In South Florida, Rising Condo Costs Are Reshaping Buyer Decisions

Written by:

Alejandra Rodriguez

Date:

01 Jun 2026

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Every fall, thousands of people from New Jersey, New York, Connecticut, and Boston chase the same goal: escape the cold and spend winters somewhere warm. For decades, Hollywood and Hallandale Beach, Florida, delivered exactly that. But heading into 2025 and 2026, rising maintenance fees, new condo reserve laws, and shifting inventory are forcing buyers to rethink their approach, and the ones acting now are finding better deals than those still waiting.

Elisa Salmeron, a Broker Associate with RE/MAX 5 Star Realty who relocated to Hallandale Beach about 30 years ago, works with this crowd daily. She has watched the area grow from a quiet stretch of beach towns into a destination with new restaurants, luxury developments, and a growing pool of international buyers.

The Area Has Grown In Visible Ways

When Salmeron arrived three decades ago, Hallandale Beach looked nothing like it does today. Restaurants from New York City and London have opened. Luxury condo towers like Icon Beach and Shell Bay are rising along the waterfront. The Hard Rock entertainment complex draws visitors year-round. The beaches remain the main attraction for northerners and Canadians trading gray winters for ocean views.

“We have really improved Hollywood and Hallandale Beach,” Salmeron says. The area sits between Miami’s energy and the quieter pace of Palm Beach County, which helps explain why it continues to attract buyers from both directions.

Canadian Sellers Are Creating Opportunity for Northeast Buyers

Headlines have focused on the wave of Canadian sellers listing South Florida properties, and Salmeron confirms it is happening. Currency exchange rates, political uncertainty, and changes to Canadian health insurance coverage for extended stays abroad have pushed some owners to sell.

But the picture is more complex than a one-way exodus. “I have Canadians that have come and bought new properties here in South Florida,” Salmeron says. Sellers and buyers are moving at the same time, which means more inventory and more negotiating room than the market has offered in years.

For Northeast buyers, this matters directly. More listings from motivated sellers, including some who need to sell quickly, create leverage that was scarce during the pandemic boom.

Maintenance Fees Are the Deciding Factor for 55-Plus Buyers.

Salmeron works extensively with buyers in 55-plus communities, from Century Village to properties across Broward and Palm Beach counties. She says this group has one overriding concern: how high will maintenance fees go?

Florida’s new condo reserve laws mean buildings that spent years deferring maintenance are now catching up fast. Monthly fees are rising, and the pace of increases is difficult to predict. Taxes follow predictable patterns, Salmeron notes, but maintenance fees tied to aging buildings and new legal requirements are harder to budget around. “They know that’s more manageable than the maintenance,” she says.

For retirees on fixed incomes, this uncertainty is the single biggest factor in choosing between a vintage condo with a lower purchase price and a newer building with higher but more stable fees.

Why Some Buyers Are Stopping the Wait

After two years of hesitation, watching interest rates, reading political headlines, tracking every market update, more buyers are deciding to act now rather than wait for ideal conditions.

The reasoning is straightforward: if rates drop, competition spikes. Buyers who purchase now, while inventory is higher and sellers are more flexible, avoid that scramble entirely. If rates fall later, they refinance. Salmeron agrees with this logic. “If the interest rates go down, everything is going to be for sale, people are going to be selling, buying, it’s just going to be crazy,” she says.

Where the Opportunity Is

Beyond timing, Salmeron points to two areas worth serious attention for buyers and small investors.

New construction condos are the cleaner option right now. Newer buildings sidestep the complications of vintage condo reserve funding gaps and aging infrastructure. They can also be rented out, generating income when the owner is not in residence – a practical advantage for snowbirds who use the unit only part of the year.

For investors willing to look beyond the waterfront, Salmeron flags commercial real estate, specifically multi-family properties, storage units, and small warehouses, as underrated in the Hollywood and Hallandale area. The same location advantages that drive demand for beachfront properties also support commercial space.

Looking Ahead

The combination of higher inventory, motivated sellers, and new development activity puts buyers in a stronger position than they have held in several years. But the window depends on interest rates remaining elevated enough to keep competition manageable. If borrowing costs fall significantly, the leverage buyers currently enjoy will narrow as demand returns.

For anyone weighing a purchase in this market, the practical question is whether today’s negotiating room outweighs the chance of lower rates tomorrow. “I feel very positive,” Salmeron says. “I feel people are going to start realizing that home ownership is a good thing.”

About the Expert: Elisa Salmeron is a Broker Associate with RE/MAX 5 Star Realty in Hallandale Beach, Florida, with roughly 30 years of experience working the Hollywood and Hallandale Beach market.

This article is intended for informational purposes only and does not constitute legal, financial, or investment advice. The views and opinions expressed herein reflect those of the individuals quoted and do not represent an endorsement of any company, product, or service mentioned. Readers should conduct their own due diligence and consult qualified professionals before making any investment decisions.