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Demand increasing for Downtown Miami Condos

A new study from the Miami Downtown Development Authority reports that contrary to national real estate trends, Miami continues to see growth thanks in part to international buyers rebounding the domestic market. The DDA report shows residential condo sales and rental activity accelerating while prices rise at an average rate of 10% per year since 2009. It proves Miami’s strength as a global destination for inbound investors, while highlighting the limited supply of condo units built from the last wave of condo construction.

“Miami has become a magnet for investment. A trend that’s likely to continue as businesses from all parts of the globe seek to capitalize on all the opportunities this city has to offer,” said Marc Sarnoff, City of Miami Commissioner and Miami DDA Chairman. “All eyes are on Miami as it emerges as a global city and international destination, says Sarnoff. “As a result of this heightened interest, we are seeing investments in everything from our real estate and hospitality markets to our arts and culture and transportation infrastructure.”

To read the full article: http://www.globest.com/news/12_360/miami/multifamily/Downtown-Miami-Condo-Sales-Grow-Prices-Rise-321918.html

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