Miami Real Estate Miami Homes Miami Condos Miami Beach
4 Jul 2012

Miami Is The Second Highest Ranking City For High-Rise Construction In The US

People that have recently been able to roam around the streets of downtown Miami
may have come to notice that there are more skyscrapers within the area as the region
really has seen many more high-rise constructions in the past decade.

In fact, a recent study conducted and released in the recent Architectural Record
shows that Miami is now holds the second highest ranking city as far as the most
high-rise constructions in the last ten years are concerned.

There have been at least 145 development projects involving infrastructures of 20-
stories of more that began between 2000 and 2011. New York — which holds the
number one position — has a higher number of boast with its 331 skyscrapers that
have set rise in the last decade.

Nevertheless, figures serve as proof of the remarkable Miami real estate boom and
bust cycle.

Anyone who is hoping to find Miami among the list of the tallest skyscrapers within
the United States will find that the city is not among the top five ever since 2000. New
York still holds the first position while Chicago holds the second.

However, upon completion of the One Bayfront Plaza, people may find things to be
quite different, especially since the infrastructure is expected to rise above to 1,010
feet with 80 floors in total. It is going to take some time though as the anticipated
point of completion will not until 2018.

While there all the new high-rise constructions to bring new faith to the Miami real
estate market, many of these development projects have been slowed down by the
effects of the South Florida real estate market crash in 2007. However, it is indeed
safe to say that things are going to pick up the pace in the near future, especially in
terms of the condo market where much growth has been seen.

According to recent reports from the Miami Herald, at least 45 condo towers have
already been planned out in a little over one year — five of which are known to be
under construction.

Among the most influential forces that have been seen backing up such high-rise
condo developments are a wide pool of wealthy foreign property buyers that have
come in from Latin American countries such as Argentina, Brazil, and Mexico.

Generally speaking, the Miami real estate market has much to show people in the
upcoming months. It would be best to simply sit back and be patient in knowing that
good things come to those who wait. In a region that had suffered tremendously from
one of the worst market crashes of our generation, it is definitely good to know that
developers are once again interesting in being able to invest within the fabulous city
of Miami.

Selda Kirkan
phone: +1.954.3056424