Monthly Archives: March 2015

Downtown towers

Miami Beach is the absolute worldwide destination for nightlife and beach but it seems that renters are not as attracted as they used to. Would Downtown Miami become the next hot spot for leasing?

Over one year, renters have leased approximately 150 fewer units per month in Miami Beach despite the fact that it was 7% less expensive than in Downtown Miami. That may be due to the new high-rise condos with top amenities that recently got built, thus winning out the competition against Miami Beach condos that lack the new required features from tenants. Read the rest of this entry »

Condo boom back in 2007

Miami’s condo market in Downtown is cooling down as construction costs explode, land prices skyrocket and foreign currencies fall. However, this time, nobody is truly expecting a crash.

There is a little slowdown though than is noticeable through the resale prices for condos that are growing at a slower pace. They went up this year by 16% as compared to a 22% increase the year before. Developers are afraid it would act as an obstacle to hit their profit targets on time, thus slowing down the pace of preconstructions. Read the rest of this entry »