The number of active ads on Airbnb is increasing. Currently, there are about 50,000 active ads from Georgia on the apartment rental site, including 18,000 active ads from Tbilisi and 20,000 from Batumi.
According to the founder of Wehost, the management company of Airbnb in Georgia, the increase in advertisements is not caused by high demand, but by a changed trend on the market.
In particular, as Nika Anjaparidze explains, if citizens switched to long-term apartment rental due to the Russia-Ukraine war, now these people have returned to short-term apartment rental services. Accordingly, the increase in advertisements on Airbnb is also related to this.
When supply exceeds demand, prices also decrease. According to the founder of Wehost, the price of short-term rental apartments has dropped significantly.
"The prices are reduced a lot. When there is no demand and the supply is 2-3 times more, the prices are very low.
If we take the most expensive apartment, which cost USD 150 in summer, such apartments cost USD 45 now. Small apartments, rented for USD 30-40, can be hired for USD 15-20.
The number of European tourists has decreased considerably and this is one of the factors of the decrease in demand. For the last 1-1.5 years, the number of tourists is not what it was before," Anjaparidze said.
Wehost is the first Airbnb management company in Georgia, which currently manages more than 500 apartments in Tbilisi, Batumi and Gudauri.
