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July 26, 2013
Condominium developers in South Florida have been extremely busy lately. Starting in October of last year, developers have proposed an average of approximately 1,000 new units per month.
Since the last quarter of 2012, nearly 90 new buildings have been announced, with a total of 9,500 units in coastal Miami-Dade, Broward and Palm Beach Counties. That number is expected to rise, and South Florida can expect 145 new towers with a total 20,700 units to rise in the near future. Miami is seeing the bulk of that new construction.
Even though thoughts of the recent housing crash still linger, the current market trends bode well for the South Florida real estate market. Cash buyers and limited financing options help ensure the stability of the current housing market.
For more information on new construction in Miami and South Florida, contact Niki Higgins at +1-888-242-4422.
Source: The Miami Herald
Pictured: Porsche Design Tower Miami
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