The big step backwards

From the April issueDecision time could be rapidly approaching for those developers who are taking part in the current South Florida preconstruction condominium boom that began in 2011.

In the thick of slowing presales and shifting sentiment about the strength of South Florida’s condo market, developers may face the precarious decision of whether to soldier on with their proposed projects or pivot toward revising their plans and schedules by spring 2017.

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April marks the end of the latest South Florida winter buying season, which has become increasingly important for the condo markets in Miami-Dade, Broward and Palm Beach counties while the U.S. dollar remains strong.

With the arrival of springtime, buyers and investors north of the Equator historically shift their attention away from subtropical South Florida as the humidity levels and temperatures there become more unbearable for those who reside in cooler climates. [more]