The tourism industry, particularly how tourists find accommodations for their vacations, has undergone a major shift with the rise of vacation rental sites like Airbnb, VRBO and Turnkey. In large numbers, travelers are preferring to stay in private residences rather than hotel rooms and for owners, finding short term renters has never been easier.
According to a recent Barclay’s report titled Hotels: Is Airbnb a Game Changer, “Airbnb has already overtaken major hotel companies in terms of its valuation by investors, but its growth could have it outpacing them in more concrete terms—actual guest bookings—in a few years”. So what does this change in the way people are vacationing mean to the real estate market?
Buyers are now finding that maximizing the investment on their Puerto Vallarta property is not only easier than ever before but also more lucrative. Using these vacation rental websites to list their Puerto Vallarta home gives owners the flexibility to rent their property as often or as infrequently as they wish, meaning that it is available for their own enjoyment when they want it, but generating income when they are not using it.
The ability for those who buy a vacation home in Puerto Vallarta to have their property advertised to a massive worldwide audience of potential renters means that buyer can monetize their real estate investment like never before. This is allowing buyers to enter into the vacation home market earlier than before, with the ability to generate rental income helping to offset mortgage payments and maintenance costs.
So while the “sharing economy” may be cause for concern for traditional hoteliers, vacation rental websites are putting second home ownership well within the reach of many buyers and opening up the possibility of real estate investing in Puerto Vallarta to a whole new segment of consumers.
Click here to learn more about the Puerto Vallarta real estate market from Elengorn Realtors.
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