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Part of the skyline of the City of Miami, Florida in the U.S. on Sept. 15, 2016.
Fucci said lower prices compared to long-standing investment havens like New York, San Francisco and Seattle help keep Miami in the mix for real estate investments from China.
Upcoming development projects are further attracting Chinese demand. Swire Properties is developing Brickell City Centre, which will include complex of luxury condos, office buildings, hotel and a shopping center.
Such increased foreign demand has been blamed for pushing property prices higher in the past, and has forced local governments to introduce cooling measures. But Fucci believes Miami’s property market is still in the growing stage.
“I think that Miami has a lot of growing up to do and there’s still a lot of room for growth in Miami,” she said. “The real estate market is a long-term play not just a short-term.”