One recent episode of America’s Commercial Real Estate Show focused on the findings of a bi-annual survey, the 2025 Q1 AFIRE Pulse Report, conducted by AFIRE (Association of International Real Estate Investors). The survey monitors the preferences and strategies employed by international institutional investors in the U.S. real estate market.
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For Miami real estate investors, the findings of this survey are particularly insightful. They indicate that despite macroeconomic uncertainties, Miami remains a top destination for foreign investment, likely due to its strategic location, vibrant economy, and robust property market.
In the conversation, Gunnar Branson, the CEO of AFIRE, discussed the results of the survey, which had been conducted in March. Branson revealed that despite the global economic turmoil, 44% of the respondents intended to increase their investments in the U.S. real estate market over the previous year, with only 8% planning to decrease their investments. Undoubtedly, this highlights the enduring allure of the U.S. property market to international investors, despite the challenges of the pandemic and the political climate.
Branson also revealed that the top five U.S. cities for foreign investment were Dallas, New York, Miami, Boston, and Atlanta. Interestingly, Miami featured prominently as the third most favored city for foreign investment, indicating a high level of international interest in the city’s real estate market. This preference is partly driven by Latin American investors who view Miami as a gateway to the U.S.
The host and Branson also touched on various factors affecting foreign investment interest. These include the current administration’s tariffs, potential trade wars, and the implications of the new legislation. Branson emphasized that while these factors influence the decision-making process, the fundamentals of the U.S. property market remain robust. Therefore, investors are adopting a ‘wait-and-see’ approach rather than pulling out of the market.
The AFIRE survey also revealed the sectors that are most attractive to foreign investors. These include multifamily housing, industrial properties, and data centers. Senior housing was also highlighted as a growing area of interest, given the increasing number of baby boomers entering their 80s.