There is no doubt that COVID-19 has impacted real estate and hospitality communities. However, could the future of short term rentals provide a solution for investors, developers and the (largely) Millennial generation?
By MiamiDiario Newsroom
Before this pandemic, the shared economy was an attractive and affordable option for those seeking to live in booming urban areas, while also providing investment options Affordable starters for people in their thirties.
Today, the developers behind projects like Native Miami yde YOTELPAD Miami, both located in the center of the city of Miami, continue to see sales success despite the crisis and believe that this type of product will continue to be in great demand after the pandemic.
here is somes important points related to this topic:
– Buyers will find that the affordability and flexibility of short term rental products for sale is an increasingly attractive investment option. Experts anticipate that people might consider these options as safer travel options as they will see less traffic than a typical hotel room.
– How developers are adjusting plans and designs to incorporate home office space. Known for its compact spaces, the future of short-term rentals includes adapting its layout to include functional spaces and multi-faceted that can be transformed from an office or school work space to a training space, etc. Working from home has opened up a need for designated and private spaces for this task.
- As the COVID-19 pandemic has changed the way developers are planning upcoming projects within the rental/sharing economy in the short term, especially in international cities like Miami, where buyers are mostly from Latin America.
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