A recent report by the National Association of Realtors indicates that Venezuelans were among the main buyers in 2012, in the region of Fort Lauderdale. The average price of homes that were bought between $ 200,000 and $ 299.999.
Amid the uncertainty created by the presence and absence of the now deceased President Hugo Chavez, it is estimated that tens of thousands of Venezuelans living in South Florida are buying property, operating businesses and investing in real estate.
Friday, April 4, 2014
Wednesday, April 2, 2014
Miami live a new real estate "boom" driven by luxury homes
Miami is entering a new real estate "boom" fueled by investments chiefly Latin , which has transformed the appearance of the city and having the luxury homes in one of their big hooks .
According to the latest report from Christie's about the luxury real estate market , Miami and surroundings were cast in 2012 between the major markets of its kind in the world , thanks to the widespread recovery in demand and low prices .
" Foreign buyers have been buying luxury properties in Miami as a result of the uncertainty of their currencies , which have often been devalued against the dollar ," he explained this week Ron Shuffield of Esslinger Wooten Maxwell Realtors.
However, Christie's estimated that 55 % of the purchases were completed between October 2011 and September 2012, both months included , were made by residents of Miami and worked investments in primary residences , many in relatively central areas city .
"I've never been a fan of that people move more and more away from the city . Think you should be reunited in the center so you can do everything on foot, as in Chicago , New York or London ," says Jorge Perez, one of the architects of the current design of Miami, where more and more tend to be vertical concentration .
In an interview with Efe, Pérez , president of The Related Group, acknowledged that his company has a great responsibility in this design that begins to characterize Miami , thanks to large apartment buildings where the " penthouses " tend to be fancy , designed to large fortunes who want privacy and good views, but in central areas .
"We 're making . Has created a rather large density in the last ten years on the street before two or three taxis were seen , and are now many and urban transport service is developing and improving," he says.
It is estimated that Miami had late last year over two thousand homes with higher prices million, half that of New York, although the population of its metropolitan area is not even represent a quarter of the New York .
According to Christie's , 70 % of homes purchased last year by more than five million in Miami were paid in cash, a percentage that , although it seems high, it is less than 90% of New York or 100% of Los Angeles .
"Ten years ago , you went to Flagler ( the central street of Miami) at six in the afternoon, shooting with a machine gun and did not give anyone. Miami was a ghost town ," recalls Perez.
"That has changed, defends the promoter . Has not occurred as quickly in any other city in the world change. Ten years have created a 'city' ."
"We have always prided ourselves on being able to see where new areas were . Downtown When we started in the first luxury condominiums people said ' you're crazy , will not live here no ' , but now the city has expanded and now comes to ( what is called ) Midtown and Design District "she recalls.
The company started in Miami Beach and then moved to continental Miami , where " take many risks : start building a lot and have now followed northwards , but are always areas that can be reached by bike ."
"We always have that fear comes another economic depression like that of 2007 , when the market is down because we built too ," says Perez. "We lost a lot of money in that cycle , but it was good for Miami because now the buildings are full ."
In that sense argues that "if it were not for all those buildings we build the downtown Miami would not have grown as it has ."
The " boom" of luxury has meant that prices of homes in Miami and South Florida are already at 2003 levels , after rising by around 11 % last year, and after thirteen consecutive months of annual gains. Even the recorded average rent increases of 15 % yoy.
According to the Case-Shiller index , in South Florida sales prices rose 10 % in 2012 , a senior forward for the first time , which was recorded in 2006 before the bursting of the housing bubble, although prices are still 45% below its record high in May 2006.
According to the latest report from Christie's about the luxury real estate market , Miami and surroundings were cast in 2012 between the major markets of its kind in the world , thanks to the widespread recovery in demand and low prices .
" Foreign buyers have been buying luxury properties in Miami as a result of the uncertainty of their currencies , which have often been devalued against the dollar ," he explained this week Ron Shuffield of Esslinger Wooten Maxwell Realtors.
However, Christie's estimated that 55 % of the purchases were completed between October 2011 and September 2012, both months included , were made by residents of Miami and worked investments in primary residences , many in relatively central areas city .
"I've never been a fan of that people move more and more away from the city . Think you should be reunited in the center so you can do everything on foot, as in Chicago , New York or London ," says Jorge Perez, one of the architects of the current design of Miami, where more and more tend to be vertical concentration .
In an interview with Efe, Pérez , president of The Related Group, acknowledged that his company has a great responsibility in this design that begins to characterize Miami , thanks to large apartment buildings where the " penthouses " tend to be fancy , designed to large fortunes who want privacy and good views, but in central areas .
