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 | Download Occupancy Report March 2010
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.”
CNBC & MSNBC
Tuesday, March 16, 2010
Housing Battles Back “Inventory’s been flying off the shelves by 350 units a month.”