Skift Take
The increase in the past four years is more than what was seen in the 30 years leading up to 2020.
At a time when local governments all over the globe are trying to regulate and restrict short-term rentals, Miami is ready to welcome a surge of Airbnbs in the next couple of years.
The downtown of Miami has over 12,000 condo units in development. And yes, a significant portion — approximately 64% – of these condos are designed as small, furnished units intended for rental on Airbnb and similar sites.
In its third quarter 2023 review, South Florida-based real estate firm ISG World found that investing in small condos that can be rented out has become increasingly popular among buyers, especially those from Latin America and other parts of the U.S.
Short-Term Rental Condo Pre-construction Developments in South FloridaSource: ISG World
As of 2023, a total of 17,908 units in 92 condo buildings went into pre-construction phase. Of these, 8,467 units i