During The Real Deal’s Third Annual South Florida Showcase and Forum this month, a panel of experts agreed that despite the boast of success by developers, companies should be cautious.
“Since velocity is down, the most dangerous is product that is not under construction or well under construction,” said Inigo Ardid, co-president of Key International.
Developers are being advised to wait on launching new projects and hold onto land or be selective with new projects.
“Tell brokers to be selective of projects. Study that project because when you study that project and know the projects, you’re in a much better position to educate that buyer and understand why Miami is in a much better position,” said Shahab Karmely, founder and CEO of KAR Properties.
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