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New Florida condos bank on wealthy US buyers now

Future owners will be expected to pay big downpayments to finance construction

South Florida condo builders are turning to US clients as development moves north from Miami, a city attractive to Latin American buyers whose purchasing power has weakened now.

Los Angeles

JORGE Perez crashed along with the real estate market, then regained his crown as Florida's "Condo King" by building new projects with 50 per cent deposits from foreign buyers. Now, for his next development, he's looking to wealthy Americans.

In December, he'll begin...

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