Less Vacancies in West Palm Beach Real Estate and More Demand
Commercial West Palm Beach real estate has some of the lowest vacancy rates in the country, but according to a report released by ProLogis Research Group in Spetember, vacancy has decreased in all sectors of the West Palm Beach real estate market and in markets throughout South Florida.
The West Palm Beach real estate market posted declines in vacancy over the first half of 2005, and the overall vacancy rate for the nation´s top 30 markets "declined to 9.0% at midyear 2005 from 9.7% at year-end 2004 and 10.2% at midyear 2004."
The surge in demand that began late last year in the West Palm Beach real estate market "extended into the first half of 2005," after overshadowing the new real estate supply and existing inventory.
Despite the increased demand and prices, rents have managed to level off, and residents should probably expect to lose certain rent concessions.
The West Palm Beach real estate market posted declines in vacancy over the first half of 2005, and the overall vacancy rate for the nation´s top 30 markets "declined to 9.0% at midyear 2005 from 9.7% at year-end 2004 and 10.2% at midyear 2004."
The surge in demand that began late last year in the West Palm Beach real estate market "extended into the first half of 2005," after overshadowing the new real estate supply and existing inventory.
Despite the increased demand and prices, rents have managed to level off, and residents should probably expect to lose certain rent concessions.
