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Developers Scrambling for Land and the Condo Boom in South Florida
Developers Scrambling for Land and the Condo Boom in South Florida

 
Tuesday, July 29, 2014
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I reported on the Aquavita, Aquamar, Aqualuna, and Aquablu new developments in Fort Lauderdale and the incredible rush to buy preconstruction in South Florida, and the Wallstreet Journal also discussed the developers mad dash to buy all available land. The statistics they released for Miami reflect largely what is a trend in Fort Lauderdale as well, and that is the market is 100% back.


This time around it is here to stay as well, since developers seeded out speculators through the adoption of the Latin American style of financing, which is nearly always in cash and is across the board at least 50% down. All waterfront land is being bought and the price of condos built from 2003-2008 have increased an incredible 75%. Developers are willing to pay millions for acres of unbuilt land and the demand for these new condos is not slowing whatsoever with many new developments selling out before even breaking ground. If you are interested in a new construction condominium or are a developer looking for representation in a vacant lot sale, please contact me today

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