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 »