Miami Condo Buyers Paying Cash

Published: 19th May 2010

Miami: 83% of condo buyers pay cash

Despite the US government encouraging lenders to finance condo purchases, evidence from Miami suggests that cash is still king.

According to a new report from Condo Vultures, only 83 percent of the more than 700 new condo sales in Greater Downtown Miami in Q-1 of 2010 were from cash buyers.

It seems the local market in South Florida has some way to go but overseas investors, paying cash, appear to be leading a mini boom.