Miami’s Skyrocketing Rent

by Isaac Benmergui, Esq on May 21, 2012

With lofty apartments comes lofty prices. In Miami high-in-sky apartments, residents are starting to pay sky-high rents. In the past year alone, Miami claimed the third highest spot for most expensive rents in a metropolitan area.

Trulia.com reports that rents in Miami rose 12.3 percent in the last year; compared with the national average of just 5 percent. Only San Francisco and the New Brunswick, New Jersey area had higher percentage increases.

In the area hardest hit by the recession and real estate bust, a healthy rental market signifies an economic upturn. Home prices also rose 16.1 percent in the last year lending credibility to reports that the real estate market in South Florida is recovering faster than anticipated.

Getting Legal Help

The law offices of Isaac Benmergui can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

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