Property Types Multi-Family
May 16, 2008
Apartments are becoming harder and harder to come by in Miami-Dade County, according to Marcus & Millichap's first quarter Apartment Research Report. The real estate investment services firm reports that vacancy rates are in the low-4 percent range and that rents have ticked up a tad and will increase 1.1 percent by the close of 2008. The extremely tight apartment market, however, is expected to loosen as buyers capitalize on the excess condo stock in the area. Marcus & Millichap anticipates that the dynamic will increase the vacancy rate to 4.8 percent by year's end.
Apartments are becoming harder and harder to come by in Miami-Dade County, according to Marcus & Millichap's first quarter Apartment Research Report. The real estate investment services firm reports that vacancy rates are in the low-4 percent range and that rents have ticked up a tad and will increase 1.1 percent by the close of 2008. The extremely tight apartment market, however, is expected to loosen as buyers capitalize on the excess condo stock in the area. Marcus & Millichap anticipates that the dynamic will increase the vacancy rate to 4.8 percent by year's end.
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