Cassia Commons is the builder's sixth new residential development in Broward County. Prices Are Surging in South Florida as Developers Grapple With Land Constraints
"Demand in the investor market continues to be competitive and shows no sign of slowing down," said Kleiner. "South Florida's attractive but limited inventory and demand for newcomers continues to make for a robust rental market."
February 03, 2022 at 03:20 PM
3 minute read
Real Estate News
South Florida's population is continuing to rise as retirees and younger workers are moving to Broward County's metro areas, preferring to live in places with relaxed COVID-19 policies and warmer climates. But with shrinking inventory and high demand, home and rent prices are starting to surge.
According to the 2022 U.S. Multifamily Investment Forecast Report by Marcus & Millichap, the surge is causing newcomers to consider more multifamily choices. Meanwhile, developers are following renter demand and building in Ford Lauderdale proper, Hollywood and nearby submarkets.
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