THE HIDDEN COST THAT RESIDENTS WHO LIVE IN MIAMI CONDOS PAY IS NOT THE PURCHASE PRICE
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✍️ Living in a Miami condominium is expensive, with monthly fees reaching historic highs, according to a recent analysis.
👉 Monthly fees in Miami-Dade have increased by almost 500 dollars per month compared to the previous year. 👉 The average monthly fee in Miami-Dade is over $1900, with Fort Lauderdale and Palm Beach averaging over $1800. 👉 Insurance costs have increased by 25%, with an average monthly cost of $377 in Miami-Dade and $438 in Fort Lauderdale and Palm Beach. 👉 Operating costs have also increased, with professional management fees rising over 40% per unit in a year. 👉 The collapse of the Champlain Towers South condominium in Surfside has led to increased regulatory requirements and higher insurance costs.
-- #RobertSmith #Miami #Miami-Dade #FortLauderdale #PalmBeach #Surfside #NewYork #world
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