Residential rental demand in Miami stays hot.
Overall, the Miami residential rental market remains very hot and housing is still in high demand, according to local real estate experts.
Inventory levels are continuing to remain low because Miami-Dade is a beneficiary of both domestic and foreign immigration, said Carlos Villanueva, district sales manager and broker for The Keyes Company.
“We have our own little kind of micro-economy here in South Florida,” he said, “as a result of the demand from being the Wall Street of the south, with Citadel moving here out of Chicago, Goldman Sachs and several other very important financial companies.”
Miami Mayor Francis Suarez’s initiative to make the city the FinTech capital of the world has also contributed to home rental high demands, Mr. Villanueva said.