The annual roar of Indy car engines through St. Petersburg's waterfront avenues illustrates the burgeoning international draw for luxury real estate investors and foreign buyers. Attracted to the area for its excitement and climate, many are persuaded to call St. Petersburg a home, adding to the tapestry of cultures, art, architecture, and designs in the global influences, says Moisés Agami, CEO of Valor Capital.
CLEARWATER, Fla., March 18, 2024 /PRNewswire-PRWeb/ -- As one of the world's top travel destinations, Florida is known for its climate, rich culture, miles of sandy beaches waters — and the Firestone Grand Prix of St. Petersburg. Often compared to the Formula 1 Grand Prix in Monaco, international Indy car racing teams, celebrities, and executives have contributed to the burgeoning global attraction of St. Petersburg. (1) For Moises Agami, CEO of Valor Capital Real Estate Development, international influences are both a draw for his company's projects as well as part of the fabric of their creations. "The infusion of different cultures, architecture, lifestyles, and arts have attracted affluent individuals from different parts of the globe to St. Petersburg—and that is the key reason we chose St. Petersburg for our Roche Bobois-branded Residences," notes Agami.
Investments in luxury real estate have shown that global tourism and immigration play a vital role in the international luxury market. (2) From an eclectic destination of seven different arts districts through the city to its collection of world-renowned museums capped by the Salvador Dali Museum, the global flavors, cultures and architecture attract investors from across the U.S. and the world. (3) St. Petersburg has seen its population grow 2.55 percent since 2020 (9) and now includes residents from diverse cultures in the world, including 13.1 percent of residents having German ancestry, 11 percent Irish, 10 percent Hispanic, 7.1 percent Italian, and 3 percent French. (10) The National Association of Realtors revealed that buyers from Brazil, Colombia and Canada are most likely to buy in Florida, contributing to the diversity in cultural influences and generating a draw for investors. (4)
"International partnerships between architects, developers, interior designers, furniture designers and artists generate the multitude of global cultural influences Valor Capital works with in each of our projects," notes Agami. An example is the Paris, France-based luxury furniture designer Roche Bobois. Their innovative designs will be woven into the commercial and common areas of the Roche Bobois Residences project. Valor Capital combines their local construction and development teams with materials from top designers in Europe and Latin America to provide luxury resort finishes. (5)
Additionally, the growing popularity of branded residences accounts for 10 percent of the global luxury real estate market. This is a long runway for growth according to Savills' 2023 Report. (6) Agami notes that "We cater to our clients, and they seek quality design, luxury lifestyle services, rental income opportunities, and good potential for return on investment."
Agami and Valor Capital are proud to be surrounded by growth — recent business and real estate expansion in the city is highlighted by: (11, 12)
"As a young boy in Mexico, I spent many summers in Clearwater and St. Pete," reflects Agami. "Today our company is based in this area and leverages our international expertise to introduce innovative developments infused with global culture into the U.S. market." They employ people from all over the world including the US — Europe, Asia, and Latin America — and are seeing an increase in foreign investors and clients.
Tampa Bay is one of the hottest growing real estate markets in the U.S. in 2024 (7) and the impact on the luxury lifestyle market is fast growth in St. Petersburg. "Luxury investors are paying cash, unaffected by changing interest rates or floating mortgages at higher rates (8), and taking a hit early to gain later," notes Agami. He sees this as an optimistic sign of confidence in the rich cultural global real estate market in St. Petersburg, which will mean a positive return on investments for the city, county, Tampa Bay region and the state of Florida. "Valor Capital is at the forefront, merging international expertise with local charm to redefine luxury living," concludes Agami.
About Valor Capital Real Estate Development
Valor Capital, renowned in the real estate industry, evolves from the rich legacy of Terra Capital Partners S.A. de CV, continuing a tradition of excellence across various sectors such as office buildings, hospitality, healthcare, commercial spaces, and premium residential areas. Their ethos of innovation, combined with a commitment to exceptional quality and sustainability, cements their status as industry leaders. With a portfolio that exhibits billions in investments and expansive development achievements, Valor Capital establishes new standards for what's possible in luxury real estate. Valor Capital doesn't merely participate in the market; it shapes it. For more information about their role in defining the future, visit http://www.valorc.com
About Moisés Agami, CEO Valor Capital
Entrepreneur Moisés Agami took his first company public at the age of 25. At the heart of his U.S. venture, Valor Capital, lies a commitment to groundbreaking technology and innovation. Supported by a world-class board of partners with a four-decade history of real estate developments, Agami stands out for his pioneering approach in engineering, prioritizing designs that enhance individual well-being and new standards of aesthetics in the industry. Agami's acumen for uncovering undervalued real estate opportunities has led to transformative high-end projects along Florida's Gulf Coast, driving growth in some of the state's most dynamic markets. Discover more about how Agami and Valor Capital are redefining luxury real estate at http://www.valorc.com
References:
- Staff Writer. "Rock Icon Jon Bon Jovi to be Special Guest at St. Petersburg", IndyCar.com, 28 February 2024, indycar.com/news/2024/02/02-28-bonjovi-stpete.
- Johnpaul, Nicholas "International Luxury: Shifts Affecting US Market", US Real Estate Insider, 21 January 2024, usrealestateinsider.com/international-luxury-market/.
- Staff Writer. "Arts and Economic Property Report", St. Pete.org, 2023, stpete.org/visitors/arts_culture.php.
- Dunn, Meredith. "Research Spotlight: 2022 International Transactions in U.S. Residential Real Estate", National Association of Realtors, 08 August 2022, nar.realtor/blogs/economists-outlook/research-spotlight-2022-international-transactions-in-u-s-residential-real-estate.
- Staff Writer. "Roche Bobois Residences", St. Pete Rising, 01 March 2024, stpeterising.com/roche-bobois-residences.
- Taylor, Peter Lane. "Branded Luxury Real Estate is Booming in Mexico and Latin America", Forbes, 15 January 2024, forbes.com/sites/petertaylor/2024/01/15/branded-residences-are-booming-in-mexico-and-latin-america/?sh=2f6d5fb7b9e6.
- Torres, Jennifer. "Two Florida Cities Among the Hottest Real Estate Markets for 2024", GulfLive.com, 12 January 2024, gulflive.com/news/2024/01/two-florida-cities-among-the-hottest-real-estate-markets-for-2024.html.
- Santarelli, Marco. "Tampa Housing Market Trends and Forecast for 2024", Norada Real Estate Investments, 25 February 2024, noradarealestate.com/blog/tampa-fl-real-estate-market/.
- Staff Writer. "St. Petersburg Florida Population 2024", Worldpopulation.com, 2024, worldpopulationreview.com/us-cities/st-petersburg-fl-population.
- Staff Writer. "St. Petersburg, FL Census Data", Censusreporter.org, 2024, censusreporter.org/profiles/16000US1263000-st-petersburg-fl/.
- Staff Writer. "Construction Begins on The Central, Formerly Orange Station, in St. Pete's EDGE District", St. Pete Rising, 28 February 2024, stpeterising.com/home/construction-begins-on-the-central-formerly-orange-station-in-st-petes-edge-district.
- Brezina, Veronica. "Swedish IT Company Opens St. Pete HQ", St. Pete Catalyst, 21 September 2023, https://stpetecatalyst.com/swedish-it-company-opens-st-pete-hq/
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