Miami ranks among top metro areas for RE investment: CBRE

For the first time, Miami is among the top 10 most attractive metro areas for investment, according to a ranking released Wednesday.

Half of participants said they expect to invest in real estate in 2015, according to the CBRE North America 2015 Investor Intentions Survey.

“Miami’s robust demand drivers include population and employment growth well above the national average, tremendous international trade, a booming housing market and a globally acclaimed tourism industry,” Christian R. Lee, vice chairman of CBRE Capital Markets, Institutional Properties, said in a statement.

“This is pushing rents up on every asset type. Add to that dynamic, the limited supply of land for future development, and you can see why Miami has become one of the most competitive, sought-after real estate markets in the United States,” Lee added.

Investors are primarily interested in industrial, office and multifamily properties, with industrial leading the charge, according to the report.

San Francisco, New York and Los Angeles topped the ranking. — Katherine Kallergis