FYI Miami: December 10, 2015
Written by Miami Today on December 8, 2015
Below are some of the FYIs in this week’s edition. The entire content of this week’s FYIs and Insider sections is available by subscription only. To subscribe click here.
MIAMI IS CHINA-CURIOUS: The Greater Miami Chamber of Commerce’s Americas Linkage Committee is on the verge of its trade mission to China, which departs with about 20 Miami delegates Jan. 16 to Hong Kong, Shenzhen, Guangzhou and Shanghai. Committee Chairman Hernando Gomez urged delegates to “do your homework” during a morning meeting Dec. 3 at his firm, Morrison, Brown, Argiz & Farra. Come prepared to sell a service, product and Miami, he told participants. Offer more than just weather. Liane Ventura, chamber senior VP of industry growth and international business, warned that Miami is not yet China-savvy. The city and business community is “China-curious,” she said, but Chinese services, infrastructure and a better understanding of the Chinese business culture are still needed in Miami.
REALTORS REPORT TO CHINA: The Miami Association of Realtors will promote South Florida real estate in Shanghai this weekend to more than 5,000 real estate buyers and investors. The association will represent Miami at the LPS Shanghai 2015, an international luxury real estate expo Dec. 11-13. Chinese buyers represented 2% of all international closed sales in Miami-Dade and Broward counties last year, compared to 1% the two years prior. Furthermore, about 42% of Chinese consumers purchasing property in Florida brought in Miami or Miami Beach, the association reported. This year, the average purchase by Chinese buyers was $1.065 million, considerably higher than other international homebuyers. Nationally, Chinese buyers have surpassed Canadians as the most dominant foreign home purchasers.
COUNTY LEASE TERMINATION: The county’s Strategic Planning & Government Operations Committee voted Tuesday to allow the county to include a provision in certain leases of its property that the site could be taken back in emergencies. The resolution by Rebeca Sosa states that unforeseen events during a lease of county-owned property may requires termination or suspension for a public purpose. She said her motivation is to avoid spending additional money for a situation such as a department needing to expand when the county’s leased property could serve the purpose. If passed by the full commission, the county would include a clause if applicable when leasing its property explaining that the lease could be terminated or suspended in an emergency. Daniella Levine Cava asked that Internal Services Department provide information on how such legislation might impact county rentals.