Miami Apartment Price Back Up to 2007 Levels

by Isaac Benmergui, Esq on November 9, 2012

Miami’s apartment pricing and sales market has bounced back to 2007 levels, or in many cases, gone beyond the previous levels.

Garden apartments seem to be the most favored when it comes to buying properties, with mid- and high-rise property sales down, nationally.  Realtors attribute the difference to garden-type apartment properties outnumbering mid- and high-rise apartments.

In South Florida, prices per unit have increased because rents are higher and there are fewer vacancies. With homeowners still holding back at listing their properties, more people are forced to remain in rental situations. More demand for fewer units, has driven prices upward. With the price of homes low, but still unaffordable to many in the middle income range, this trend may continue for awhile.

Getting Legal Help

For all your commercial real estate needs, the law offices of Isaac Benmergui can help. We will ensure receive a clear title and represent your interests at closing; call 780-800-2510 or email Isaac@benmerguilaw.com for more information or to set up an appointment today.

 

 

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