MIAMI—Downtown Miami continues to buck national real estate trends, thanks in part to sustained investment from international buyers in rebounding domestic market. And a new study from the Miami Downtown Development Authority (DDA) proves it.

The DDA report shows that residential condo sales and rental activity in Miami’s urban core is accelerating while prices are rising at an average rate of 10% per year since 2009. The findings not only highlight Miami’s strength as a global destination for residential homebuyers and inbound investors, but also reflect the diminishing supply of condo units from the last wave of condo construction.

“Miami has become a magnet for investment—a trend that is likely to continue as businesses from all parts of the globe seek to capitalize on all the opportunities this city has to offer,” Marc Sarnoff, City of Miami Commissioner and Miami DDA chairman, tells GlobeSt.com. “The result is a thriving urban core and an unprecedented level investment in everything from our real estate and hospitality markets to our arts and culture and transportation infrastructure.”