In 2016, there were 2,202 condos delivered in greater downtown Miami and based on what’s under construction for 2017, that number should rise to 3,456 delivered units — according to the Miami Downtown Development Authority. But looking ahead to 2018 and 2019, new product deliveries should fall to 2,846 and 1,960 respectively. That’s because not many projects are expected to break ground this year since many of the new condo and apartment projects currently proposed may have to wait till later development cycles due to capital constraints. This comes at a time when existing condo sales have declined in Miami-Dade County for 13 consecutive months.
According to the report, the largest neighborhoods for new condos are Brickell, downtown and Edgewater.Share