Global online home rental market has witnessed significant growth in the recent years. Growing urbanization coupled with changing consumer preferences for rental homes has positively impacted the market. Consumers today prefer short-term rentals over long-term leasing, empowering the sharing economy and driving the demand for online home rental platforms. Various online platforms offer a wide variety of homes for rent across different locations, price ranges and amenities as per customer needs. This has streamlined the home rental process for both property owners and travelers. Furthermore, the ease of online bookings, reviews and ratings have boosted consumer trust and transaction volumes in the market.
Market Dynamics-
Rapid growth of sharing economy and tourism industry has been a key driver for the online home rental market. Short-term rentals allow property owners to generate additional income from idle/secondary properties. Meanwhile, travelers prefer home rentals over hotels due to personalized experiences.
Untapped regional markets especially in developing nations present significant growth opportunities for market players.
Strict government regulations around home-sharing in certain cities pose a challenge. Lack of standardized contractual guidelines and delayed dispute resolutions also restraint the market growth.
Key Features of the Study-
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