Air BnB in Albania, competition in tourism is lowering prices - Vathi: Increased supply has brought a decrease in the average price per month
More apartments are being listed, but on average less is being earned. According to data from Airbnb, at the beginning of this year, about 23 thousand apartments were listed for daily rent.
Although this figure is almost 40% higher than in the same period a year ago, revenues have not increased at the same rate. As a result, the monthly profit for a listed apartment has decreased.
"As long as they have increased significantly, I think the decrease in average income has been influenced by the change in the structure of apartments. Apartments may have been registered at lower prices and, naturally, the average price drops ," says tourism expert Besnik Vathi.
The increase in new listings has been observed mainly in Tirana and coastal cities such as Vlora, Saranda, Lezha and Durrës. Meanwhile, several other cities with tourism potential have not yet benefited from this development.
"If in Pogradec or other cities there is still no increase in daily rental listings, it means that tourism there is still in its infancy. These areas should be accompanied by activities that make them more attractive," adds Mr. Vathi.
According to Airbnb data, July and August are expected to bring peak income for daily rental apartments, reaching up to 1,500 euros per month, due to high demand during the tourist season.
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