Will there be Airbnb Plus properties in Argentina?

There are 4 replies in this Thread. The last Post () by Rice.

  • These properties look amazing! However, AirBnb was born as the smart choice for the budget traveler and is now selling its soul to the devil.

    Having run an airbnb for short time, it looks appealing to buy a property to rent on airbnb but the amount of work required should not be underestimated. A friend of mine wanted to do an airbnb out of her former 1 br apartment after her husband and her formed a family and moved to a bigger place, but she has been struggling despite the good location (next to Milan fair).

    Her naïve idea was to use her nanny-maid to clean the other place whenever a guest was expected, while she would manage the listing and booking from the comfort of her office. But she had a fast change of plans and hired a property manager, except that the property is vacant most of the time and they are considering pursuing a 'standard' non-touristic rental.

  • Your friend's experience isn't unique. An apartment close to us is a former Airbnb property that now houses long-term renters.

    The company's evolution has been fast and wide-ranging. I hope they don't spread themselves too thin, as the original concept seemed to fill a real consumer need. Competing with hotels and other apartments is another animal.

  • In Palermo there are many, many touristic rental which are being sold.

    They were bought by foreigners after the 2001 crisis put on the market decent apartment for the price of a garage in the US. It wasn't just the price of property that attracted to Buenos Aires many foreigners for over a decade, it was also the cheap dining and living. However, recently having a second home in Buenos Aires brings a lot of expensas and costs. Many rented their property even back in the days, and some started renting it after costs rose. This lead to a saturated touristic rental market, as more rental properties were made available for lower rates, and less tourists came to Buenos Aires as it became an expensive destination.

    Therefore, foreigner owners took the leap and sold their properties while their property 'holds' decent value. Some have doubled their investment by selling today (in just 10 years).

  • I guess it remains to be seen whether the buyers of these recently-purchased properties have bought them to live in, or if they will remain rental properties, in which case rental costs would presumably remain high. If these properties are being taken off the market through buyers' living in them, rental costs could come down.

    Not that the Palermo rental market predicts the future of inflation in Argentina!