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“Newly signed contracts for single families declined month over month for the first time in 2022. In addition, condo new signed contracts fell for the second time. However, the jump in mortgage rates took some of the edge off of still elevated demand, enabling seasonal expansion of new single family listings.”
(data source: millersamuel.com)
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Developers are increasingly planning to build towers in Miami that will reach supertall status (above 300 meters, or around 969 feet), with the real estate market here among the hottest anywhere. And several supertall towers have been announced in recent months, all by top-tier developers.
Here below is the link to the complete article with the list of every supertall currently being planned in Miami. http://ow.ly/WRtc50IMqbr
(source: thenextmiami.com, ...
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Another big Wynwood apartment project has topped off.
Wynwood 29 actually includes two buildings, one at 12 stories (178 feet) and another at 8 stories, on opposite sides of the street
The combined project will include:
248 apartments
26,651 square feet of retail
372 parking spaces
Related Group and Metro 1 are the developers, Arquitectonica is the architect and Beauchamp Construction is the contractor.
(source: thenextmiami.com, rendering: Beauchamp Construction)
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The downtown Miami office market continued to expand over the past year, despite the pandemic, increasing the number of people living close to work and boosting residential rents in the area.
Downtown added 17 new companies that opened offices between fall 2020 and June 2021, and they are expected to bring 1,835 jobs to the city in the next three years. In exchange, the firms are eligible to receive up to $150,000 each from the city over three years depending on the number of people they employ here.
The average rent for all ...
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According to the latest Redfin investor real estate report in July, home purchases by investors in Miami and Fort Lauderdale jumped a whopping 90% in the second quarter of 2021, compared with the same period the year before.
Investors bought 2,640 homes in Miami in the second quarter of 2021, up by about 91% compared with 2020. They purchased 2,163 homes in Fort Lauderdale in the second quarter, up by 183% from the same period a year ago, and they gobbled up 1,243 homes in West Palm Beach, a 53% increase ...
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According to Bloomberg, Elon Musk’s The Boring Company emerged victorious in a bid to build an underground transportation system in Fort Lauderdale.
The system will be known as Las Olas Loop, and consist of two tunnels running 2.5 miles from downtown Fort Lauderdale to the beach.
Passengers of the transit system would be driven in dedicated Tesla cars (private cars won’t be allowed). Construction is estimated to take one year once the city gives the final green light.
Miami, which is said to be seeking a similar system, is now finishing pre-development and preparing an agreement ...
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