March 07, 2017

The number of new downtown Miami condos will surge this year — and then fall

Downtown Miami’s real estate market is slowing fast, just as developers are preparing to deliver the most new condos in a single year since the last bubble — a dynamic that will mean good deals for cash-rich investors and for young professionals, who might finally be able to rent units at decent rates.

Nearly 3,500 downtown condos will be delivered this year — a surge since the Great Recession. But the numbers are expected to drop to about 2,800 in 2018 and less than 2,000 in 2019 as developers push back plans to start new projects. That’s according to an annual report by Miami’s semi-autonomous, tax-funded Downtown Development Authority.

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