From the April issue: While sales of South Florida condominiums have begun to soften, the brisk pace of rental apartment construction appears unlikely to wind down any-
The speed of such construction continues to accelerate in South Florida, especially in suburban locations in Broward County, as the pool of renters deepens amid population growth, new employment opportunities and reduced demand for home ownership.
The national real estate brokerage Marcus & Millichap forecasts that 10,200 new apartments will come to market in the tri-county region this year, compared to 8,700 in 2015, marking a 17 percent increase. The firm expects 5,500 new apartments to open this year in Miami-Dade County alone, plus another 4,700 units in Broward County and Palm Beach County combined. [more]