Downtown Miami Condo Values Increase 10.9 Percent

According to a published report, by the Miami-Dade and Broward County property appraisers’ property values increased in 20 South Florida cities in 2010. Downtown Miami marked the largest year-over-year increase in the region, with the tax base growing 10.9 percent in 2010, after shrinking 11.2 percent in 2009. Most of the increase came from new construction in the area, as new condo buildings wrapped up construction and finally came online. New construction downtown was valued at $1.4 billion, up from $362 million in 2009.

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