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Miami Herald
13-06-2025
- Business
- Miami Herald
How rising costs are reshaping South Florida's real estate market
Real Estate News How rising costs are reshaping South Florida's real estate market This collection of stories explores how rising costs impact South Florida's real estate market, highlighting shifts in affordability and pricing that drive decisions for condos, homes and rentals in 2025. In Hollywood, new luxury apartment buildings continue to emerge, posing affordability challenges despite the development boom in the downtown area. Meanwhile, in Miami, residents grapple with soaring rent costs, making it one of the most rent-burdened metro areas in America. Development plans on Florida's Gulf Coast involve transforming a former mall site into affordable apartments as a response to housing demands. Read the stories below. Soleste Hollywood Blvd at 2001 Hollywood Blvd is pictured hovering among existing buildings on Sunday, Sept. 15, 2024, in Hollywood, Florida, as the city shores up its housing needs with development in its downtown area in an attempt to address the city's affordable housing needs. By Carl Juste NO. 1: EVEN AS HOLLYWOOD BUILDS MORE APARTMENTS DOWNTOWN, AFFORDABILITY REMAINS A CONCERN A look at what is coming and why it might not be enough to ease housing pressure | Published October 5, 2024 | Read Full Story by rhabersham@ Habersham Stephania Germain, 24, who is on a Section 8 housing voucher, poses inside her apartment that she lives in with her daughter on Thursday, Oct. 3, 2024, in Miami. Germain was raised in foster care and is doing the best she can for herself and her baby. She says that even with the voucher, with recent increases it makes paying rent tough. 'It just keeps going up and I don't get a break to save, and I need new baby clothes, ya know they grow out of them so fast,' said Germain. By Alie Skowronski NO. 2: MIAMIANS ARE THE MOST RENT-BURDENED PEOPLE IN AMERICA — AND THEY'RE STRESSED ABOUT IT New Census Bureau data shows that Miamians spend a larger chunk of their incomes on housing than residents in all other major American cities. | Published October 8, 2024 | Read Full Story by Max Klaver File photo of houses in Miramar, where all homeowners take their homestead exemption tax break. NO. 3: DO YOU OWN A ZOMBIE HOUSE? A VACANT HOME COULD COST YOU, AND YOU MIGHT NOT EVEN KNOW What to know about the real estate situation. | Published November 12, 2024 | Read Full Story by Lew Sichelman An affordable housing apartment complex is planned for the DeSoto Square Mall property where currently storm debris is being processed. By Tiffany Tompkins NO. 4: WANT TO LIVE WHERE A MALL USED TO BE? AFFORDABLE APARTMENTS COMING TO THIS FLORIDA AREA Check out what's planned. | Published January 22, 2025 | Read Full Story by Jason Dill The summary above was drafted with the help of AI tools and edited by journalists in our News division. All stories listed were reported, written and edited by McClatchy journalists.
Miami Herald
24-04-2025
- Business
- Miami Herald
Here are 8 key real estate trends shaping South Florida
Real Estate News Here are 8 key real estate trends shaping South Florida South Florida's real estate market is surging with bold projects and shifting demands. This collection of stories outlines new luxury towers like Soreno Fort Lauderdale and W Pompano Beach Hotel Residences, both promising high-end amenities and ocean views. Affordable housing is in focus as developers reimagine sites such as the former DeSoto Square Mall for cost-conscious renters. Condo owners grapple with stricter safety laws after the Champlain Towers tragedy, bringing new assessments and confusing deadlines. Meanwhile, lawsuits like the Hollywood Beach high-rise dispute highlight ongoing battles over local control and the promise of more affordable homes. The summary above was drafted with the help of AI tools and edited by journalists in our News division. All stories below were reported, written and edited by McClatchy journalists. Stephania Germain, 24, who is on a Section 8 housing voucher, poses inside her apartment that she lives in with her daughter on Thursday, Oct. 3, 2024, in Miami. Germain was raised in foster care and is doing the best she can for herself and her baby. She says that even with the voucher, with recent increases it makes paying rent tough. 'It just keeps going up and I don't get a break to save, and I need new baby clothes, ya know they grow out of them so fast,' said Germain. By Alie Skowronski NO. 1: MIAMIANS ARE THE MOST RENT-BURDENED PEOPLE IN AMERICA — AND THEY'RE STRESSED ABOUT IT New Census Bureau data shows that Miamians spend a larger chunk of their incomes on housing than residents in all other major American cities. | Published October 8, 2024 | Read Full Story by Max Klaver Real estate developers Related Group and BH Group announced its plans to develop W Pompano Beach Hotel & Residences, a swanky 24-story tower on nearly four beachfront acres managed by luxury chain W Hotels. Construction is likely to begin in 2027. An artist rendering shows what the project will look like. NO. 2: POMPANO BEACH GETS A NEW LUXURY DEVELOPMENT AMID CONSTRUCTION BOOM. CONDOS START AT $3.1 M Pompano Beach, a coastal Broward city in the midst of a building boom, is getting a new addition to its changing skyline: | Published November 20, 2024 | Read Full Story by Amanda Rosa Midtown Miami complex in 2022. NO. 3: HOW MUCH ARE YOU PAYING TO RENT AN APARTMENT IN MIAMI OR BROWARD? TAKE A LOOK AT COST Redfin crunched the median rent in South Florida. | Published November 18, 2024 | Read Full Story by Miami Herald Archives A rendering shows developers' plans to reconstruct the Deauville Beach Resort in Miami Beach. NO. 4: A NEW PROJECT IS PLANNED AT THE FORMER DEAUVILLE HOTEL SITE. HERE'S WHAT IT LOOKS LIKE The proposal would reimagine the historic hotel and add two condo towers. | Published November 26, 2024 | Read Full Story by Aaron Leibowitz An affordable housing apartment complex is planned for the DeSoto Square Mall property where currently storm debris is being processed. By Tiffany Tompkins NO. 5: WANT TO LIVE WHERE A MALL USED TO BE? AFFORDABLE APARTMENTS COMING TO THIS FLORIDA AREA Check out what's planned. | Published January 22, 2025 | Read Full Story by Jason Dill New York-based Condra Property Group wants to build an 18-story tower along Hollywood Beach. NO. 6: DEVELOPER'S PLANS FOR HIGH-RISE ON HOLLYWOOD BEACH WERE REJECTED. NOW THEY ARE SUING The lawsuit could impact how local governments implement the Live Local Act. | Published February 1, 2025 | Read Full Story by Amanda Rosa Condo inventory reached a new high in August in Miami-Dade County, finally tipping the market in favor of buyers. Above: Apartment rentals and condominiums dot the waterfront in North Bay Village. By MATIAS J. OCNER NO. 7: CONDOS IN FLORIDA ARE FACING A GROWING CRISIS. WHAT'S NEXT FOR OWNERS AFTER DEADLINE? Safety guidelines that went into effect this year are driving up costs and scaring off buyers. | Published February 19, 2025 | Read Full Story by Rebecca Liebson Integra Investments, a Miami-based real estate development firm, and co-developer Flying Point announced plans for Sereno Fort Lauderdale, a luxury condominium with prices starting at $1.4 million. The building offers 360 views of nearby parks and Atlantic Ocean. NO. 8: 'LUXURY COASTAL LIVING': MIAMI DEVELOPER BRINGING 14-STORY BUILDING TO FORT LAUDERDALE Love the 'Fort Lauderdale active lifestyle'? A new development is coming to town | Published March 20, 2025 | Read Full Story by Amanda Rosa This report was produced with the help of AI tools, which summarized previous stories reported and written by McClatchy journalists. It was edited by journalists in our News division.
