Downtown Miami's Residential Occupancy Rate Now At 93%
Study puts downtown Miami on the map as among nation's most active residential markets with 84% of total units completed during boom sold. Less than three years ago, tens of thousands of new condos sat empty; today these same units are almost completely full.
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Downtown Miami now stands strong as one of the most active residential real estate markets following what is considered to be among the worst real estate crashes in our nation's history. An independent Residential Closings & Occupancy study commissioned by the Miami Downtown Development Authority shows that 93% of the 22,785 condo units constructed since 2003 are now occupied with primarily full-time residents, signaling a tightening of the market as a result of limited remaining inventory.
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See our news coverage:
|03/09/12||Miami Herald, "Downtown Miami Units Nearly Full"|
|03/09/12||El Nuevo Herald, "Mas de 90% de los condos del downtown estan ocupado"|