The future is in question for at least a dozen new condo projects that were originally proposed to be developed east of Interstate 95 in the tricounty South Florida region since this current real.
South Florida condo market faces headwinds amid the new construction boom FHA move buoys first-time buyers, but experts say more help needed in South Florida Brickell condo scene feels like dj vu The New york times affluent Buyers Reviving Market for Miami Homes Analysts Question a Threat by fannie home prices May Be Nearing a New Dip
With more than 25 new condo developments underway in the urban core alone (more than 80 in South Florida!), questions have surfaced about whether this is another bubble. The answer is simple: this cycle could not be more different than the last building boom.
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Understanding South Florida’s wonky condo market. by James McClister July 22, 2016. Sales and demand are plummeting, inventory is skyrocketing, price performance varies wildly by neighborhood, and the experts operating at the center of it all can’t agree on whether the market is in a bubble or good shape – this is the Miami condo market.
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Demand will start to push prices up with so few new projects in the pre-construction pipeline. Some of the softest neighborhoods include the city’s beaches, such as South Beach, Miami Beach and Sunny Isles, where developers have canceled three major condo projects. About one-fifth of all condo units in the beach areas that have hit the market since 2011 are still unsold, according to ISG.
Is the South Florida Condo Boom a Bubble? Foreign buyers, mainly from Latin America, are gobbling up high-end condominiums around Miami. But that money could easily flee.
South Florida real estate developer Martin Margulies has been sitting on prime ocean-front property for five years, waiting for the condo market to rise from the grave. When the market here crashed in 2007, amid overzealous speculators and an abundance of cheap and easy credit, condo construction ground to a halt.
Members of the PCD are actively researching public records, monitoring news reports, collecting market intelligence, and accessing information from condo developers. The compilation of this information is the foundation of the South Florida Preconstruction Condo Projects Database.
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