Inaugural Miami New Construction Show begins Friday

As a growing number of construction cranes stretch skyward in Miami, the first-ever trade show for new condominium construction kicks off Friday at the Miami Beach Convention Center.

The Miami New Construction Show, running through Sunday, aims to be a sort of supermarket of new condo development for prospective buyers and their agents and a networking venue for the many sectors of Miami business that are riding the wave of growth.

Among 86 exhibitors spanning 110 booths are developers showcasing 47 condo construction projects in South Florida.

Also taking space at the show are an array of professions and businesses related to the condo building boom. They include immigration lawyers, tax advisors, property managers, title companies, architects, interior designers and mortgage lenders.

Anita Funtek, the show’s chief executive officer, said the idea for the event came to her because the process of learning about the numerous condo construction projects under way in Miami can be labor-intensive.

“We are showcasing everything here in one place. You can see most of the projects. You can meet people, you can socialize,” said Funtek, who was a real estate broker in Hungary before moving to Miami three years ago.

The show also includes panel discussions focusing on subjects related to the boom. Topics include the role of social media in real estate; the factors fueling Miami’s pre-construction boom; crowdfunding in real estate and Miami’s place among global cities.

The show comes as the condo construction boom that started in 2011 has hit high gear, fueled by a buyer-deposit financing model in which unit purchasers typically put up 50 percent of the price during the construction process.

That model provides low-cost financing for developers and shifts more risk to the unit buyers. Developers say it deters the sort of speculative buyers who during the last boom made small down payments in the hope of quickly flipping units, but walked away from contracts when prices turned down. Banks typically still play a role in providing construction loans, but at a lower loan-to-cost ratio than in the past.

During the current condo boom, the vast majority of sales have been to foreign buyers. Some are looking to move capital into the United States, while others simply want a second home.

According to Peter Zalewski, founder of, a Miami-based firm that tracks the pre-construction market, seven Miami-Dade towers east of Interstate 95 have been completed so far this year. An additional 54 towers are under construction; 59 more projects are planned but haven’t begun development; and 53 others still require various approvals.

Zalewski, who is on the board of the new construction show and writes a column on the condo market for the Miami Herald’s weekly Business Monday section, is among those scheduled to speak at the show.

South Florida condominium prices have rebounded sharply over the past three years after nosediving during the historic real estate crash. In recent months, however, competition from the construction boom has created headwinds for existing-condo sales, and price gains have slowed.

If You Go

Miami New Construction Show

When: August 29-31

Where: Miami Beach Convention Center, Hall D, 1901 Convention Center Drive.

Tickets: $35 for one day.


Read more Business stories from the Miami Herald

  • In Miami, the art of Beatriz Milhazes fills museum, condo

    Brazilian artist Beatriz Milhazes is in the Miami spotlight this week as her solo goes up at the Perez Art Museum Miami and a Key Biscayne condo featuring her work is completed.

  • Atlantic Broadband offers 1 Gigabit service

    Atlantic Broadband, the nation's 13th largest cable operator, announced Wednesday that it is delivering 1 Gigabit symmetrical Internet within its Miami footprint. Atlantic Broadband launched this service to residents of Indian Creek Village this summer and is evaluating expansion opportunities.


    Fort Lauderdale home health firm settles federal whistleblower case.

    A Plus Home Health Care in Fort Lauderdale agreed to pay $1.65 million to the federal government to resolve a federal whistleblower suit that alleged it made kickbacks to doctors’ spouses to get referrals of Medicare patients.

Miami Herald

Join the

The Miami Herald is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

The Miami Herald uses Facebook's commenting system. You need to log in with a Facebook account in order to comment. If you have questions about commenting with your Facebook account, click here.

Have a news tip? You can send it anonymously. Click here to send us your tip - or - consider joining the Public Insight Network and become a source for The Miami Herald and el Nuevo Herald.

Hide Comments

This affects comments on all stories.

Cancel OK

  • Marketplace

Today's Circulars

  • Quick Job Search

Enter Keyword(s) Enter City Select a State Select a Category