With Summer right around the corner, the demand for short term vacation rentals is booming. Nationwide, the demand for these rentals spiked compared to last year and even the year before that. In fact, it is 5.4% greater than the same period in 2019, and 66.4% than last year. This spike is likely due to loosening Covid-19 restrictions and fast vaccine rollout.
Usually, the demand for short term vacation rentals decreases between spring break in March, and the beginning of Summer. However, this year many people are trying to get back to normal. Therefore, demand has been steady ever since April. In fact, the occupancy during April climed to 61.6%, which was higher than the occupancy in March (60.9%). Even though these numbers reflect nationwide demand, beach towns have seen a high increase in bookings.
Short term vacation rentals in South Florida
The practice of short-term rentals has never been highly regarded in Miami. In fact, it has always suffered from strict rules by the authorities. However, in recent years, Miami Real Estate has evolved and some developments have been launched. The following are examples of some of the new developments in South Florida that allow short term rentals:
Natiivo is an incredible luxury project that gives owners the freedom and flexibility to stay or host with ease. The Residences are turnkey with fixtures and furniture curated by Urban Robo, and have amazing panoramic ocean, Biscayne Bay, and Miami skyline views. he 50-story landmark building designed by internationally acclaimed architecture firm, Arquitectonica. Learn more about Natiivo
LEGACY HOTEL & RESIDENCES
Legacy Hotel & Residences, is located within the mega-development Miami World Center, one of the largest mixed-use projects in the United States. Units are in high demand by global investors. Legacy is a combination of a luxury hotel and residential tower. Featuring 278 branded residences sitting above a 255 room hotel, it is just a short distance from Brickell, South Beach, Wynwood, Design District, and Little Havana Learn more about Legacy Hotel & Residences
YotelPad is the latest residential extension to the YOTEL & YotelAir brand, bringing to the market efficiently designed units to utilize the space in a way to fit everything you ned without compromising on luxury. Learn more about YotelPad
Interested in learning more?
AMG International Realty is a full-service brokerage firm in Florida. If you are interested in buying, renting or selling your property in Florida, please give us a call today: +1 (305) 318 6968 (Heloisa Arazi).