Real Estate News

Condos are in a crisis in South Florida. Here are some financial takeaways

Stories by Miami Herald journalists, with AI summarization

South Florida condos face financial strain from regulatory changes and market pressures. Laws passed after the Surfside collapse force condo owners to save for costly repairs. The increased financial burden leads to foreclosures and selling to developers.

Meanwhile, a Miami developer plans luxury condos on a cruise ship, combining real estate and cruising expertise with plans for residence ships. And condo association fees continue to grow.

See our ongoing coverage below.

Home buyers should review fees for homeowners and condominium association fees to see if the amenities are worth it, including pool, gym, clubhouse.

NO. 1: ARE FEES FOR CONDO AND HOMEOWNER ASSOCIATIONS WORTH IT? ASK YOURSELF THESE QUESTIONS

What buyers should know about the expense. | Published January 28, 2025 | Read Full Story by LEW SICHELMAN

View of the DOWNTOWN MIAMI skyline from Watson Island, on Wednesday July 31, 2024. By Pedro Portal

NO. 2: COULD YOUR CONDO BE A TAKEOVER TARGET? KNOW THE SIGNS THAT COULD ATTRACT A DEVELOPER

Unit owners in older buildings are facing new expenses. | Published January 30, 2025 | Read Full Story by Miami Herald Archives

Illustration by By Rachel Handley

NO. 3: FLORIDA’S SURFSIDE LAW HELPS DEVELOPERS AS CONDO OWNERS FACE SPIKING FEES AND FORECLOSURES

“The building collapse was probably not at all due to financial conditions or lack of reserves.” — Margaret Rolando, co-creator of the Florida Bar task force that issued recommendations after the tragedy | Published March 1, 2025 | Read Full Story by Alexandra Glorioso Rebecca San Juan

Rendering of Navigator when it’s ready at end of 2026

NO. 4: CONDOS ON A CRUISE SHIP? WHY A MIAMI DEVELOPER IS PLANNING LUXURY HOMES AT SEA

Take a look at what’s being planned. | Published April 23, 2025 | Read Full Story by Vinod Sreeharsha Jane Woolridge

The summary above was drafted with the help of AI tools and edited by journalists in our News division. All stories listed were reported, written and edited by McClatchy journalists.