Miami condo sales slowing despite 73 percent sale rate — ISG World

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Broker ISG World reports that 73 percent of new condos in costal Miami through Fort Lauderdale have buyers, but condo sales are slowing in 2015.

The study reports that 12,409 of 16,866 units in buildings announced from January 2012 have been purchased.

Developers have reported condo sales slowing in 2015 because of the weakening of foreign currencies have made it more expensive for Latin American purchasers to buy the condos — especially since they need to provide 50 percent deposits.

The portion of units sold was 82 percent in Brickell, 68 percent on the Biscayne Corridor (Downtown Miami, Wynwood, Design District, Edgewater, Midtown), 72 percent on the beaches (Miami Beach, Sunny Isles Beach, Surfside, Bal Harbour, Hollywood, Hallandale Beach), 61 percent in Aventura, 84 percent in North Miami Beach/Key Biscayne/Coconut Grove, and 46 percent in Fort Lauderdale, South Florida Business Journal reports.

You can access the ISG Report here.

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