Miami property sales soar by over 20pc

Miami property sales soared by over 20 per cent in the third quarter of 2013, according to the Miami Association of Realtors.

The “unprecedented” growth saw demand continue to exceed supply, with sales rising 21.2 per cent year-on-year – far ahead of the national rate of home sales, which grew 5.9 per cent over the same period.

“The surge in sales of Miami homes and condos is driven by a robust demand for real estate from international buyers from worldwide markets – and large numbers of U. S. buyers from other states,” comments 2013 Chairman of the Board of the MIAMI Association of REALTORS Natascha Tello.