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Chinese market growing quickly in South Florida

Wealthy Chinese buyers have been buying so many homes in the United States that they are the top foreign country purchasing property in the U.S – for the fourth year in a row. Those home sales totaled more than $27 billion.

But in South Florida, the response hasn’t been so strong. Vanessa Grout, president of CMC Real Estate, told the Washington Post the share of the Chinese market in South Florida is ready to grow.

CMC is marketing its Brickell Flatiron project, a 549-unit 64-story tower in Brickell, to Chinese buyers.

“Chinese buyers typically buy in groups and buy more than one unit at a time,” Grout told the newspaper. She attended the Beijing Luxury Properties Showcase last year, and said, “we’ve learned quite a bit about the market for Chinese buyers coming to Miami, and we think it will only grow.”

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