the streets in downtown and Brickell. What wasn’t necessarily shown was how quickly that water receded, just hours after the storm passed. Power was out for thousands following the storm, as expected, but power was back to the vast majority of the city within weeks compared to the months it took to get the power back after hurricanes Andrew and Wilma.

As far as the real estate industry, September 2017 sales did slow, as was expected with all the business closures including all those involved in closing property sales. However, during this time, the median price for a single-family home went up 7.6 percent from the previous year’s prices and have been going up steadily for 70 consecutive months, according to the Miami Association of Realtors. There were several outstanding sales right after Irma including a $9 million dollar sale on a property in the Venetian islands, two more for $7.55 million and $7.5 million in Coconut Grove and lastly, another in Coral Gables for $5 million. Many luxury property realtors have gone on record saying they haven’t seen much reluctance from buyers to invest in coastal properties despite Irma’s landfall. Sellers have adjusted asking prices in the wake of the storm to help stimulate sales and it seems these adjustments have helped.

The consensus seems to be that even after Irma, international buyers eyeing Miami as a place to invest in properties have not been deterred and are still searching for foreign national loans to finance their purchases. Storms are a fact of life in Miami, but as a city that only continues to develop and grow, it has served to make it that much stronger and efficient. The New Miami and it’s value is only going to continue to grow.

Read more

New Mobile App Changes How Foreign Nationals Apply For Mortgage Financing

Miami based mortgage lenders, The Q Kapital Group, launch mobile app to expedite mortgage applications for international buyers

Miami, FL (May 24, 2017) – Miami based commercial and residential mortgage lender, The Q Kapital Group Corp., has launched a mobile app to better serve their international clientele. The mortgage lending company specializes in mortgages for foreign national buyers interested in purchasing commercial or residential properties in Miami, Florida and New York; the app facilitates the mortgage process for both domestic and international buyers of real estate in the USA.

The Q Kapital’s app, searchable as “Q Kapital” and categorized under finance, makes applying for a mortgage easier for potential buyers on the go. Featuring a user-friendly interface and intuitive functionality, the Q Kapital mobile app allows users to initiate the mortgage application process, get an initial quote, and submit required documentation.

“Our objective is to make the mortgage process as simple and smooth as possible for our applicants.” said President and founder Mauricio Ordoñez. “We created this app to make mortgage acquisition for foreign national buyers easier, wherever they are in the world. The app has an intuitive interface making it simple to use, and it’s also secure. This expedites the entire process tremendously.”

Foreign national buyers from Latin America, Europe, Canada, the Caribbean, and even Asia and Africa are often under the impression that they can only acquire US properties with cash. However, there is an abundance of mortgage credit available to them through direct lenders such as Q Kapital. The launch of the mobile app gives potential foreign buyers a chance at finding financing for commercial and residential properties in Miami, all of Florida, and New York, with a special focus on luxury residences and commercial property, or income-producing assets like multi-family homes and hotels.

Co-founder Gaston Schneider added, “We believe that the mortgage process should be simple, safe, and easy. Nowadays with everyone accessible via mobile, people can use our app to apply wherever they are in the world. By using our new app, anyone can submit a loan application in seconds. It’s a fantastic tool that we are proud to say is also free.”

Download the app:

Apple: http://apple.co/2mth4hb

Google Play: http://bit.ly/2nt6it0

About The Q Kapital Group

Based in Miami and celebrating their 10 year anniversary, Q Kapital is a direct mortgage lender with a focus on foreign national mortgages. Q Kapital provides loans to clients buying commercial or residential properties in Florida and New York. With co-founders Mauricio Ordonez and Gaston Schneider at the helm, immigrants from Colombia and Argentina, respectively, the company intimately understands the needs of foreign nationals and respects the challenges of buying property in the US. Q Kapital’s team explains the requirements of the US banks, and facilitates the mortgage process for international buyers.  Q Kapital also helps US Citizens and/or residents with buying or investing in residential or commercial properties in Florida and New York.

Read more

Mortgage Lender The Q Kapital Acquires DontMissMortgage.com

Mortgage Lender The Q Kapital Acquires DontMissMortgage.com

Miami, Florida mortgage lender acquires online mortgage network 

Miami, FL (March 7, 2017) – Miami-based commercial and residential mortgage lender specializing in financing for foreign nationals, The Q Kapital Group Corp., just acquired the online mortgage content network, DontMissMortgage.com. The website features a variety of digital content that serve as an educational resource for those in the mortgage and real estate industry.

The content network serves as a helpful resource for international buyers interested in commercial and residential properties in the United States. The Q Kapital specializes in lending to foreign nationals, who are often uninformed of the funds available to them. As they seek to better serve their international clientele, this new addition provides a valuable resource for potential property buyers.

The website features a wealth of information that aids in the process of purchasing mortgages for residential or commercial properties in Miami, Fort Lauderdale, Boca Raton, and the rest of South Florida. DontMissMortage.com is an information hub for potential property buyers that offers essential tools and facts about the type of mortgages available, common mistakes to avoid, a directory of the paperwork needed when purchasing properties, and a section for potential buyers to check their current credit scores.

