No Slowing Down for Summer: Vacation Rental & Second Home Markets Remain Strong
With Covid-19 still a fact of daily life in Miami, and the rest of the United States, the big question is will investors still continue to buy rental properties in Miami even during the pandemic?
People have long made the move to South Florida from across the Northeast to enjoy the Sunshine State’s favorable climate, close proximity to major cities such as New York, cosmopolitan lifestyle and also the lack of state income tax.
During the coronavirus era, the migration to South Florida continues at a steady pace, with more people looking to permanently relocate in addition to purchasing second homes.
Howard Elfman, managing broker of The Agency South Florida, notes that buyers are prepping for a possible resurgence of the virus in colder, winter weather and recognizing that money goes much further in South Florida compared to a major city.
While Miami continues to be a popular destination—the beach, Brickell and downtown—buyers are looking for homes with land in less densely populated beach towns including Aventura, Fort Lauderdale and Boca Raton.
Source – Worth.com
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