“In Serrallés and Piantini there are a large number of buildings being constructed to meet the need for short-term rentals, such as hotels.”.
SANTO DOMINGO – If you're a traveler, you've probably heard of Airbnb, a widely popular online platform offering short-term hospitality services. Founded in 2008, it's one of the many entrepreneurial ventures launched by young people with special needs.
This platform has revolutionized the real estate industry. It has created new business opportunities, leading to the emergence of capital and exclusive agents in this sector.
“This tool has come to benefit the industry, adding another service that we can offer because unlike a long-term rental, say a year or six months, even the owner can do it themselves, but in the case of Airbnb, many delegate that work to real estate advisors,” says Leonel de la Cruz of Hogarium Real Estate.
The tool was created when Joe Gebbia and Brian Chesky needed money and took advantage of a design conference in San Francisco, USA. Since all the local hotels were booked, they decided to buy three air mattresses and rent them out. This is how AirBedandBreakfast.com was born, and they charged guests US$80 per night. They then scaled up their idea, eventually becoming Airbnb, short for Air Bed and Breakfast.
With more than 130 short-term rental properties, Francisco Irizarry of SDQ Rentals agrees with Belkis Cuello that a large number of buildings are currently being constructed to meet the demand arising from this model, which also offers a better return on investment. “At BC Real Estate, we have a client who already owns ten apartments that he bought to rent through Airbnb, and even during the pandemic, he didn't stop renting; in addition, he has strengthened his specialization,” explains the executive.
According to the Stratos Jet Charters Inc blog, as of January of this year there were 2.9 million hosts on Airbnb worldwide, with 14,000 new hosts joining the platform each month, more than 7 million listings, 100,000 cities and 220 countries and regions with active listings.
According to Irizarry, this model has benefited both developers and agents, generating significant sales activity for mixed-use projects nationwide. The average annual occupancy rate hovers around 80 to 85%, although some months experience fluctuations.
Dominican, foreign, and local users utilize the platform for accommodation. “In the case of foreigners visiting our country for work, personal errands, or simply vacations,” De la Cruz points out.
“It has helped us tremendously; a single client from the United States bought six apartments in a Bella Vista building as if it were an aparthotel. It has expedited sales and has been beneficial,” noted the representative of BC Real Estate.
