The Real Deal New York

SoFla players anxious over possible market peak

More than 15 condo towers have been canceled or revised due to a changing market

November 16, 2015 01:00PM
By Peter Zalewski

060 Zalewski-se FINAL.indd

From the South Florida Market Report: Anxiety about the South Florida condo market is on the rise as members of the real estate community prepare for the winter buying season.

Developers, brokers and buyers are increasingly voicing concern that the next six months could be a pivotal time for the current condo construction boom that started in 2011 in the area east of Interstate 95 in Miami-Dade, Broward and Palm Beach counties. After all, the rule of thumb is that the typical real estate cycle lasts seven to 10 years, and thus some developers may be reluctant to embark on a three-year condo project if buyers are starting to shy away from purchasing. [more]