MIAMI—Just how hot is Downtown Miami's condo market? New statsare rolling in that make investors smile and developers moveperhaps even more quickly.

For starters, Downtown Miami's condo market has posted twostraight years of price appreciation. At the same time, land valuesare escalating and developer yields are compressing. Overall, landtransaction volume is increasing. All this is according to a newstudy the Miami Downtown Development Authority(DDA) commissioned.

“The demand drivers of an urban lifestyle continue to providemotivation for suburban or Miami Beach residents to reconsider theDowntown Miami area,” says Anthony M. Graziano,senior managing director for Integra RealtyResources in Miami. “As the large-scale projects continueto progress, along with the development of a more transit-orientedmetro area, Downtown Miami will benefit from increased downtownhousing options.”