Advice To South Florida Condo Investors: Walk, Don’t Run
MIAMI, FL–It’s not just the huge number of condos in South Florida that has caused them to lose their luster as investments. It’s also the piling on of amenities that has helped to raise prices combined with a market that can’t afford to rent them.
“The carrying costs of these condominiums in the form of association dues and assessments are going to be significant. With stagnant wage growth it has yet to be proven out that there is a rental market to achieve profitability through the rentals of these condominiums,” Miami attorney Josh Migdal tells GlobeSt.com.