Airbnb trends 2023 – My top 5 predictions

In today’s video, we dive into the latest trends in buying, investing and managing properties. 

My goal? For you to stay ahead of the game in the real estate market. 

IFrom the cottage destinations to urban areas and unique stays, we’ll cover it all. 

Discover the best markets to watch out for, the ideal stay length, and property types for 2023. 

Plus, I’ll give you expert tips on pricing and buying and selling properties. 

Don’t miss out on this opportunity to be in the know and make smart real estate decisions as the future unfolds. 

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Expand Transcript

What’s up guys, in today’s video, we’re gonna be talking about the top trends on Airbnb and short term rental for 2023. I’m gonna give my top five predictions for what’s going to happen this year in the short term rental and Airbnb world as it relates to buying properties, investing in short term rental properties, managing other people’s properties, we’re going to start by going through markets, then I’m going to talk about state length and my predictions, their property types, pricing, and just the overall trends that I expect we’re going to see when it comes to buying and selling. So let’s jump into it. And let’s get started with markets. I want to first talk about what markets I think are going to do well, and what changes are going to happen in different types of markets on Airbnb. So let’s start with cottage markets. Now to clarify that a bit. When I say cottage market, I mean, really any type of market that’s catering to the staycation type of traveller. So this could be a cottage country market, it could be mountain, it could be beaches, it could be by National Park, really, it’s just an area that people are going to get a break from the city. So typically, this type of market is going to be a couple hours outside of a major metro area. And I suspect that these areas are still going to be really strong performers in 2023, just like we’ve seen in 2021, and 2022. But they are going to do worse than the last couple years. So when I say they’re going to do worse, but they’re going to be strong performers, you’re probably thinking, well, how can those two things possibly coexist. And what I mean by that is that what we saw going from 2019 to 2020, was these markets took a massive jump, they performed absolutely outrageously well, because people couldn’t travel internationally. And so these were the only real options. So we saw the prices, and the overall revenues just skyrocket. And I don’t think that trend is going to continue, we already saw that trends start to cool down at the end of 2022. But if you look at it, and just kind of extrapolate the trend from 2018 2019, and see where things would have been in 2020 2021 2022. And now 2023, those numbers are still really strong. And we’re still doing much better than where we theoretically should have done if it weren’t for the whole pandemic. So I see college markets still being strong, but they will see a decline in my my prediction, they’ll see a decline from the last couple of years. So as long as you either bought or are going to buy the property right, and not be like what people were in the last couple years, just paying whatever they could to get their hands on one of these properties, you can still get a really good return. But watch out for inflated prices in these areas, we are seeing prices start to come down a lot of these types of markets all over North America. So keep watching out for that because there are some really good deals to be had. And despite what the people are saying in those areas, they still perform really, really well, I’ve still got the majority of my portfolio and those types of markets. And they’re performing really well. We’re going to talk more at length, at the end of this video about exactly what’s happening, why people are kind of leaving those, those areas. And we’re gonna talk about kind of the buying and selling trends. But that’s my thoughts on college markets. I also think that urban markets, the more kind of traditional business, travel type stays, or people are going to come from international, those are going to start to pick back up even more. Because again, international travel is just, you know, rebounding at this point. And there’s a lot more business travel rebounding. So I think those are markets are going to start to pick back up even more than they have in last couple years. So they’re going to be some good opportunities in those types of markets as well. Next, let’s talk about state like what I suspect we’re going to see going into 2023 My prediction is that we’re going to see some longer stays. But those are going to be mostly in urban areas. And I think the reason for that is going to be that there’s more remote work and more ability for people to travel. Years ago, I used to be you know more of a digital nomad than I am now. And I would regularly go and spend several months at a time in a new place, just living and working from that new country, a new city, what have you. But I would always want to stay somewhere relatively urban when I was doing that, because let’s face it, being in a rural area and trying to work is just going to come with its share of headaches, you typically are going to need to rent a car, which is an additional headache, you’re going to need to stock up on groceries because not nearly as convenient. You can’t just call an Uber Eats things like that. And the internet tends to be more spotty. So while I do see people trending towards working remotely for maybe a couple of days or a week at a time, taking some time off during the week to go and do that because they now have the flexibility to do so. I haven’t necessarily seen the trend that Airbnb keeps really harping on of longer term