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This week in Miami real estate: Miami home prices up in June and condo tower adopts new strategy to attract buyers

by James McClister

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Lots of interesting things happened this week in the world of real estate. Notable stories this week included Miami home prices going up and The Highlands seeking more EB-5 buyers.

Catch up on this week’s top news with our real estate news roundup:

Miami home prices are up – CoreLogic’s June home price report showed prices in the Magic City, including distressed sales, increased 6.2 percent year-over-year.

Sabbia Beach’s exclusive Terazza D residence sets record – On the heels of the record-breaking $5.5 million, or $934 per square foot sale of its Penthouse D — the highest per-square-foot sale in Pompano Beach history — Sabbia Beach is now celebrating another record sale: its Terrazza D residence recently sold for $896 per square foot. Now, only three Terrazza models remain for sale, and are priced from $1,440,000 to $3,000,000.

Jorge Escobar Joins TSG Group – TSG – a real estate investment, development and sales company in South Florida – announced this week that Jorge Escobar, most recent the global market head of Chile for HSBC Private Bank, has joined as an equal partner alongside founding partner and CEO Camilo Lopez.

The Highlands shifts approach to condo market – Amidst Miami’s sinking condo market, The Highlands tower in North Miami Beach is now looking to attract more international buyers, specifically those from Latin American and Chinese EB-5 investors, The Real Deal reported.

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