Swire Chief: Condo Market ‘At Half The Pace’ Compared To Last Year, But Healthy

Swire Properties President Stephen Owens told a forum last week that ‘there’s no question’ that sales of condos at Brickell City Centre have slowed down.

Owens told the audience that the market is ‘at half the pace’ compared to last year. He blamed it on more discerning buyers, and said that it was a sign of a healthy market. His comments were reported by The Real Deal.

As of March, 17% of units at Swire’s Brickell City Centre RISE condo tower has been sold. That compares to nearly 80% sold at REACH, which launched sales earlier.

Dezer Development president Gil Dezer echoed Owens’ sentiments last week, saying that ‘there’s the same number of buyers’ as before, but more projects. He also said that it was now a healthier market, and that it wasn’t ‘normal or stable’ when units were selling out as fast as they were last year.

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Story by: TNM Staff on May 18, 2015
Photo Courtesy: The Next Miami (TNM)

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