Soaring Price Of Miami Properties

Miami PropertiesThe median sales price of Miami-Dade County has rose to 26.9 percent in February 2013, a jump of nearly 11.6 percent in comparison to February 2012. The month of February also marked an 8.5 percent rise from that of January.

Keeping cash transaction as a parameter for tracking down international buyers, it has been estimated that of all the condominium transactions that occurred in February around 78.1 percent of them were paid by cash. It is a general fact that around 90 percent of the transactions made by international buyers in Florida are paid by cash. Hence a 78.1 percent figure is enough to show the vehement presence of international buyers.

“Demand for housing in Miami from both foreign and domestic buyers continues to deplete local inventory and to drive significant price appreciation,” said Natascha Tello, chairman of the board of MAR. She further adds, “Miami remains a top market for net migration from other states in addition to being the top market in the nation for foreign buyers.

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