South Florida's real estate market is experiencing a surge in demand for newly built condominiums, leading developers to adjust their strategies.

GCF Development is converting a five-year-old rental tower in Hollywood into condos, even though 90% of the units have already been leased. This shift reflects a broader trend in the region, where there is an oversupply of older units that are struggling to attract buyers.

In a similar move, an investor has acquired a recently completed rental project near Fort Lauderdale with plans to sell the units as condominiums. Additionally, a partnership has secured financing for a condo conversion project in Pompano Beach, indicating a shift towards meeting the demand for affordable and modern living spaces in the area.