Greater supply, high demand from those choosing the country to explore its most emblematic sites or those wishing to explore new non-urban areas, and affordability of prices. Three attributes that guarantee the success of investing in these lodging platforms.
Year-end seems to be the opportune time to take stock and think about the future in terms of investments. Airbnb and Vrbo were two of the companies that grew the most during 2023 in Costa Rica, continuing to write their success story and expansion since they arrived in the country.
These popular online lodging reservation platforms have maintained their upward trend since 2019, achieving a positive impact reflected in: not only a greater variety in the type of accommodation but also in the destinations chosen within the country (including new non-urban areas), the growth of bookings, and an increase in rates and other benefits for hosts.
Trust, affordability, and a varied offering adapted to the needs and budget of each user seem to be the attributes that most people seek when opting for these renowned lodging platforms when planning a new trip, showcasing their sustained success.
Statistics, trends, and new dynamics in the real estate market
When it comes to knowing the results of the year for Airbnb and Vrbo, the numbers speak for themselves: the occupied nights between both platforms were 332,000 in July (reaching its peak), with more than 33,000 lodgings throughout the country.
According to a survey conducted by the official Airbnb site in Costa Rica, 39% indicated that the main reason for choosing this website is to save money.
Another influencing factor is the travelers’ desire to explore new destinations, non-urban areas with great momentum, generating a positive impact on the local economy: during 2023, bookings exceeded 100% in these sites with a growth of more than 50% for their hosts compared to previous years.
Why choose Costa Rica for investments of this kind?
The constant demand for short-term rentals plus the opportunities offered by these lodging platforms lead to the conclusion that listing a property on Airbnb, at first glance, is an intelligent strategy for sustained growth over time.
Among the main benefits of short-term rentals, the following can be highlighted:
- Higher returns compared to long-term ones. For example, the specific case of higher nightly rates (many users choose to spend only one night at a destination before continuing their trip).
- Flexibility, the owner chooses when to rent the property, being able to use it personally at other times of the year when demand decreases and taking advantage of dates of special events when rates are higher.
- Diversification by exposure to a market different from traditional rentals, allowing for risk minimization.
- A market in constant growth.
When planning to enter the real estate investment market, it is advisable to rely on experts for advice on the particular property, to facilitate and guarantee the process, and to understand everything related to the sector in general.
