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Builders Opt For Rentals

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coconut grove rental apartmentsIn the Miami Downtown Development Authority’s Q1 2016 residential real estate report, the agency detailed the city’s current building schedule, pointing out a slate of more than 12,500 new rental units – 2,000 of which are expected to hit the market in 2016.

In conversations with the Miami Herald, a number of local developers discussed a growing trend around the city for builders to turn their cheeks to the condo market – which, building wise, is still booming – to what is likely to be a more sustainable rental market for “young professionals seeking an urban lifestyle.”

 

Source:  Miami Agent Magazine

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