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Downtown Miami's Residential Occupancy Rate Surges to 74% as Condos Fill-up

Miami’s urban core bustling with full-time residents; heightened demand for downtown living fueling condo sales, retail business growth.
Press Release March 2010 PDF | Download Occupancy Report March 2010 PDF

Following one of the most historic boom-turned-busts in U.S. housing market history, Downtown Miami’s condo collapse has given way to new demand for urban living in an area previously considered to be a 9-to-5 business district. A new Residential Closings and Occupancy study by Goodkin Consulting/Focus Real Estate Advisors has found that 74% of the 22,079 residential units built in Downtown Miami since 2003 are currently occupied. This reflects a 12 percentage-point increase over the 62% occupancy rate reported in a similar baseline study completed in May 2009. Both reports were conducted in partnership with the Miami Downtown Development Authority (DDA).

See our news coverage:

NBC Nightly News with Brian Williams
Saturday, April 3, 2010
Downtown Miami: Boom to Bust to Boom “Downtown Miami occupancy at 74 percent”

NBC Today Show
Wednesday, March 17, 2010
Housing Market on the Rebound “Downtown Miami is now home to a growing population of young professionals, families, empty nesters and Latin Americans who are making Miami their primary residence.”

Tuesday, March 16, 2010
Housing Battles Back “Inventory’s been flying off the shelves by 350 units a month.”