Miami’s office market has experienced a significant resurgence in early 2025, with leasing activity reaching its highest levels since late 2023 and rental rates climbing sharply.
New York City had already been losing residents since 2017, but the trend accelerated during the pandemic. Many of the wealthiest chose Florida—particularly Miami and Palm Beach. This influx of high-income buyers led to a sharp rise in home prices.
Amid rising construction costs, fluctuating interest rates and tariff disputes, developers are increasingly choosing to sell sites they have spent years entitling rather than sit on land they can’t afford to build on yet.
From luxury condo launches to housing for essential workers, there are eight major developments shaping Miami’s property market.
Grappling with growing issues around affordability, safety, and intense development, here’s a snapshot of the top challenges highlighting the region’s housing struggles.
The real estate market in South Florida is undergoing a dynamic shift, tackling long-standing challenges around affordability, urban density, and lifestyle. Here are five key trends shaping the local market.
No-bid government land deals are typically justified in emergency situations, such as post-disaster recovery. However, when there is no emergency and without a competitive process, Miami-Dade county can’t be sure it’s getting the best deal possible.
Additionally, it led the nation in net international migration, gaining 123,835 people from abroad.
Construction is scheduled to begin in January 2026, with an expected completion by 2028.
Developers Ellen Buckley, Gaetano Caltagirone and Jeffrey Adrizon discussed challenges in the year ahead at annual Miami commercial real estate conference.