It’s official — South Florida is the most notorious commercial real estate market in the U.S. Local multifamily sales are breaking records and attracting investors like never before.
And the numbers are projected to skyrocket from there across 2022.
Massive new multifamily sales record
These new stats dominate the last record from 2016. Back then, $5.5 billion was the roof, which makes 2021 more than twice as successful for the South Florida multifamily market. Investors bought more than 600 properties in the area last year alone.
But that’s not the only record crushed.
As far as median price per apartment goes, Miami-Dade, Palm Beach, and Broward counties reached an all-time high. For example, submarkets like Fort Lauderdale, Coral Gables, and Aventura boast average rents of over $2,500.
Sky-high rent prices in South Florida
Let’s take a closer look at rent increases for each county:
- Palm Beach County: +32.1% — another record-breaking stat as the highest rent increase South Florida has ever seen in a single year
- Broward County: +23.3%
- Miami-Dade County: +19.7%
The REI opportunity of a lifetime
There’s no chance of stopping buyers anytime soon. Investors from out of state will keep pouring billions into the multifamily sector, and South Florida will continue to dominate as the “hottest commercial real estate market in the U.S.”
What more can I say? It’s easy to see what the best place to invest in multifamily real estate is in 2022.
And if you’re ready to start raking in those multifamily sales this year, there’s no better opportunity to begin with.