Saturday, May 13, 2017

South Florida Multifamily Market Continues on Record-Setting Pace

Calum Weaver
Cushman & Wakefield Released its 1Q 2017 South Florida Multifamily Market Update, Documenting $3.6 Billion in 2016 Sales and a Strong Start to 2017

MIAMI, FL — Cushman & Wakefield announced it has released its 1Q 2017 South Florida Multifamily Market Update.

The in-depth report, authored by Executive Vice President Calum Weaver of Cushman & Wakefield’s South Florida Institutional Multifamily Team, details the state of the multifamily market in the three counties comprising South Florida — Miami-Dade, Broward and Palm Beach.

The report finds an eighth consecutive year of multifamily expansion in South Florida driven by strong fundamentals. Important highlights of the report can be found below:

There were 278 property sales in South Florida valued at more than $3.6 billion in 2016. This eclipses the annual record of $3.3 billion in sales established in 2015.

South Florida rental demand continues to increase due to population growth, an inventory shortage and the rising costs of single-family homes.

The supply of multifamily housing in South Florida continues to lag demand, with most new development coming in the Class A+ market. The supply of affordable and Class B and C product remains constrained.

For a complete copy of the company’s news release, please contact:

David A. Meyer 
Meyer Media 

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