Airbnb/VRBO short term rentals pushing up longer term rental prices ?

[Astucia]

I know a number of snowbirds here on the North Coast - all of them have stated that this year they are paying up to DOUBLE the price of their previous rental. And next year looks even higher. Many of them are looking at other destinations for upcoming winter rentals. It would be a shame to lose these snowbirds - most are not the "big party people" that a lot of the sort term rentals seem to acquire. And the most common response they get is that " we can get $1000 weekly for a rental that previously rented for maybe $1000 to $1500 monthly". I'll miss the MANY families and friends that have made this their winter vacation spot for many years, if this comes to be.

 

[CristoRey]

Dominicans will always ask what they think the gringo can afford to pay but thankfully everything in this country is negotiable.

 

[Astucia]

Dominicans will always ask what they think the gringo can afford to pay but thankfully everything in this country is negotiable.

Interesting - I only know of 1 of these rentals that is Dominican-owned. Most are European or North Americans.

 

[slowmo]

Whenever Asia opens back up again for tourism, the DR will get back to normal. Right now, I am in no rush to lock something up for next winter.

 

[drstock]

I know a number of snowbirds here on the North Coast - all of them have stated that this year they are paying up to DOUBLE the price of their previous rental. And next year looks even higher.

You should speak to the snowbirds who rent my apartments and you will get a different answer.

 

[Northern Coast Diver]

I know a number of snowbirds here on the North Coast - all of them have stated that this year they are paying up to DOUBLE the price of their previous rental. And next year looks even higher. Many of them are looking at other destinations for upcoming winter rentals. It would be a shame to lose these snowbirds - most are not the "big party people" that a lot of the sort term rentals seem to acquire. And the most common response they get is that " we can get $1000 weekly for a rental that previously rented for maybe $1000 to $1500 monthly". I'll miss the MANY families and friends that have made this their winter vacation spot for many years, if this comes to be.

Even as prices here on the north coast have increased due to heavy demand this year, don't forget that the cost of living back home has also increased. I think that the snowbirds will complain, but continue to arrive. It gets awful cold in the winter up north.

 

[windeguy]

Even as prices here on the north coast have increased due to heavy demand this year, don't forget that the cost of living back home has also increased. I think that the snowbirds will complain, but continue to arrive. It gets awful cold in the winter up north.

Exactly. Prices are up dramatically in my home country. So expect price rises here in the DR as well. Will they go down? Perhaps a bit, but it is not likely to go back to where they were.

 

[windeguy]

Whenever Asia opens back up again for tourism, the DR will get back to normal. Right now, I am in no rush to lock something up for next winter.

Asia and the DR are completely different markets. At least for most people.

 

[Big]

There is still availability at the Marriott in Sosua. 1250 a night the web site says must prepay in full.

 

[slowmo]

Asia and the DR are completely different markets. At least for most people.

How many different markets are there for people looking to escape the cold for the winter? Snowbirds aren't going to stay home and shovel snow because their favorite beach town is closed.

 

[windeguy]

How many different markets are there for people looking to escape the cold for the winter? Snowbirds aren't going to stay home and shovel snow because their favorite beach town is closed.

People in general from the USA and Canada aren't nearly as likely to go to Asia over the Caribbean, Florida or Mexico to escape from the horrible winter weather. I was addressing the comment that people will now go to Asia because prices are "up" in the DR. Right, 20 hours on a plane each way to Asia is my dream trip these days.


As for that different "market" there are a few people that like Asia if Sosua were not "available" or priced out of their budget. They already go to Asia at times. Those people don't matter to the DR's economy in the scheme of things.

Puerto Plata now has two cruise destinations. HUGE revenue for the DR.

Sosua to Cabarete has been changing, some choose to not notice these changes. This video also discusses those changes:

I see the same changes as mentioned in this video: The Expat versus the Tourist. Anyone who is here that doesn't see these changes has their eyes closed.

 

[slowmo]

People in general from the USA and Canada aren't nearly as likely to go to Asia over the Caribbean, Florida or Mexico to escape from the horrible winter weather. I was addressing the comment that people will now go to Asia because prices are "up" in the DR. Right, 20 hours on a plane each way to Asia is my dream trip these days.


As for that different "market" there are a few people that like Asia if Sosua were not "available" or priced out of their budget. They already go to Asia at times. Those people don't matter to the DR's economy in the scheme of things.

Puerto Plata now has two cruise destinations. HUGE revenue for the DR.

Sosua to Cabarete has been changing, some choose to not notice these changes. This video also discusses those changes:

I see the same changes as mentioned in this video: The Expat versus the Tourist. Anyone who is here that doesn't see these changes has their eyes closed.

I understand that for many people simple math is complicated but Thailand went from 40,000,000 tourists in 2019 to 400,000 tourists in 2021. All I am saying is that when 90% of the snowbird destinations are closed, the other 10% that are open will be super busy.

 

[MariaRubia]

What people have to realise is that there is basically three years of demand in the system. People didn't go away in 2020 or 2021 and so now that everything is opening up again, everyone wants to travel. Every single one of my friends has said this to me. So of course there is a lot of demand. I personally think it's a blip, 2023 will be lower than normal because a) we won't have the Russians or Ukrainians (both huge markets for DR) and b) a lot of people will have spent more than they budgeted for on holidays this year and c) inflation is pushing up prices everywhere so everyone will have less to spend. But obviously just my opinion.

I also seriously question whether owners make more out of renting short-term on AirBnB than they would on a long-term rental. After paying for the extra cleaning and the extra wear on furniture, plus all those odd nights when the property is empty, and then someone to handle the bookings and paying commisions, I just think longer-term is more viable.

