• On the money

    On the money

    In Cape Town, people who use Airbnb to list their property make an average of ZAR43 400 a year from the service.

    The Mother City dominates Airbnb hostings in South Africa – nearly half (17 000 out of a countrywide 43 000) properties accessible via the app are located there, according to Airbnb Southern Africa regional market consultant Velma Corcoran, interviewed by News24. She adds that the average Cape Town Airbnb host lists their home for 32 nights of the year.

    While tourists gain, so do locals – Corcoran says more than 50% of Cape Town Airbnb hosts use the income to help afford their properties. ‘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 was quoted as saying.

    ‘They aren’t taking houses off the market; they are sharing their homes and the cities they love, and using the additional income to help pay the bills.’

    In May this year, a report revealed that Airbnb was responsible for about ZAR2.4 billion in ‘economic activity’ across South Africa in 2016. This was made up of both income for hosts and what guests spent.

    12 December 2017
    Image: Gallo/Getty Images