Florida's key position attracts investors

Florida's strategic position as a gateway to Latin America is one of the factors attracting mainland Chinese and Hong Kong investors to buy real estate in the southeastern US state.

"Investors from around the world, including China, consider Miami's relationship with Latin America as a significant catalyst for growth. This, combined with the fact that property prices are 40 per cent below their peak, is the main reason why investors are buying property in Florida," said Charlie Rosier, a director of Blackfish, a consultancy which helps Asian clients invest in US property.

Rosier said Florida was a gateway to Latin America in the same way as Hong Kong was for mainland China. "As such, it is the third-largest wealth management centre in the world after New York and London."

Chinese investment in Miami, Florida's biggest city, accounted for 3.7 per cent of the city's property sales, he said.

This was the same as Brazil in 2010, which more than doubled its property investment in Florida in 2011, he said.

"We expect similar increase from Chinese investment in 2014 and 2015," Rosier said.