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Florida's New Short-Term Rental-Friendly Condos are Breaking Ground
The real estate market in Florida continues to evolve, as evidenced by the launch of the Roble One condo project in Coconut Grove by SSA Group. This innovative 16-unit complex is set to feature units that allow for short-term rentals, a trend increasingly favored by investors looking to tap into the lucrative vacation rental market.
What to Expect from Roble One
Situated at 3069 Plaza Street, Roble One will include both one- and two-bedroom apartments, with sizes ranging from 575 to 1,000 square feet. Prices will begin at $780,000, bringing the total projected sellout to an impressive $14 million. With construction commencing soon and an anticipated completion date in late 2026, the development promises modern amenities, including a gym and a rooftop Jacuzzi for residents to enjoy.
Why Short-Term Rentals Are on the Rise
As the demand for short-term rental properties grows, projects like Roble One are becoming increasingly common, especially in Miami's booming real estate landscape. In fact, half of the new condo developments in South Florida are designed to accommodate short-term rentals. This is indicative of a broader shift in consumer preferences, as more buyers seek the flexibility of renting out their units for short periods, particularly in popular tourist destinations.
Coconut Grove: The Next Hotspot
While many neighboring Miami areas are seeing an influx of short-term rental-friendly projects, Coconut Grove’s market remains relatively untapped. This offers a unique opportunity for prospective homeowners keen on investing in a growing community. Recent activities, such as the acquisition of older properties by local developers, suggest a pivot towards enhancing the area’s rental potential without overwhelming its unique charm.
Conclusion: The Future of Investment in Coconut Grove
As SSA Group's plans for Roble One unfold, they underscore a significant trend in the Florida real estate market. Investors and homeowners should keep a close eye on this shift towards short-term rentals, especially in emerging neighborhoods like Coconut Grove. With its picturesque environment and potential for profitable rental income, this area might just be the next investment hotspot.
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