Just over 1,000 new condos remain from Miami’s condominium boom: report

TRD Miami

by Alexander Britell

 

Less than 1,050 new-construction condominium units are unsold from Miami’s condo construction boom, according to a report from brokerage and consultancy Condo Vultures. That comes after a reported slowing of sales to 65 units per month from July to September, compared to 100 units per month in the third quarter of 2011. “Foreign buyers, inspired wealth preservation, strong exchange rates, discounted prices and strengthening rental rates have played a vital role in stabilizing the greater downtown Miami condo market,” said Peter Zalewski, founder of Condo Vultures. “The situation in the greater downtown Miami condo market would have likely taken much longer to stabilize if not for the international development beginning in 2009.”


Back to Blog

Latest Posts

Join us

Edit Search

  • Email Updates
  • Only Update me On
Close
Email Sent! Your email was sent successfully
Close
Register
  • Thank You For Registering

    Just a few more details so we can help you

    (All fields are required)

    When are you looking to purchase?
  • Thank You For Registering

    Just a few more details so we can help you

    (All fields are required)

    Need assistance with financing?
  • Thank You For Registering

    Just a few more details so we can help you

    (All fields are required)

    Need to also sell your property?