Monica Venegas, principal of Venegas International Group (VIG), a leading Miami international boutique real estate brokerage firm, has been active with the Chinese market and traveling there for almost a decade. She started approaching China with her investment banking philosophy, offering her expertise and knowledge with international markets always bringing solid developers with excellent track records and quality branded developments. Beginning about 10 years ago, Venegas showcased in Shanghai the Four Seasons Residences Miami, a year later in Beijing the Trump Hollywood Tower, and more recently Fendi Chateau Residences and Ritz Carlton Residences Miami Beach plus Brickell City Center from Swire, a well-recognized Hong Kong-based conglomerate.
Over the past decade, Venegas has taken the time to patiently understand the Chinese consumer and culture. This experience has led her to unique approaches to educating, interfacing, and attracting the Chinese to the Miami market for real estate investment opportunities. “I have believed in the Chinese market from an early stage, and now my perseverance and patience is paying off,” Venegas remarks. “My consistency appearing year after year with a major presence at trade shows as well as private presentations and meetings, has helped to build a trust with both the Chinese market and the Chinese people,” Venegas adds. “They have become comfortable with me and know I am here dealing with their market for the long run.” The Venegas (VIG) name has gained recognition within the Chinese investor community over time.
Venegas has come up with her own formula for success in engaging the Chinese investors. This includes several key elements, such as showcasing Miami properties at luxury property shows as well as art and culture events, creating partnerships with luxury brands that have a presence in China, interfacing with ultra-high net worth (UHNW) gatekeepers, and hosting private VIP receptions with both individual investors as well as developers.
For Miami, it requires educating the Chinese on the city, its location geographically in America and the unique attributes it has to offer. Miami was not really on the radar screen for most Chinese until recently thanks to the efforts of Venegas and her ongoing real estate missions to China. With China’s volatile stock market as well as declining property values, it has become a necessity for the Chinese to diversify and do overseas investments. “Now I see all income levels looking to protect their financial assets overseas and real estate is a top choice for them,” Venegas states.
“For the Chinese, top priority is a good return on their investment when purchasing real estate overseas. Miami is a value purchase in terms of price per square foot compared to other major global cities, especially in the luxury sector,” she says. Plus, Miami properties are appreciating at a much faster rate with it currently being one of the fastest growing cities in the world. Other important factors for the Chinese include education, clean air and a welcoming global community. Miami wins in all of these, being one of the most diverse multi-cultural places on the planet with no air pollution and top education institutions at the university level as well as highly-ranked private grammar schools, middle schools, and high schools.
Venegas has also addressed the commercial market for the Chinese overseas investors: “Many of my Chinese investors are looking for land to develop and sell units to Chinese, especially now that direct flights from China to Miami are on the horizon.”
In her efforts to introduce Miami to Chinese investors, Venegas created a presentation titled, “Why Miami, Why Now”. Together with a team of Mandarin-speaking sales executives, VIG has added experts in the legal and educational field who are both bilingual and bicultural and who accompany the company’s missions to China. The China team of realtors include bilingual members and seasoned international professionals who travel several times per year to China.
Venegas has taken an out-of-the-box approach with the Chinese market by securing non-traditional strategic alliances with Chinese partners. These partnerships are paying off big time. She’s in the process of finalizing some very significant deals with Chinese developers and investors for Miami. Venegas is also co-brokering deals for her Chinese clients in New York City.
Stay tuned for more major Venegas Chinese announcements in 2016 as developer clients are ready to move forward on American soil.