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The Real Deal Miami

South Florida rents rise

October 21, 2011 08:33AM

With continued investment fueled largely by foreign buyers, demand for
South Florida apartments is growing, meaning increasing residential
rents, according to the Miami Herald. “I talk to a couple of investors
all over South America and they tell me they buy these condos and it
takes them about a week to rent them,” said Craig Studnicky, principal
of Related ISG. “Each and every month, the rents are going up.”
According to data from the Texas-based MPF Research, rent prices have
gone up by between 3 and 7 percent this year. And with a steady stream
of foreclosures on the way, the rental trend is likely here to stay. [Miami