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MULTIFAMILY INVESTMENT PROPERTIES GROUP
| SOUTH FLORIDA
YEAR
UNITS ASKING RENT
ASKING RENT
PSF
ASKING RENT
GROWTH
EFFECTIVE
RENT
EFFECTIVE
RENT PSF
EFFECTIVE RENT
GROWTH
VACANCY
NET
ABSORP
DELIEVERED
UNITS
2016 (YTD) 10,194 $1,328
$1.95
2.3% $1,322
$1.94
2.3%
7.4% -130
-
2015
10,239 $1,298
$1.91
3.0% $1,294
$1.90
3.2%
6.4% -84
-
2014
10,259 $1,260
$1.85
4.3% $1,255
$1.84
5.0%
5.8% -175
-
2013
10,339 $1,208
$1.76
3.2% $1,203
$1.75
3.7%
4.7% 124
8
2012
10,352 $1,171
$1.70
4.4% $1,164
$1.69
4.9%
6.1% -290
-
2011
10,687 $1,122
$1.62
1.0% $1,115
$1.61
1.1%
6.4% -89
12
2010
10,683 $1,110
$1.61
1.1% $1,105
$1.60
1.2%
5.6% 15
-
2009
10,729 $1,098
$1.59
-1.7% $1,092
$1.58
-2.0% 6.2% -71
-
2008
10,816 $1,118
$1.62
-2.0% $1,111
$1.61
-2.2% 6.3% -7
-
2007
10,816 $1,140
$1.66
2.2% $1,133
$1.64
2.3%
6.2% -148
-
-300
-250
-200
-150
-100
-50
0
50
100
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016 YTD
Net Absorption (Units)
Deliveries (Units)
$1,140
$1,118
$1,098
$1,110
$1,122
$1,171
$1,208
$1,260
$1,298
$1,328
$974
$965
$937
$951
$982
$1,020
$1,071
$1,129
$1,218
$1,247
6.2%
5.6%
6.4%
4.7%
7.4%
3.8%
4.3%
3.2%
2.6%
2.5%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
$1,800
$2,000
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016 YTD
Asking Rent $/unit
Vacancy %
Miami Beach
Miami-Dade County
MIAMI BEACH DELIVERIES VERSUS ABSORPTION
MIAMI BEACH RENT VERSUS VACANCY
MIAMI BEACH
MULTIFAMILY MARKET SUMMARY
-300
-250
-200
-150
-100
-50
0
50
100
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016 YTD
Net Absorption (Units)
Deliveries (Units)
$1,140
$1,118
$1,098
$1,110
$1,122
$1,171
$1,208
$1,260
$1,298
$1,328
$974
$965
$937
$951
$982
$1,020
$1,071
$1,129
$1,218
$1,247
6.2%
5.6%
6.4%
4.7%
7.4%
3.8%
4.3%
3.2%
2.6%
2.5%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
8.0%
$0
$200
$4 0
$600
$800
$1,000
$1,200
$1,400
$1,6 0
$1,800
$2,000
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016 YTD
Asking Rent $/unit
Vacancy %
Miami Beach
Miami-Dade County