Thursday, June 22, 2017

With apartment units rising in numbers, what does this mean for rent prices?

"We're starting to see rental prices wane, or at least pause." - Mike Pappas

Apartments are constantly being built, and with the approaching over building of apartments it may tip the rent prices in favor of renters. 

Market watchers estimate that this year will see the finished construction of 15,200 new apartments across South Florida, including 5,700 units in Miami-Dade County, 5,000 in Broward County and 4,500 in Palm Beach County. 

The pos-recession rise in monthly rents may stop or even decline as the number of apartments in South Florida increases.

See the full article here: The Real Deal: South Florida Real Estate News.

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