Numerous well-heeled Americans are avoiding the expense and delay in moving house post-coronavirus by seeking turnkey residences, furnished to the nines, and requiring only a key to make it home.
Over the last three months, one in 16 Miami single-family homes valued at more than $6 million were sold fully-furnished.
Turnkey homes eliminate the stresses associated with new-home details such as decoration and renovations, allowing rich homebuyers to relocate with ease and fluidity.
However, the improving economic climate since the last recession saw an explosion in long-term rentals converted to vacation rentals in major US cities, seeing the current global inventory of vacation rental apartments grow to around 20 million. Since the COVID-19 pandemic, many furnished short-term vacation rentals will have to be converted to month-to-month rentals to continue generating revenue.