 

[windeguy]

I understand that for many people simple math is complicated but Thailand went from 40,000,000 tourists in 2019 to 400,000 tourists in 2021. All I am saying is that when 90% of the snowbird destinations are closed, the other 10% that are open will be super busy.

And I am saying that the tourism industry for Asia and the Caribbean serve primarily different markets. Most of those millions to Thailand were Chinese and most of the rest were from areas closer to Thailand.

 

[windeguy]

What people have to realise is that there is basically three years of demand in the system. People didn't go away in 2020 or 2021 and so now that everything is opening up again, everyone wants to travel. Every single one of my friends has said this to me. So of course there is a lot of demand. I personally think it's a blip, 2023 will be lower than normal because a) we won't have the Russians or Ukrainians (both huge markets for DR) and b) a lot of people will have spent more than they budgeted for on holidays this year and c) inflation is pushing up prices everywhere so everyone will have less to spend. But obviously just my opinion.

I also seriously question whether owners make more out of renting short-term on AirBnB than they would on a long-term rental. After paying for the extra cleaning and the extra wear on furniture, plus all those odd nights when the property is empty, and then someone to handle the bookings and paying commisions, I just think longer-term is more viable.

Since people can charge more in the short term, it makes perfect sense for them to do so right now. Tomorrow is another day.

Long term renters, as in longer than snowbirds stay, is another issue altogether. Those people are not tourists, but are either locals, illegal aliens, or legal residents.

 

[slowmo]

And I am saying that the tourism industry for Asia and the Caribbean serve primarily different markets. Most of those millions to Thailand were Chinese and most of the rest were from areas closer to Thailand.

If it makes you feel better, we can use the numbers from Cuba. Pre covid was 4,000,000 per year and in 2021 dropped to 356,000 per year. The DR is reaping the benefits from mostly staying open when most others are closed.

 

[windeguy]

If it makes you feel better, we can use the numbers from Cuba. Pre covid was 4,000,000 per year and in 2021 dropped to 356,000 per year. The DR is reaping the benefits from mostly staying open when most others are closed.

That is far more relevant to the Caribbean region with the exception of people from my home country who have difficulty going there. No question the AI resorts in Punta Cana did far better because of the DR's focus on them during the pandemic, that was never in dispute. Our rentals also benefitted.

 

[Big]

People in general from the USA and Canada aren't nearly as likely to go to Asia over the Caribbean, Florida or Mexico to escape from the horrible winter weather. I was addressing the comment that people will now go to Asia because prices are "up" in the DR. Right, 20 hours on a plane each way to Asia is my dream trip these days.


As for that different "market" there are a few people that like Asia if Sosua were not "available" or priced out of their budget. They already go to Asia at times. Those people don't matter to the DR's economy in the scheme of things.

Puerto Plata now has two cruise destinations. HUGE revenue for the DR.

Sosua to Cabarete has been changing, some choose to not notice these changes. This video also discusses those changes:

I see the same changes as mentioned in this video: The Expat versus the Tourist. Anyone who is here that doesn't see these changes has their eyes closed.

windguy, that video looks like it shows things are just the way they always have been. Heavy drinking members of the local 355 teamsters union looking for budget rooms, cheap drinks and some company. Although I have not been driving over to Sosua as much the only thing I have noticed is different wrapping on the same package. Most restaurants that attempt to go even close to upscale go out of business and\or start selling wings and 5 dollar tacos. Finally, any middle aged man that wears a sleeveless muscle t-shirt or a t-shirt with a baseball hat on is screaming " I am a loser with only 30 dollars to spend"

 

[HDR]

People in general from the USA and Canada aren't nearly as likely to go to Asia over the Caribbean, Florida or Mexico to escape from the horrible winter weather. I was addressing the comment that people will now go to Asia because prices are "up" in the DR. Right, 20 hours on a plane each way to Asia is my dream trip these days.


As for that different "market" there are a few people that like Asia if Sosua were not "available" or priced out of their budget. They already go to Asia at times. Those people don't matter to the DR's economy in the scheme of things.

Puerto Plata now has two cruise destinations. HUGE revenue for the DR.

Sosua to Cabarete has been changing, some choose to not notice these changes. This video also discusses those changes:

I see the same changes as mentioned in this video: The Expat versus the Tourist. Anyone who is here that doesn't see these changes has their eyes closed.

Well made video! And yes hope he will do a video about Cabarete, where we live. Better vibe and yes a lot of things are changing. Lot of digital nomads that got "stuck" here and now love to be "stuck", Lot of snowbirds that really thinking about being a bird all year. Rental prices are up big time and yes it will continue. People now realized that they can work from home. And home could be paradise, And yes, honest also. Traffic issues, the strip in Sosua that still is an eyesore on weekends.

 

[CristoRey]

windguy, that video looks like it shows things are just the way they always have been. Heavy drinking members of the local 355 teamsters union looking for budget rooms, cheap drinks and some company. Although I have not been driving over to Sosua as much the only thing I have noticed is different wrapping on the same package. Most restaurants that attempt to go even close to upscale go out of business and\or start selling wings and 5 dollar tacos. Finally, any middle aged man that wears a sleeveless muscle t-shirt or a t-shirt with a baseball hat on is screaming " I am a loser with only 30 dollars to spend"

It must be said.
People make clothes Big, clothes don't make people and smart people with money can afford to dress however they see fit, if for nothing else not to make themselves look like an easy target. The day I see folks walking the streets of El Batey and they are no longer wearing sleeveless shirts or baseball caps, I'll stop going.