MIAMI—There's a new reality in Miami's residential market. What does that mean for developers?
GlobeSt.com caught up with Henry Torres, founder, president and CEO of The Astor Companies. Astor is the developer of Merrick Manor in Coral Gables.
“In 2018, the Greater Miami residential and condominium markets will continue adapting to the new reality that we now have a local, end-user driven market,” Torres tells GlobeSt.com. “We don't currently have the outside forces, such as political crisis in places like Venezuela or the economic collapse of South American nations, to drive sales at new developments. It's much more of a local market.”
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