Panama Canal fuels Miami real-estate boom

The folks who buy a three storey, 8,000 square foot penthouse at the Argentine-funded Arias tower for $6 million might actually smile at the “good deal” Miami represents in the global high-end luxury market, being fuelled in part by the expansion of the Panama Canal.

Many USA ports from Houston, Sarasota and New York have expanded and made adjustments for the “Post PanaMax” ships now traversing an expanded Panama Canal, but the Port of Miami has taken the lead, with a $2 billion underwater cargo truck tunnel and expanded container port infrastructure.

Source: Newsroom Panama