An oversupply of posh in Miami
Overbuilding in Miami’s luxury home market has created a buyer’s market. Some $1-million-plus residences now are selling for 20% to 35% less than their original asking price.
Downtown Brickell is particularly saturated, with more than three years of condo supply.
ALSO IN THIS ARTICLE: Century Homebuilders Group; distributor Cosentino; The Sacred Space; Paradise Farms; ESJ Capital Partners; Jungle Island animal park; Augerge Residences & Spa Miami; NewME; LointerHomes; Michael A. Finney; Sheldon T. Anderson; Cristina Jimenez; Fabiana Estrada.
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