stays in the rural areas. But what I do suspect is going to happen is we are going to see those longer term stays happen more in urban areas, because there’s going to be more people looking to remote work in those areas. Because travel is also opening back up so that people that you know are living for example in Canada and want to escape the winter might go down to Miami or somewhere in Florida or somewhere over in California and work for a few months. So I think in more urban areas, we are going to see longer term stays. And in more rural areas, we’re going to still still see optimal state lengths of like three to seven nights. Next, let’s talk about property types. The types of properties that I think are going to do exceptionally well in 2023 are going to be unique stays with really awesome amenities. When you think about it, the real benefit that people get from staying in Airbnb and sure, there are plenty, you know, you can argue that the prices are a little bit lower, you can argue that because you get a kitchen, you also are going to save money on groceries, things like that. But really where I see the most value to booking a property on Airbnb, is when you’re travelling with a large group. And specifically, when you’re looking to stay in a really cool place with that group that’s got some fun amenities for everything to do, or has some kind of uniqueness factor. I can say, from my own personal experience as a consumer that the vast vast majority of stays I booked on Airbnb over the last three, four years have been when I’m staying with multiple people. Typically, if I’m travelling solo, or just me and my girlfriend, we’re gonna go and just get a hotel. Because it’s often a lot easier, it’s relatively same price. It’s usually a little bit nicer than a lot of the Airbnb czar. And Airbnb has been dealing with this problem for a while where there’s just unpredictability. But suddenly, when you increase the group size to 5678, people, that equation changes dramatically, it’s going to be almost impossible to get a hotel or any other alternative aside from a vacation rental for a group that large and who wants to split the group up and have them all in different places. Also, when you have a large group, you can all get together in a communal space, that’s really nice. You also are going to save a lot of money going the short term rental route, as opposed to booking multiple hotel rooms for everyone. You also get the advantage of amenities where you can all enjoy the amenities privately, you don’t have to have a shared pool with everyone else in the hotel, you can have your own pool, your own hot tub, and you also open the door to booking larger really cool properties that have unique features. Like recently I stayed in a property that was right on the lakefront how to hot tub had all kinds of cool features. And you just couldn’t have booked a hotel to get a similar type of experience. So long story short, over the last year or two I’ve really seen a trend towards more unique stays, Airbnb is highlighting them a lot more on the website on the platform. And I see this trend really continuing into 2023. So anything that you can do to get your hands on a property that has the potential for you to add some additional awesome amenities like a hot tub, or a sauna, or a game room or movie room, anything like that, or that has a unique factor where it’s like really cool, it’s in a really cool location, you can add a geodesic dome or some other types of cool amenities or cool unique place for people to stay. I see those again, continue to just do really, really well. Because that’s again, where you’re going to differentiate yourself, especially on the on the smaller side of properties. If you’re just staying with a couple of people, then they’re always going to be comparing your property to a hotel. So what you want to do is put yourself in a whole different category if you have a smaller place, but it’s a geodesic dome. Well, that’s a whole different category and a whole different experience than staying with two people in a hotel room. Sure the hotel room might be less expensive, or it might be more expensive, you know, it might be might be more luxurious more hand but you can’t sleep out and look out up at the stars and have that really cool experience. So property types really awesome cool properties, unique stays with great amenities, I think you’re gonna do really, really well and 2023. Guys just want to take a quick break to say that for those of you watching who want to build cashflow, and long term wealth by purchasing Airbnb ease and short term rental properties, there’s a link in the description down below for a FREE TRAINING they’ll walk you through my exact strategy for investing successfully in Airbnb is the training walkthrough the three most important things that you need to know if you want to successfully buy your first or next short term rental property. And again, the link is in the description down below for you to sign up completely free. When you sign up for the training, we’re also going to send you our ROI analysis tool completely free so that you can analyse properties the right way and find properties that will generate amazing returns. Again, the link to sign up is in the description down below. And both the training and the ROI analysis tool are completely free. Pricing, I think is going to be a massive change from what we’ve seen over the last couple of years. And this relates to how much things are starting to cool down. People can now travel internationally a lot more easily than over the last couple of years. And So already we’re seeing and I’m observing this with the members that I work with observing this everywhere I’m observing it with my own properties is that it just takes more skill and more know how to price your property