Miami One Of Top Three Cities For Residential Building Permits
by Sep Niakan | September 02, 2015
Approval rates for residential area building permits in Miami were third fastest growing in all of the U.S. during the first half of 2015.
New York and Los Angeles were the only two cities with higher residential building permits, according to the Department of Commerce’s data released in July. New York was up 149.4%, Los Angeles was up 41.4%, and Miami was up 37.5%.
Multifamily construction held almost three quarters (69%) of the permits given out in Miami, which was third once again in that category. Los Angeles, in second place for multifamily construction, was at 72%, and New York was at 90% for the same category.
Even though there was a noticeable increase in permits, Miami ranked eighth overall in raw numbers of housing permits issued. Miami is also notably adding fewer units for housing than in years before, but that is probably due to the lack of undeveloped land to be built on inexpensively. That alone has caused demand to take over supply, which in turn, drives up the prices of the land that is there.
Photo credit: buildingpermitsmiami.com
by Sep Niakan | November 29, 2016
This is a story of how one Miami condo dweller (that's me, Sep Niakan) gave up his car at the end of his lease and gained freedom (and $$) in its place. If you have been thinking of getting rid of your car or know someone who is, read...
by Sep Niakan | November 24, 2016
Lending, specifically FHA lending, is inching forward in favor of Miami Condos. Before President Trump pulls out any game-changers, I thought it would be the right time to reflect on a Bill passed into law by President Obama this August. The...
by Sep Niakan | November 22, 2016
It’s been almost a year since BrickellHouse’s robotic parking garage blunder, and I’ve been thinking about what this means for the automated parking business in Miami condos. In brief, Boomerang Systems (the robotic garage...
by Sep Niakan | October 31, 2016
From a humble 9-to-5 district to after-dark playground for the it-crowd, Downtown Miami has had quite a turnaround in the past decade or so. According to the latest Miami Downtown Development Authority report, there are now 88,540 residents in...