Airbnb Malaysia: Restart your engine and it’s 60 percent millennials. Cool!
It’s not been an easy time for anyone who’s doing short-term rental. Demand does exist but no one could travel for vacation means not many needed accommodation. Thus, it may now be the time that everyone involved in the short-term rental could heave a sigh of relief. More demand will be coming very soon. This is where hosts for Airbnb can ‘restart their engine(s).’
Who do you think are hosts for these Airbnb rooms?
Article in nst.com.my Airbnb says that millennials between the ages of 25 and 40 accounted for more than 60 per cent of new hosts in the first half (1H) of 2021. The top five states where these new hosts were based are Selangor, Kuala Lumpur, Johor, Sabah and Penang.
Airbnb Southeast Asia, India, Hong Kong and Taiwan general manager Amanpreet Bajaj said, “2021 has undoubtedly proved challenging as the pandemic continues to impact Malaysian livelihoods, businesses and the broader economy. However, hosting has offered many an additional source of income during a time of financial strain, providing economic empowerment for these new hosts.” Please do refer to the full article here: Article in nst.com.my
If you are a millennial too, time to join them?
Owning a property for short-term rental can be financially rewarding. Some of these Airbnb operators including a number of my friends (yes, they are millennials) were able to earn double or more of what their typical mortgages per month during good times.
We just need to note that short-term rental does have its risks too. For example, no one could have foreseen the Covid-19 forcing so many countries into extensive lockdowns which lasted for such a long time.
One is able to do some research on popular properties for rental in Airbnb and then proceed to invest into one if you have the means. You may become one of the millennials who are getting good and continuous income too. At present I only have one property under short-term rental. It has been a lot of ‘holding on.’ Let’s hope all will be good soon. Happy thinking about it too yeah.
Next suggested article: 4 reasons why renting fully furnished has been good for me