Cash buyers continue to dominate the Miami international real estate market, snapping up 65% of home sales in and around the city, according to the latest numbers from the Miami Association of Realtors. Cash purchases took up 66% of sales in January, with the majority of buyers going for condominium sales in March (79%).
“Almost 90 percent of overseas buyers purchased properties in cash and 33 percent of national sales were made in cash suggesting a heightened presence of international buyers in Miami,” the association told OPP this week.
And, according to Mike Colpitts, editor of HousingPredictor, “Miami has good appreciation and most of that is due to international buyers coming to pick up the real discounted properties, condos and single family homes.”
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