Miami New Construction condo projects are rising in every Miami Community. Often referred to as Pre-Construction condos, these projects are selling out so quickly that they go into construction within several months.
Questions have been raised like... "Isn't this going to turn into another "boom and bust" cycle like the mid 2000's? Anything's possible, but the significant difference this time is the deposits required from buyers. Often in the last go-round the deposits totaled ten (10%) percent or less. With this kind of leverage, speculators came out of the woodwork. But today, a deposit stream totaling fifty (50%) percent locks out the speculators, so buildings have actual buyers, not speculators, reserving apartments.
With each new building announcement, the chorus rises once again and asks... "How long can this keep going on?" like Marvin Gaye, back in the 70's. Well, the best way to know is to contact your friendly MiamiCondoLifestyle.com Realtor and get the latest Miami New Construction Market Trend Report.