Spike in Florida Condo Supply Is Creating a Buyers’ Market

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Inspections mandated after a 2021 building collapse have led to expensive repair costs, forcing many to list their units.

By Julia Echikson

Five years after the Covid-19 pandemic sent condo prices skyrocketing in Florida, the market is now lagging as new building regulations drive up costs and foreign buyers stay away.

After the tragic 2021 collapse of the Champlain Towers South complex in Surfside, Fla., which killed 98 people, the Florida legislature mandated inspections for condo buildings 30 years and older. As a result, owners are facing hefty renovation bills, forcing many to put their units up for sale, flooding the market.