Over half of Cape Town Airbnb hosts use it to cover bills
Cape Town – Up to 52% of Cape Town Airbnb hosts use the online home sharing service in order to afford their homes, the company revealed on Thursday.
This as the city’s housing prices grew by an estimated 7.9% in 2017 – the highest growth of any metropolitan area in South Africa.
The Western Cape showed a whopping 78.2% growth in property prices since the 2008/9 recession.
Airbnb Southern Africa Regional Market Consultant Velma Corcoran told News24 that out of the 43 000 Airbnb listings in South Africa, 17 000 are in Cape Town.
It is, however, unclear whether these listings are concentrated in a specific area in the city, such as the tourist-frequented CBD.
“We’ve met countless Airbnb hosts in Cape Town and seen how home sharing has helped them pay their bills and stay in their homes,” Corcoran said.
Source: fin24.com
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