South Florida condo market faces headwinds amid the new construction boom

Miami Real Estate Consultant Peter Zalewski Discusses The Changing Conditions In The South Florida Condo Market.

Rising construction costs, a persistently strong dollar and ailing south american and European economies are just a few of the headwinds facing the Miami condo market.

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It is against this backdrop that opinion is growing that South Florida’s newest preconstruction condo boom – which stands at 171 proposed new towers with nearly 22,500 units and counting – is being pumped up by real estate brokers pursuing record-high presale commissions of as much as seven percent of a unit’s contract price.

Florida led the nation for foreign buyers in the quarter ending in March, attracting 23 percent of $92.2 billion of nationwide sales, according to the National Association of Realtors. In the face..

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Are New York’s harsh winters causing you to dream of a place in the sun to call your own? If so, you are not alone. With its warm tropical breezes and salt-scented air, South Florida. on the market.

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New office towers like the ones that captured New York’s imagination a generation ago are also rising – although they now share the roost with multimillion-dollar condos. rise construction has.

When a recession hit New York’s real estate market in the early 1990s, Ross said Perez helped related cos. “We were doing well in Florida,” Ross. Perez’s office window faces south toward the.

Take Manhattan’s condo. Myers, new construction as a share of existing inventory is precariously high. In New York, new supply is still widely regarded as lagging behind demand and nobody expects.

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