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Published on Monday, November 20, 2017

Asia Pacific villa rental market on the rise



Asia Pacific accounts for just US$390 million of the global US$120 billion vacation rental market, but the signs are there that the region is catching up fast.


Villa rental platform Villa-Finder.com's analysis of Airbnb listings and Airdna data shows there are about 9,000 villas for rent across Asia Pacific, which equates to only about three-quarters of the total number of properties available full-time in Paris.


However Villa-Finder.com says there is an annual 18.3% growth in the region, citing research from Statista.


Villa supply is growing across the region beyond traditionally crowded markets such as Bali, Koh Samui and Phuket.


Countries like Vietnam, Myanmar, Laos, China are fast developing markets to meet customer demand for more unique travel experiences, says David Chambat, CEO of Villa-Finder.com.


"When tourism in Sri Lanka grows, the villa rental market will also grow, following a pattern set elsewhere. As tourism develops, it will attract more 'holiday home' investors to the island. These investors will in turn attract top agents seeking alternative accommodation options for their clients," said Jack Eden, CEO of Eden Villas.


From a Thailand perspective, Richie Lopez, MD of White Rose Samui said: "In Thailand, the competition is getting fierce which I think will drive the rates lower which will mean more bookings. The key country is China. It will be the market for the next five years."


Villa-Finder says Samui and Phuket in Thailand, as well as Sydney and Byron Bay are strong markets with more expensive rates at an average of at least $300-$400 per night.


That contrasts with the highly competitive Bali market which has average rates of only $250, according to data.


Other key market with attractive per night rates are Chiang Mai, Hua Hin, Goa or Perth, Villa-Finder says.


In contrast services provided in Australian villas is quite distinct from the rest of Asia.


"The majority of Australia's holiday villas are still managed by professional property management companies, many of whom have their backgrounds in the Real Estate industry rather than the Tourism industry. This has created a more 'self service' approach where, in many cases, guests are still asked to provide their own linen, even for luxury properties," said Mat Lewis, co-founder and CEO of View Retreats.


"Although this is rapidly changing, the service and inclusion levels at many villas in Australia remain quite different to most regions of Asia where villas are often staffed or offering full resort style facilities."


 


 


 


 

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