effectively right now than what was required over the last couple of years. Over the last couple of years. You could basically set your pricing or whatever you want did not really put much effort into it. And just because of the fact that a lot of especially these cottage type, staycation type markets, there was so much more demand and supply, your property would just get booked. And so I think this really kind of lured people into this false sense of security that their property was all are always going to be very, very easy to price and to manage, and that they’d get consistently amazing returns on their investment with out any effort. And that’s just not realistic. It’s not that it takes a huge amount of work when you actually think about the number of hours or the amount of effort really going into this. But pricing is a skill pricing is something you need to have a good data driven strategy for. And that is definitely the case going into 2023. We’re seeing already that properties are going to sit vacant and not be booked up. If you’re late on adjusting your pricing. If you’re just you know, kind of asleep at the wheel, setting your pricing and forgetting it, your property is just not going to get booked up, you need to have a data driven approach in order to determine when to increase or decrease your pricing. Otherwise, you’re going to be leaving a tonne of money on the table. Again, this is a trend I see being really amplified, and 2023, especially in comparison to what we saw in 2021, and 2022. So if you don’t already have a strategy, make sure you check out the resources linked down below or the other videos on this channel to make sure you really dial in your pricing strategy going into this year to make it a success. Last but not least, let’s talk about the trend that I predict we’re going to see in 2023 around buying and selling just as far as actually being able to buy or sell properties, what do I think is going to happen? Well, I think there’s going to be a lot more great deals available than what we’ve seen over the last couple years. If you are looking to buy a short term rental property actually invest in short term rentals, I think that a lot of people are going to be selling just because they can’t afford properties now with interest rates being as high as they are compared to where they’ve been for the last couple of years. And I also think that a lot of inexperienced hosts that got started in the height of the excitement, and are now realising that when push comes to shove, they bought at way too high of a price, those two types of hosts are now going to be forced to sell. Again, this is something that we’re already seeing warehouser Being hosts are being forced to sell their properties that they just can’t afford, because in reality, they just bought it for way more than it was worth because they bought with their emotions, not with their brains. And so that is a trend that I think we’re going to start to see much more of the ripple effect of that happening throughout 2023. I think 2022 was just kind of getting started seeing the impact of that, I think we’re going to see a lot more of it in 2023. So with all those people selling, I do expect there’s going to be some really great buying opportunities, I’m already seeing a tremendous amount more solid buying opportunities right now at the very beginning of 2023. than what we’re seeing in the last couple of years. There’s more properties on the market. I even had a member that we work with and b&b in our circle that just recently bought a completely turnkey property, a short term rental that was already up and running and came with bookings and everything. And he got it for $50,000 below asking price. That’s something that if you’re a wind just 12 to 24 months, you never would have seen that happening. People were paying absolute top dollar for turnkey properties. And now one of our members was able to get one for $50,000 below asking price. So the deals are definitely out there. There’s some really solid properties that whether they’re turnkey or not, are going to go for really, really solid prices. So if you’re interested in investing in short term rentals now is going to be a really great time. As Warren Buffett always says you really want to be fearful when others are greedy. And people were greedy or last couple years. But what he also says is you want to be greedy when others are fearful. And people are really starting to get fearful people are starting to panic, especially with the rising interest rates. And so many people and variable rate mortgages, they just can’t afford to carry these properties anymore, so they’re forced to get rid of them. So now’s the time to buy, in my opinion, there’s lots of really great deals coming up. And there’s gonna be more as my prediction throughout 2023 Because I really don’t see things changing in too much of a large material way over the next six to 12 months when it comes to interest rates and this overall cycle that we’re in. So those are my predictions. Let me know your thoughts in the comment section down below if you agree or disagree again, these are his prediction predictions. These are my best guess at what’s going to happen. I’d love to know your thoughts as well. If you liked this video, if you got value from it, if it was helpful for you to understand kind of where we’re at in the market and where I expect things are going then let me know by hitting that like button. Let me know by subscribing to the channel as well. We post two new videos every single week on the channel, so make sure you subscribe, make sure you hit the like button. Let me know in the comment section down below your thoughts. And with all that being said, thanks so much for watching, and I’ll see you in the next video.

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