Fort Lauderdale's Condo Supply Surged 66% During Boom

MIAMI, FL--Nearly 5,100 new condominium units were added in Fort Lauderdale's Downtown and Beach neighborhoods during the last real estate boom, increasing the existing inventory by 66 percent in less than a decade, according to a new report from CondoVultures.com.

Since 2003, developers constructed and converted 47 projects of 15 units or more in a stretch of central Fort Lauderdale from Sunrise Boulevard south to State Road 84/Southeast 24th Street, Northwest 7th/Southwest 4th Avenue east to the Atlantic Ocean, according to research compiled for the soon-to-be-released Condo Vultures® Official Condo Buyers Guide To Fort Lauderdale™.

The surge in new condo construction increased Fort Lauderdale's total condo inventory in the Downtown and Beach neighborhoods to nearly 12,800 units located within 180 projects that feature a combined 1,500 floors of residential living, according to the study.

"Fort Lauderdale experienced tremendous growth in the number of new condos constructed in the city's Downtown and Beach neighborhoods during the last real estate run up," said Peter Zalewski, a principal with the Bal Harbour, Fla.-based real estate consultancy Condo Vultures® LLC.

 "If not for the controlled-growth approach, relatively speaking, by the city leaders at the time, the condominium markets in Fort Lauderdale's eastern corridor would likely be in the same state as the markets to the south in Greater Miami."

Contact:  Peter Zalewski, Condo Vultures®,  800-750-0517,  peter@condovultures.com.