The Asia-Pacific villa rental segment accounts for US$390 million of the global US$120 billion vacation rental market, according to a Villa-Finder.com analysis of Airbnb listings and Airdna data.
It estimates there are 9,000 villas for rent in Asia-Pacific, only about three-quarters of the total number of properties that are available full-time in Paris.
There are signs that this is on an uptrend, as Villa-Finder.com cites Statista research showing 18.3 per cent growth annually in the region.
David Chambat, CEO of the Villa-Finder.com, expects villa supply to develop beyond Bali, Koh Samui and Phuket, and spread all around the region.
He observed that with more investors building villas either for returns, or to prepare for retirement, countries like Vietnam, Myanmar, Laos, China and India are increasingly developing villa rental offers.
Moreover, Richie Lopez, managing director of White Rose Samui, predicted: “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.”
Meanwhile in Sri Lanka, Jack Eden, CEO of Eden Villas, is positive that tourism development will bring in more holiday home investors to the island. “These investors will in turn attract top agents seeking an alternative accommodation options for their clients, which will in turn fuel the rental market,” he said.