The weak sales market is still a key driver of rental demand and rising rents.
The number of new leases fell for the 6th straight month as landlords continued to be more successful at the time of lease renewal, down 2.1% from the same period last year.
The Median rental price reached $3,595 up 5.0% from the previous year.
The net effective median rent rose 4.6% to $3,472 from the same period last year. Not only …
by Riccardo Ravasini 
Overall, monthly rents predicted to rise by 2% to $1,677
South Florida will see nearly 16,000 apartments delivered this year, leading rents to flatten in markets with added supply, according to a recently released report.
Fueled in part by population growth, the number of apartment deliveries will be nearly double the 8,871 units that were completed in South Florida last year, according to Berkadia’s annual report and 2020 forecast. That marks the highest number of annual deliveries so far this …
by Riccardo Ravasini
Next year is likely to be good for construction in Miami with a new flock of construction cranes now arriving to build the city’s next generation of skyscrapers.
Okan Tower
Aston Martin Residences
830 Brickell
Missoni Baia
Una Residences
Natiivo
Society Biscayne
Legacy Miami Worldcenter
Luma Miami Worldcenter
Downtown 5th
Virgin Hotel Brickell
Block 45
2000 Biscayne
Yotelpad
Modera Biscayne Bay
Grand Station
CitizenM Brickell
AC Hotel
Smart Brickell
Others on the radar that could be rising in …
by Riccardo Ravasini 
It’s already been a year since Gov. Andrew Cuomo abruptly called off the dreaded 15-month L train shutdown, replacing it with a “slowdown,” to repair the Canarsie Tunnel.
Back in December 2018, median asking rents in the neighborhood fell to $2,899/month, according to StreetEasy. Then, in early January 2019, when Gov. Cuomo announced that the complete shutdown of the L train would be called off, renters began to return to the neighborhood, and landlords went back to raising their prices.
by Riccardo Ravasini 
Strong economic and population growth led the financial site SmartAsset to name Miami as one of America’s top boom-towns.
Miami ranked fourth nationwide in the analysis, and was the top big city.
Analysts looked at government data from 500 cities for the ranking.
Here is how Miami scored in key metrics:
5 year population change increase of 9.43%
5 year average yearly GDP growth of 3.39%
5 year change in number of establishments 8.79%
5 year housing growth rate …
by Riccardo Ravasini Sales are still slowing down but at a lower rate. And this could imply that the trend might be turning around in the near future. We as brokers have experienced a busy month of December and we are starting to get more optimistic for 2020.
So here is the data:
The number of sales year over year declined by 1.2% in the 4th quarter of 2019 to 2,404 compared to the same quarter the year prior.
However, the number …
by Riccardo Ravasini