Miami has witnessed an incredible rebound the past year and the inventory in Miami Dade county is so tight that developers are clamoring to build as many new projects as possible. There are 133 proposed condominium towers planned across South Florida and developers are showing no signs of slowing in acquiring land. The prior boom saw 22,000 condominiums that were empty and new, and of that surplus, today only 600 remain. Median prices for condomiums are up to $438 per square foot, an incredible increase over last year, and the rental prices are similarly keeping pace. Unlike 2003, the new financing favors the cash buyer and those with income to put a substantial amount down in pre-contruction. Here are 5 new towers that were announced, we will keep you updated on the progress, and for preconstruction pricing, contact us today.
