Respected M2E client Rey Melendi is an expert panelist and the COO/principal of 13th Floor Investments. In a recent news article, he commented on the reason for the increase in condominium development here in South Florida.
According to the South Florida Business Journal, Melendi believes the increase is due to foreign investors. Because foreigners are putting down such large deposits, it poses less risk for the developers and more for the buyers. This “condo craze” affects our economy through rising local market employment as well as tax benefits for our local governments.
