According to Miami Association of Realtors, the foreign investment in South Florida climbed up to $7.1 billion dollars in 2017. That is a significant increase of approximately 15% compared to 2016 where the number was only $6.2 billion dollars. Unsurprisingly, most of the foreign buyers are coming from South America. In fact, the political and economic crisis in the area are pushing the wealthy to park their money into a safer environment.
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Here are some quick news about Miami Real Estate
- Renting Prices has soared up
Miami is a growing city with many urban development. Renting price has been soaring up and according to the National Low Income Housing Coalition’s annual report, a minimum wage worker needs to work at least 94.5 hours per week to pay their monthly one bedroom rent.
The affordable housing inventory has been depleted and out of 100 units available, only 26 are rent-friendly for the low wages.
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If you are looking to buy a condo in the Brickell area where all the young crowd are, this list is for you. We are hereby excited to announce the Top 3 most expensive condos for sale based on MLX (February 2018 edition) !
Do you have millions of extra cash that you are willing to invest? Well, Miami is the best place to do so. We are going to go over the top and highlight the Top 3 most expensive condos in South Beach as of February 2018. Here are the condos that made our list: Read the rest of this entry »