It looks that South Florida real estate developers are viewing Donald Trump as president-elect as a "boon" to the area's real estate environment. It doesn't help to add to the fact that he is rooted in the real estate industry to begin with. Here is a further take on what real estate developers are saying, according to Ezra Katz, founder and CEO of Aztec Group:
Our future president is a very knowledgeable real estate and construction person, and he understands the world of real estate better than any politician, ever...He will create jobs that are positive for us and positive for the industry and create an enhanced opportunity for foreign investors to consider South Florida as a viable investment....All the campaign rhetoric on both sides is gone and now we will deal with reality...You have to run a country and be a leader in the world and that will be his focus, on the business side and on his statement that he is there to create jobs that are viable.
Developer Don Peebles, chairman and CEO of the Peebles Corporation said:
And as a real estate developer who has relied on foreign investment in his projects, I would expect him to make sure the regulatory environment will be conducive… and make it easier for foreign investment.
Developer Gil Dezer, president of Dezer Development noted to TRD that that most South American investors don't move their families or businesses to Miami when they buy properties here, meaning they wouldn't be affected by any changes in immigration policy.
Trump's election is also bound to raise consumer confidence, which in turn buoys all aspects of the economy, including real estate.
EWM International Realty CEO Ron Shuffield said that outside of actual policy changes, Trump's at times uncouth remarks have left bad tastes in the mouths of many foreign nationals watching the country's election from afar. But that likely won't stop the wealthy among them from continuing to invest in real estate stateside.
Above all other demographics, ultra-high-net-worth homebuyers are tapped into the financial world and base their investments on its ebbs and flows. Of the stock markets' steady rise as the news of Trump's victory broke early Wednesday morning are any indication, the financial world is reacting favorably to a Trump presidency will probably translate into more luxury buyers pulling the trigger on a home purchase...All of these economies are built on confidence...Really it's just a psychology game.
On top of that, Shuffield also said to TRD, that Trump began tempering his trademark vitriol and rhetoric in the months leading up to the election, which could be an indication that his behavior will change once he's actually in office.
*The Real Deal