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For some time now we have been posting articles on the migration of residents from the North of the USA to Florida in search of single-family homes. The flow increased considerably with the pandemic. Most of these new buyers live in cramped apartments in northern urban centers and have realized the value that a large house with a backyard and pool can have in times of confinement.
The flow of Americans to Florida caused the price of single-family homes to skyrocket, not only because of increased demand, but also because inventory is low. There are few houses for sale on the market!
With high demand and lack of houses on the market, the natural movement is to turn attention to the condos. Are we entering a new cycle, where the demand for condominiums will also increase?
Demand is already high regarding Mexican buyers, who have emerged in recent months purchasing luxury condos in Miami, especially in neighborhoods like Sunny Isles Beach and also the city of Aventura.
However, it appears that demand has now also increased on the part of the North Americans themselves, who, in the absence of single-family homes, are buying condos.
