Categorized | Residential

Miami’s Commercial Real Estate Market Is Best in the Nation

Please Share!

Both the residential and commercial real estate markets in Miami have grown exponentially in the past year. According to the most recent data, that exponential growth has catapulted the city to the top of the commercial real estate market in the United States. Economists are now calling Miami the healthiest commercial real estate market in the country.

 

The vacancy rate for commercial properties in Miami is well below the national average in every single sector. In fact, the vacancy rate for each of the sectors, which include retail, multifamily, industrial, and office, is less than every other market in the United States.

 

The city’s industrial vacancy rate is at an astounding seven and a half percent. That figure is four percentage points less than the national average. It’s retail vacancy rate is also more than four percentage points lower than the national average, checking in at seven percent.

 

Commercial real estate vacancy rates are expected to fall on a grand scale throughout the nation in 2013, as the economy is expected to improve. With that said, it is unlikely that any other city will experience the same remarkable growth that is being see in Miami.

 

Demand continues to grow for commercial real estate properties in Miami. It is for that reason that many economists believe that Miami’s commercial real estate market will continue its outstanding growth for the long term.

 

The United States as a whole may soon begin to experience similar growth in the next year, as the unemployment rate continues to fall, and the job market is gaining strength.

Please Share!

About Ella Jourgeson

Ella was recently an intern who checked all the articles for grammatical and spelling errors. She is now an all purpose writer filling in wherever we need help.

Leave a Reply

Twitter Chat