“As more foreigners and international investors look to buy property in Miami and Florida, our goal is to simplify the mortgage process for them. With this acquisition, we now have a wealth of information to empower them as they make financing decisions towards their new residence, vacation home, or business property. Wherever they are, from Canada to Europe to Latin America, there are mortgages available to foreigners buying in Miami and all of Florida,” said Mauricio Ordoñez, CEO and founder of the Q Kapital Group.

About The Q Kapital Group

Based in Miami, The Q Kapital Group is a direct mortgage lender with a focus on mortgage for foreign nationals financing. The Q Kapital provides financing opportunities and mortgage for international buyers looking into Florida commercial and residential mortgages . The experienced professionals at the company understand the needs of international clients and respect different cultural situations. The professional staff will explain the requirements of the US banks, further facilitating the process for the international buyers, The company is also an expert in loans to US nationals looking to purchase residential or commercial properties, as well as first time home buyers.

 

Read more

The QKapital Group Closes $6.2 Million Loan on Porsche Design Tower Condo Sold to Foreign Buyer

The QKapital Group Closes $6.2 Million Loan on Porsche Design Tower Condo Sold to Foreign Buyer

Financial services and mortgage lender group finances purchase of another unit in the Porsche Design Tower

Miami, FL (December 22, 2016) – Miami based commercial and residential mortgage lender, The Q Kapital Group Corp., just financed an international buyer earlier this week for $6.2 million on a $10 million condo in the Porsche Design Tower. With less than 10 units left as of December 15, this new purchase brings the Porsche Tower one step closer to completely selling out.

The condo, unit #4001, is a 9,500 ft. duplex, secured by an international buyer and financed for over 60% of its selling price through The QKapital Group. As a preferred lender for the Porsche Design Tower, The QKapital was able to provide the multi-million dollar loan within a week’s time, allowing the buyer to quickly purchase the unit before the highly anticipated project sold out.

In addition to this recent deal, The QKapital Group has already financed over $20 million in luxury residential loans for international buyers and future residents of the Gil Dezer’s Porsche Design Tower. The oceanfront skyscraper in Sunny Isles has consistently made headlines recently, highlighting the rapid sales to foreign buyers from all over the globe.

“We are excited to have closed this deal and to be part of this prestigious new project in Miami,” said Vice President co-founder, Gaston Schneider. “Dezer did an amazing job on this tower; thanks to our relationship and preferred lender status with the Porsche Design Tower, we have been able to fast track our clients’ financing processes so that they, too, can be a part of this monumental new residential space before it sells out.”

About The Q Kapital Group

Based in Miami, The Q Kapital Group is a direct mortgage lender with a focus on mortgage for foreign nationals financing. The Q Kapital provides financing opportunities and mortgage for international buyers looking into Florida commercial and residential mortgages . The experienced professionals at the company understand the needs of international clients and respect different cultural situations. The professional staff will explain the requirements of the US banks, further facilitating the process for the international buyers, The company is also an expert in loans to US nationals looking to purchase residential or commercial properties, as well as first time home buyers.

Read more

Let us help you invest in your future projects. The Q Kapital Group in Miami can show you how.

The Q Kapital Group is the No. 1 lender for foreign national buyers. We can help you with residential and commercial property around the globe.

The Q Kapital Group is the Best Mortgage Company for US Citizens, US Residents, and Foreign National Buyers of Residential & Commercial Real Estate.

The Q Kapital Group is ready to help Realtors and your International real estate buyers and investors close on Miami condos. We can finance or refinance foreign nationals buying Miami real estate up to 65% of the purchase price at this property or any other home, condominium, or commercial property.

Read more

Commercial properties are our specialty.The Q Kapital Group is here to help you with financing.

Get help from us for all your commercial property needs. The Q Kapital Group is here for you.

The Q Kapital Group is the Best Mortgage Company for US Citizens, US Residents, and Foreign National Buyers of Residential & Commercial Real Estate.

The Q Kapital Group is ready to help Realtors and your International real estate buyers and investors close on Miami condos. We can finance or refinance foreign nationals buying Miami real estate up to 65% of the purchase price at this property or any other home, condominium, or commercial property.

Read more

Find the Energy & Spirit of Miami with The Q Kapital Group.

The Q Kapital Group is ready to help with financing for the SLS Hotel & Residences in Brickell. We are here to help you finance.

The Q Kapital Group is the Best Mortgage Company for US Citizens, US Residents, and Foreign National Buyers of Residential & Commercial Real Estate.

The Q Kapital Group is ready to help Realtors and your International real estate buyers and investors close on Miami condos. We can finance or refinance foreign nationals buying Miami real estate up to 65% of the purchase price at this property or any other home, condominium, or commercial property.

Read more

The Q Kapital Group is ready to finance your commercial investment in Miami.

Commercial investments are booming and The Q Kapital Group is here to finance you.

The Q Kapital Group is the Best Mortgage Company for US Citizens, US Residents, and Foreign National Buyers of Residential & Commercial Real Estate.

The Q Kapital Group is ready to help Realtors and your International real estate buyers and investors close on Miami condos. We can finance or refinance foreign nationals buying Miami real estate up to 65% of the purchase price at this property or any other home, condominium, or commercial property.

Read more