"We 're making . Has created a rather large density in the last ten years on the street before two or three taxis were seen , and are now many and urban transport service is developing and improving," he says.
It is estimated that Miami had late last year over two thousand homes with higher prices million, half that of New York, although the population of its metropolitan area is not even represent a quarter of the New York .
According to Christie's , 70 % of homes purchased last year by more than five million in Miami were paid in cash, a percentage that , although it seems high, it is less than 90% of New York or 100% of Los Angeles .
"Ten years ago , you went to Flagler ( the central street of Miami) at six in the afternoon, shooting with a machine gun and did not give anyone. Miami was a ghost town ," recalls Perez.
"That has changed, defends the promoter . Has not occurred as quickly in any other city in the world change. Ten years have created a 'city' ."
"We have always prided ourselves on being able to see where new areas were . Downtown When we started in the first luxury condominiums people said ' you're crazy , will not live here no ' , but now the city has expanded and now comes to ( what is called ) Midtown and Design District "she recalls.
The company started in Miami Beach and then moved to continental Miami , where " take many risks : start building a lot and have now followed northwards , but are always areas that can be reached by bike ."
"We always have that fear comes another economic depression like that of 2007 , when the market is down because we built too ," says Perez. "We lost a lot of money in that cycle , but it was good for Miami because now the buildings are full ."
In that sense argues that "if it were not for all those buildings we build the downtown Miami would not have grown as it has ."
The " boom" of luxury has meant that prices of homes in Miami and South Florida are already at 2003 levels , after rising by around 11 % last year, and after thirteen consecutive months of annual gains. Even the recorded average rent increases of 15 % yoy.
According to the Case-Shiller index , in South Florida sales prices rose 10 % in 2012 , a senior forward for the first time , which was recorded in 2006 before the bursting of the housing bubble, although prices are still 45% below its record high in May 2006.
Tuesday, April 1, 2014
The U.S. housing market is at the beginning of a sustained recovery in the long term
Christophe Butz, co -manager of Pictet Timbre , graduated from the Swiss Federal Institute of Technology in Zurich with a master's degree in Forest Engineering . He joined Pictet Asset Management in 2002 as an expert in sustainability. Previously he was the deputy head of sustainability research at Bank Sarasin & Cie . Butz is also the co-founder and partner of an engineering consultancy specializing in climate protection projects . It is a certified International Analyst ( CIIA ) Investment and has an ICSC / AZEK diploma.
The Pictet Timber fund seeks capital growth by investing at least two thirds of its total assets in a diversified portfolio of stocks of companies engaged in financing , planting and management of forests and forest areas and / or treatment , production and distribution of timber and other services and products from wood .
At what point in the economic cycle is believed to USA today?
In terms of U.S. housing market is at the beginning of a sustained long-term recovery . In fact we have seen that housing starts has already exceeded one million units in annual terms for the first time in several years . So while we are still at the beginning , this is encouraging and is likely to see several years of growth , returning to the historical norm of 1.5 million housing starts per year , which means business opportunities and benefits business in companies that are part of our background.
How are the prices of wood formed?
Prices of wood make a "complex animal" . For the most part the price is local, it is very expensive to ship and move the wood. So the price depends on the availability and distance from the forest , the proximity of the wood fiber factories and customers.
But there are also some world trade , which takes place on the Pacific coast of northeastern USA and that affects prices because China is importing more and more of that region. To this recovery housing sector in the U.S. , which also promotes rising timber prices is added.
What types of companies included?
We include a variety of portfolio companies . The most prominent , with greater weight in the portfolio, have orientation and long-term objectives coincide with those of the background , in terms of perfect alignment with respect to access to the base of the timber resource . These are large owners of timberland in the U.S., as Weyerhouser , Plum Creek , second and first in the country . Other companies structured as forest owners , including Potlatch or Rayoneir . We also include companies processing wood products for building structures and panels, as Louisiana Pacific , Camphor or Canadian West Fraser, the largest producer of wooden boards in the world. To this more defensive actions , consumer-oriented , as the Swedish SCA , a leading hygiene products or Clear Water is also added . So the background is quite diversified across companies , with exposure to different segments.
"Housing in the U.S., China and diapers have one thing in common ... "
Yes, it is to be noted that Pictet Timber is not an exotic niche but a globally diversified product actions . Geographically close to 60 % of the exposure is in North America , 25% to emerging markets and the rest of Europe and Asia developed . Using wood as a renewable resource and material, it is possible to participate in different market cycles and market factors. It is the case of most currently influential factor , the recovery of the housing market in the U.S.. To this the consumer segment in products made from wood pulp , which is used for hygiene products is added . The cyclic part is probably the segment of packaging for transportation that is produced , which is associated with the economic recovery. To this packaging for consumer products of daily use, more defensive segment is added. So the whole economy is accessible using wood as a material and resource.
