Midtown rents hit Brickell levels (Miami Today).
"Midtown’s residential rental rates continue on an upward swing, and with only two rental projects currently under construction, rates are projected to continue rising." Continue reading.
New China policy could make buying SoFla real estate easier (The Real Deal).
"The country’s monetary policymakers announced on Friday they may soon allow residents of a Shanghai free-trade zone to buy overseas assets directly – a trial run for the rest of China and part of a broader effort to loosen capital controls. The move would also open up Yuan-denominated bonds to foreign companies." Continue reading.
Canadian interest in Miami high despite strength of US dollar (The Real Deal).
"On Wednesday, a group of 38 top real estate professionals from Toronto began a three-day tour that will take them to the construction sites of some of the more prominent projects in Edgewater, downtown Miami, Brickell, Doral and Sunny Isles Beach." Continue reading.
Miami Breaks Tourism Records, Plans for More Growth (Travel Pulse).
"Miami is having a record-breaking year. Its travel and tourism numbers have grown with a 5.4 percent increase in overnight visitors to the greater Miami area." Continue reading.
Brickell’s brand booms out west too (Miami Today).
"As billion-dollar Brickell City Centre prepares to celebrate completion of phase one before year’s end, other new residential projects are under way in the rapidly evolving neighborhood that has now grown beyond its financial district roots." Continue reading.
Miami Home Sales Uptick in September (World Property Journal).
"According to the Miami Association of Realtors, Miami-Dade County single-family home transactions rose 2.9 percent year-over-year in September 2015, from 1,166 to 1,200. Existing condominiums -- which are competing with a significant rise in supply of new construction properties east of Interstate-95 -- had 8.3 percent fewer sales in September, decreasing from 1,425 to 1,307." Continue reading.