Saturday, December 9, 2017

South Florida Multifamily Market Achieves Record Pricing


Calum Weaver
MIAMI, FL — Cushman & Wakefield announced it has released its 2017 South Florida Multifamily Recap.

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

“South Florida multifamily sales continue at feverish levels,” said Weaver. “As new supply gets completed and stabilized, developers are selling the newly completed inventory at record pricing levels.

“An increasing population, demographic shifts and higher single-family home pricing are contributing towards strong rental demand. Despite all the new multifamily construction, the demand for rentals continues to outpace supply.”

“Simply stated, median home values are increasing at an even greater rate than rents, making ownership even tougher and rental demand even stronger,” explained Weaver.

 “The median home value in Miami-Dade is now over $330,000, meaning a renter who could afford a 10% down payment on a median-priced home in Miami-Dade would have a mortgage around $2,000, $700 more than the average Miami-Dade rental.”

The multifamily debt markets remain robust with a plentiful options for potential investors.

For more information on this news release, please contact:


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