![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjDel-LZqUCiodaQEzY6UBR9C7mnu0cWciiywHAFLMAiTfQrClrYE6WaUnykS_slrRyaxkW8JTBZu9nG2o_Xd7vNhqGqOcL_Sxdt5Dw9wgym3HSiXcAWhIey4leHNqam2tyvBkqquQtYYY/s320/Miami+night+skyline.jpg)
(Top left photo shows Miami night skyline)
Unsold and unoccupied condos will be the greatest suppl
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“In the months ahead, buyers will continue to leverage the presence of excess condo stock to push cap rates higher, especially in the deals involving Class A assets,” says Kirk A. Felici, (photo at right)regional manager of the Miami office of Marcus & Millichap.
“Meanwhile, many older Class B/C properties held over several years may provide a quick upside for a new owner simply by raising rents to market rate.”
Following are some of the most significant aspects of the Miami Apartment Research Report:
· Employers will add 1,500 jobs this year, a 0.1 percent gain.
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· Developers will complete 500 rental units, compared with no new projected delivered in 2007.
· Vacancy is forecast to end the year at 4.8 percent.
· Asking rents are projected to increase 1.1 percent to $1,129 per month.
· Effective rents are expected to add 0.6 percent to $1,069 per month.
For a copy of the complete Miami Apartment Research Report, as
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjjcetfkGDfrpHNKTZYgDjyrfYnSLZ8SnF6xmkwwqLDTnQ5WIdTlq-l3EPzMPFrTh1XKVI5vBxbj3pI_wqzDbpjw3uWUJwOnVE_i7wqZUriI2RbWt9ebeix9gXBxqukhzTddAHPwkOjL80/s320/MarcusMillichap_logo.gif)
Press Contact: Stacey Corso, Communications Department, (925) 953-1716
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