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Miami Condo Construction Heats Up

Published Friday, August 01, 2003

There's an old joke about the man who moves to Miami. When his friends him ask why, he replies, “Because it is so close to the United States.” More than 50% of the population in Miami-Dade County is Hispanic — a segment that includes immigrants and children of immigrants. But there is another group, much of which is also Hispanic, which influences the investment climate in the county: non-resident aliens. They don't live in Miami-Dade, but they invest their money there, especially in real estate. Approximately half of the county's commercial properties selling for less than $1 million ...

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