Did Airbnb Affect The Rental Market In Beirut?

1st September 2018
Home > News > Did Airbnb Affect The Rental Market In Beirut?

The rise of Airbnb listings in Beirut in the past few years is undeniable. But did this rise affect the real estate rental market? and did it impact the local real estate brokers?

With a few button clicks on a smartphone or a laptop, you can book a reasonably priced, centrally located private apartment or a room within an apartment in Beirut. Airbnb is probably making travel easier all over the world not only in Beirut, but is it affecting the rental market of Beirut? One can safely argues that Airbnb main service is short rental and it is directed mostly to travelers and hence it is in direct competition to hotels and motels rather than real estate rental market; but come to think of it, every apartment listed on Airbnb is usually off the long-term normal rental market. By taking supply off the market, Airbnb could potentially raise prices. But is this the real situation?

Talking to many home owners who are using the Airbnb platform to help rent their apartment, the common explanation goes as follow: “ we always prefer long-term rental to a series of short-term rentals across the year that requires more management including services such as cleaning and constant wifi that is not usually required for long-term rentals. However, Beirut has witnessed a big supply of apartments available for rent in the past decade following the real estate market rise in early 2000’s and hence owners are finding Airbnb an option to rent their apartments for short-term. We believe that the target audience of Airbnb clients and long-term rentals are totally different and the supply market of apartments for rent in Beirut remains reasonably high that no real impact can be measured”.

On a related note, one real-estate agent we interviewed argues that many real estate investors are seeking to purchase apartments that fits Airbnb profile to benefit from the platform ability to improve their ROI; Hence can this impact positively the real estate Sale market rather than hurt the real estate long-term rental market?

Both equations remain equally difficult to measure and tracking such impacts on real estate market may be insignificant!


Share this article
  • icon
  • icon

Related News Articles

JSK Snowshoeing Day At Faqra Followed By Lunch At Montagnou

JSK team is known for his team spirit and his love for outdoor activities in all season. In March, the company had their monthly outing to Faqra for a day of snowshoeing. “We were blessed with the most amazing weather ever and we spend almost 3 hours on a track of snowshoeing” – said Carlos Zgheib, Senior Agent at JSK.“We are agent and by definition we love outdoor activities;...

15th March 2019
JSK Incentive Trip To Strasbourg Christmas Market

Strasbourg is the biggest Christmas market in Europe and was the destination of JSK incentive trip in 2018. “JSK is built on quality service provided by exceptional agents”, said Mr. Jade Zoghaib CEO of the company. “Continuous incentive of our team is something we enjoy and we will keep on doing at JSK”. In 2018, the team chose to visit the Christmas market of Strasbourg and C...

6th December 2018
COVID-19: The World Is In The Eye Of The Storm!

It all started in Wuhan – China in December 2019. By early 2020, it spread into Europe and the USA. Italy is severely hit by it. Iran is suffering hugely. Russia is still denying it. France seems to be acknowledging a bit late the implications of it. Lebanon is in the eye of the storm today. COVID-19 is the number one discussed topic worldwide nowadays with huge health & ec...

19th March 2020
JSK Celebrates National Real Estate Day!

On Tuesday, May 17th, 2022, the whole team gathered in Jbeil and celebrated National Real Estate Day. The day began with a walk in Jbeil’s Old Souk, followed by a tour of the city’s citadel that dates back to the 12th century.The real adventure started once we embarked on a walk towards Amchit. The weather was perfect, the sun was shining along with a small breeze o...

17th May 2022