Strong demand and rapidly diminishing inventory is significantly boosting rental rates in Brickell’s condos, brokers say. “Rents have gone up by 12%-15%,” said Edgardo Defortuna, president of Fortune International Realty. "In our luxury buildings, we used to rent for $1.85-$1.90 a foot. Now it’s $2.20-$2.35 a foot.” In some properties such as Icon Brickell, he said, there’s a waiting list for rentals. At the same time, units that were initially rented by their owners are being marketed for sale when leases expire.
via Fueled by strong demand, Miami condo rents rise in double digits.