Got a couple of million to spare? If so, it could get you a few weeks of rest in a wealthy location.
Summer vacation season is at hand, which means millions of Americans are preparing to decamp for scenic locations around the country and the world. That said, there are at least a few places some travelers won't find listed on Airbnb — and with good reason.
Florida, South Carolina and California are popular destinations for the budget-conscious, TripAdvisor data recently showed, with rentals for the top 20 cities falling anywhere between $1,000 and $2,000 per week. Yet some luxury travelers are known to shell out top dollar for a few weeks of downtime in ritzy locales — sometimes paying $1 million or more for the privilege.
"The rental market in the Caribbean has remained fairly strong. This is being fueled mainly by multigenerational travel," said Neal Sroka, a broker of high-end real estate at firm Douglas Elliman, which sells luxury homes in places like the Hamptons, Mexico and the Dominican Republic, among others.
"Grandparents are taking their children and grandchildren, and like the fact that they can all be in one house," he said. "Many destinations such as Rosewood Mayakoba [in Mexico], Four Season Nevis and Amanera [in the D.R.], gives you the luxury of a home along with the amenities of a five-star hotel."
Sroka said that summer is considered "offseason" in the Caribbean and Mexico, so vacation bargain hunters can score a Mexican or Dominican villa for the relatively reasonable price of $2,000-$2,500 per night. That compares to up to $10,000 per night during off season, however, which Sroka said paled in comparison to other markets. "That's inexpensive compared to certain places [like] Anguilla, where villas trade between $25,000-$30,000 per night."