Berkadia has released its 2020 Forecast report for South Florida, and there are some interesting points about last year’s figures and where the market is headed for 2020.
One of those points is developer attitudes focusing on major employment hubs intended to attract young and affluent professionals, a relatively new market with plenty of potential.
In addition, deliveries are expected to be 16,000, twice the number of last year. It’s expected to lower the occupancy rate to 95.5 percent, but constant demand will continue to provide upward pressure on leasing costs – 2.1 percent – over the next four quarters.
See the report below for reference.
You can also download the report by clicking here.