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Multifamily Developers Pull Back on Deliveries in South Florida

According to Berkadia’s recently released Q2 2019 South Florida Multifamily Report, construction was completed on 8,522 units in the second quarter in South Florida, down from 12,562 additions posted in the second quarter of 2018.

The effective average monthly rent in South Florida is $1,651. In Downtown Miami/South Beach the average rent for the second quarter of 2019 was $2,112. The effective average monthly rent in South Florida is $1,651. In Downtown Miami/South Beach the average rent for the second quarter of 2019 was $2,112.

MIAMI—While apartment demand remains strong in South Florida, multifamily deliveries were down sharply in the second quarter, according to commercial real estate firm Berkadia.

According to Berkadia’s recently released Q2 2019 South Florida Multifamily Report, construction was completed on 8,522 units in the second quarter in South Florida, down from 12,562 additions posted in the second quarter of 2018.

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John Jordan

John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.

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