Which countries have more weight?
The largest market in terms of production and consumption remain USA, North America together . Hence the fund is predominantly exposed to actions in the region, where listed companies that own forests in those markets. But , of course , China is increasingly important , a change from ten years ago , when the country was virtually nonexistent . In fact then no wood slats out the Pacific coast of North America to China. Now up to 30 % of the wood harvested by some of the owners of forests in the region goes to China. This increased demand is pushing up prices of wood in North America.
What is the fund's performance ?
We are very happy with the results since launch in 2008 and last year with an increase of 30 % compared to 15 % of the global MSCI World. The result is still good this year , although there has been some correction due to fluctuations and volatility of the price of timber in the U.S..
We believe that the potential of the background still stands, given the recovery of the housing market in the U.S., China and push supply constraints Canada. The country traditionally exported wooden planks and U.S. housing , but on this occasion it will not be possible due to an epidemic that has affected their forests. Demand from China , which did not exist ten years ago , the recovery of the housing market in the U.S. and limited offer : So the ingredients for a super- cycle is given.
The Pictet Timber fund seeks capital growth by investing at least two thirds of its total assets in a diversified portfolio of stocks of companies engaged in financing , planting and management of forests and forest areas and / or treatment , production and distribution of timber and other services and products from wood .
At what point in the economic cycle is believed to USA today?
In terms of U.S. housing market is at the beginning of a sustained long-term recovery . In fact we have seen that housing starts has already exceeded one million units in annual terms for the first time in several years . So while we are still at the beginning , this is encouraging and is likely to see several years of growth , returning to the historical norm of 1.5 million housing starts per year , which means business opportunities and benefits business in companies that are part of our background.
How are the prices of wood formed?
Prices of wood make a "complex animal" . For the most part the price is local, it is very expensive to ship and move the wood. So the price depends on the availability and distance from the forest , the proximity of the wood fiber factories and customers.
But there are also some world trade , which takes place on the Pacific coast of northeastern USA and that affects prices because China is importing more and more of that region. To this recovery housing sector in the U.S. , which also promotes rising timber prices is added.
What types of companies included?
We include a variety of portfolio companies . The most prominent , with greater weight in the portfolio, have orientation and long-term objectives coincide with those of the background , in terms of perfect alignment with respect to access to the base of the timber resource . These are large owners of timberland in the U.S., as Weyerhouser , Plum Creek , second and first in the country . Other companies structured as forest owners , including Potlatch or Rayoneir . We also include companies processing wood products for building structures and panels, as Louisiana Pacific , Camphor or Canadian West Fraser, the largest producer of wooden boards in the world. To this more defensive actions , consumer-oriented , as the Swedish SCA , a leading hygiene products or Clear Water is also added . So the background is quite diversified across companies , with exposure to different segments.
"Housing in the U.S., China and diapers have one thing in common ... "
Yes, it is to be noted that Pictet Timber is not an exotic niche but a globally diversified product actions . Geographically close to 60 % of the exposure is in North America , 25% to emerging markets and the rest of Europe and Asia developed . Using wood as a renewable resource and material, it is possible to participate in different market cycles and market factors. It is the case of most currently influential factor , the recovery of the housing market in the U.S.. To this the consumer segment in products made from wood pulp , which is used for hygiene products is added . The cyclic part is probably the segment of packaging for transportation that is produced , which is associated with the economic recovery. To this packaging for consumer products of daily use, more defensive segment is added. So the whole economy is accessible using wood as a material and resource.
Which countries have more weight?
The largest market in terms of production and consumption remain USA, North America together . Hence the fund is predominantly exposed to actions in the region, where listed companies that own forests in those markets. But , of course , China is increasingly important , a change from ten years ago , when the country was virtually nonexistent . In fact then no wood slats out the Pacific coast of North America to China. Now up to 30 % of the wood harvested by some of the owners of forests in the region goes to China. This increased demand is pushing up prices of wood in North America.
What is the fund's performance ?
We are very happy with the results since launch in 2008 and last year with an increase of 30 % compared to 15 % of the global MSCI World. The result is still good this year , although there has been some correction due to fluctuations and volatility of the price of timber in the U.S..
We believe that the potential of the background still stands, given the recovery of the housing market in the U.S., China and push supply constraints Canada. The country traditionally exported wooden planks and U.S. housing , but on this occasion it will not be possible due to an epidemic that has affected their forests. Demand from China , which did not exist ten years ago , the recovery of the housing market in the U.S. and limited offer : So the ingredients for a super- cycle is given.
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