When Will the Miami Condominium Market Recover? Follow the Land, Man

Spring 2009, Vol. 34, No. 1

Abstract: What does the Miami condominium market look like today? Since 2003, developers have begun construction on 22,000 condos in downtown Miami—more than double the number built during the past four decades. The result is that residential vacancies have doubled in the past year; “for sale” condominium inventory has doubled. Prices have slipped downward dramatically. This article focuses on how long the recovery will take and who will benefit.