10,000 New Condominium Units Planned for Miami

by Isaac Benmergui, Esq on September 24, 2012

Miami’s continued real estate rebound has excited developers so much that they proposed 55 new condo projects for the tri-county South Florida region. And that’s just the figure for today.

As the real estate market continues its upward climb in South Florida, the Greater Downtown Miami, Fort Lauderdale and West Palm Beach areas are readying for the building influx of foreign and domestic buyers looking for a second home or who desire a warmer climate with access to culture, shopping and beaches.

Miami-Dade County has the lead in the latest boom with 40 projects totaling 7,900 new units to be constructed in Aventura, Bal Harbour, downtown Miami, Key Biscayne, Miami Beach, and Sunny Isles Beach.

Broward County has the second largest number planned with at least 11 condo projects comprising nearly 1,600 units slated for Fort Lauderdale beach, Hallandale Beach and Hollywood.

The key now is financing. Proposed is not built and developers might find it tough to get the financing they need to break ground. Many are already asking future tenants to purchase their units pre-construction and using that money to begin construction.

Getting Legal Help

The law offices of Isaac Benmergui can help you with your legal real estate needs; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

 

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