Thanks to a favourable context, this city in Florida is attracting many foreign investors. The real-estate agency MC² Immobilier offers unique turnkey service for supporting them in all stages of their purchases.
Commerce International, April 2012
On Paris’ new property market, topend apartments sell at prices between 10,000 and 15,000 euros per square metre. The equivalent in Miami can be had from3,500 euros per squaremetre. This well-known city in Florida is extremely undervalued on the real-estate front, despite its excellent quality of life.
“This context is taken as a boon for many foreign investors,” explains Marie-Charlotte Piro, Vice-President of MC² Immobilier, a unique agency in Miami that offers turnkey service for purchasing real estate in the city and its surrounds. The offer is targeted at businesses as well as private individuals. Services naturally include property searches and purchase-price negotiations, but also all ensuingmanagement. “We take care of looking for tenants, collecting rent and also service charge payments,”declares the Vice-President. Clients of MC² Immobilier are often French, but the agency also deals with Swiss, Belgian, Moroccan and Canadian clients as it targets the whole of the French-speaking market. Many investors are Europeans wishing to take advantage of the euro’s very favourable exchange rate and the state of the US real-estate market, extremely low at this point in time. Properties are often purchased to be rented out, whether for corporate or residential purposes.
Settling in more easily People wishing to settle in Miami make up another category of clients at MC2 Immobilier. “It is quite frequent for us to sell two things together: a residence as well as an already-established business. We choose, in conjunction with the client, the precise geographical zone for their home and the school where their children will go. A business consultant can possibly support the client at the same time with setting up his or her business and all the associated setting up procedures. Numerous services supplement the realestate services themselves. These aspects are especially appreciated as many clients have little or no knowledge of the American market,”assures Marie-Charlotte Piro.
As well as a favourable exchange rate and many opportunities to seize on the current real-estate market in Miami and its surrounding areas, tax is another asset offered by this type of project. “Our team ismade upof Frenchspeaking tax specialists, lawyers and accountants, available to support clients optimally in their procedures,” she continues. “They contribute their savoir-faire in tax declarations and company follow-up for example.” Today, MC² Immobilier has two offices in Miami. A third office is to open shortly in one of the city’s residential zones.
An ideal time to invest For one year now, local real-estate prices have stabilised and are even beginning to rise in certain districts. The context is attractive, hence seducing a huge number of foreign investors, mainly South Americans, Europeans, Canadians and Russians. Countries in North Africa and Southeast Asia are also well represented. This situation is unique to the south of Florida and Miami, which are not necessarily representative of other areas in the country. Prices in other large US cities are far higher. “This is the right time for buying property in Miami,”notes MarieCharlotte Piro. “By the end of 2012, the most interesting opportunities will no longer be available. Buying a property in Miami in the coming years will nonetheless still be interesting.”
Miami benefits from a privileged geographical situation compared with other attractive spots. It offers direct access to destinations in the Caribbean. The East coast of the United States is only two hours away by plane. Global criteria make it a promising city, firmly turned towards the future. Some very large corporate businesses have recently made strategic investments here, including the Malaysian group Genting, currently constructing an immense shopping centre at the heart of Miami, beside the sea. The cost of the project is 3 billion euros. Other commercial and infrastructure projects are also underway in the city centre, worth a total investment of 8 billion euros and covering under 2 kmof the seafront, the famous “ten billion dollar mile” .
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