- Posted July 16, 2014 by
Do Not Fear the Supposed Condo Bubble Yet
Some people are starting to worry that we could be facing another real estate bubble in the South Florida area, but many experts feel that these fears are premature. They feel that there is still plenty of room for growth in the counties of Palm Beach, Broward, and Miami-Dade. One of the reasons for the fear is that developers in the area are already proposing a large number of additional condominium units in the area – more than 33,000 of them in fact. Click Here To View All Pre-Construction Condos In Miami
Where Will the New Units Be?
Currently, the downtown area of Miami looks as though it will be getting approximately 17,400 units across 59 new towers. While this might seem like a substantial amount, it is important to remember that during the last boom, the area became home to 22,200 units with 84 towers. Sunny Isles, another very popular neighborhood in the area, is slated to have 14 new towers and an additional 1,800 units. During the last boom, developers created 6,200 units among 28 towers.
What Makes this Different?
Even though there might be a large number of proposed units in the pipeline, there is not the same rush as there was before. To find out why READ MORE at the Sunny Isles Miami Real Estate Blog.