Despite The Housing Crunch, According To Airbnb, Single-room Listings Are Increasing

NEWSDespite The Housing Crunch, According To Airbnb, Single-room Listings...

In response to a crisis in the cost of living, Airbnb Inc. reported on Wednesday that it had seen a “disproportionate” 31% increase in single-room listings on its platform during the third quarter.

Without providing exact figures, the business said that property listings increased nationwide and that an update to the app was released on Wednesday to facilitate this rise.

As rising inflation brought on by the Ukraine war puts strains on frail household budgets, “we have seen a lot of individuals being more interested than even before in hosting to alleviate their cost of living,” Airbnb Chief Executive Brian Chesky said.

According to a poll conducted by Airbnb, 46% of hosts said they utilized the extra cash from renting out their apartments to pay for food and other necessities, and 10% claimed it prevented them from being evicted or facing foreclosure.

However, some well-known tourist locations have accused the corporation of making housing shortages worse since more landlords are renting out their apartments to tourists during a tourism boom than they are to long-term residents.

In an interview with Reuters, Airbnb co-founder Nathan Blecharczyk blamed rising interest rates for the lack of new housing stock, adding that it had been difficult for the sector to adjust to consumers who were increasingly looking for houses outside of major cities.

Longer guest stays brought on by remote working, according to the firm, will continue to improve profitability as travel demand remains strong despite economic challenges.
Additionally, it is enhancing its “categories” feature, which will enable customers to make travel arrangements without specifying a destination.

Latest news

Developing Financial Mindfulness

Credit Card Debt Relief Options Before diving into the practice of financial mindfulness, it's essential to address one common financial...

Why Ignoring These Recovery Steps Could Cost You After a Motorcycle Accident

A motorcycle accident can be a life-changing event, causing both physical and emotional trauma. If you or a loved...

Unveiling the Power of Azure Cloud Services in UAE: A Comprehensive Guide to Transforming Your Business

Introduction In this vibrant atmosphere of business operations, cloud services pose a demand for any organization to be scalable, agile,...

8 Secrets Your Employer Doesn’t Want You to Know About Workers’ Comp

When you’re injured on the job, the last thing you want is to go through a complex workers' compensation...

Network Redundancy Best Practices

In today's fast-paced world, downtime isn't just an inconvenience; it can be a major setback for any business. Imagine...

How to Find Your Community and Heal Together After Trauma

Experiencing trauma can leave one feeling isolated and overwhelmed. For those looking for legal assistance in the aftermath, visit...

You might also likeRELATED
Recommended to you

Would love your thoughts, please comment.x