Have You Been Here? The Priciest Airbnb – Tel Aviv
A cultural mosaic of vibrancy and vivacity. A confluence of luxury. Thy name is Tel Aviv.
A closer look at the mosaic brings to view virgin beaches, awe-inspiring sea, sunkissed monuments, burgeoning fashion, appetizing restaurants…all these and many more…
Poised in Mediterranean coastline, Israel’s second largest city (after Jerusalem) city, Tel Aviv shines on the middle eastern world map as one of the most expensive Airbnb cities. It earned the sobriquet of the ‘Mediterranean Capital of Cool’ by the New York Times, owing to it being an all-time pulsating city that amalgamates sandy Mediterranean beaches with a stellar nightlife on the edifice of a state of the art architecture recognized by UNESCO standards. It is also known as, “The white city”, named so in account of the bright colors of the building style: white, off-white, light yellow. There are over 1,500 buildings marked for historic conservation in Tel Aviv.
The numbers say it all
In the latest Bloomberg index, Miami and Boston took the top two spots in the average daily cost of lodging in private dwellings for the second straight year. Airbnb owners asked for $205 a night and $195 a night, respectively, in the two cities. However, the Middle East has been climbing in the annual index and this year has five destinations among the top 15 priciest global cities: Tel Aviv and Dubai at Nos. 4 and 5, and Jerusalem, Riyadh and Kuwait City also near the top with Airbnb hosts asking for $183 dollars a night for Tel Aviv. According to Globes, Airbnb has added 10% to rents in Tel Aviv.
Reasons for Tel Aviv becoming an expensive Airbnb:
Airbnb is all about people and house connect. What makes it a popular Airbnb is the warmth and openness of its culture. Tel Aviv has understood and adapted to the culture of Airbnb that promises ambiance with quality and ‘ a home away from home’ feel. All that’s popular and precious comes with a price.
High Housing Costs
Tel Aviv is accelerating to a very pricey Airbnb owing to the skyrocketing cost of housing and hare-brained schemes. In some areas of Tel Aviv, prices of homes have doubled in the past two-three years alone. Apartments constitute a major chunk of a person’s gross income almost close to three quarters. Since Airbnb has to work on a mark up after factoring in the housing costs, this obviously leads to a high cost of Airbnbing. Besides, there has been a series of new taxes on those who buy apartments for investment purposes — the inevitable consequence of which has been to push prices up still higher.
Influx of Tourism:
Tel Aviv has been recently a popular tourist destination. On top of that, according to a recent survey, tourists to Tel Aviv are choosing Airbnb and other sharing economy rooms or apartments for their stays in the city over hotels according to a survey by the city of Tel Aviv. The survey showed that in the past year until now, 51 percent of tourists said they rented rooms using Airbnb or a similar service and that 30 percent of tourists rented hotel rooms. Thirteen percent reported staying in hostels so far this year. No other city in the world has reported such high usage numbers for “sharing economy” rooms, according to the city-owned Tel Aviv Global & Tourism company which sponsored the survey.
Tel Aviv exists in a secular bubble. Shabbat is observed beginning at sundown Friday, still, on the other hand, there would be jam-packed clubs and some restaurants that are welcoming. As soon as the sun goes down on Saturday night and the stars emerge, Shabbat is over. Stores and restaurants reopen and stay open late. This actually serves as an attraction to tourists. Besides, its openness to the LGBT community also makes it a popular destination.
Welcoming nature of people:
Whatever the ambiance might be, if the city loses its human touch, the interest in it gets eroded. Airbnb is totally about ‘People Effect’ and Tel Avivians excel in it. Despite their being upscale on fashion and culture they have their feet firmly rooted to the ground. They are always ready to help any outsider with recommendations and directions.
“Is it truly worth your $$$?“
After all, it all boils down to the dollars. As of September 2018, Tel Aviv has 14949 active Airbnb rentals. 5704 of these active listings are instant-book with the average price of Airbnb rentals in Tel Aviv District being $124 per night. Now the question arises.
Is it really worth?
Well, it depends on what you are looking for. If you are looking for cost efficiency and ambiance, then definitely it is worth the dollars you spend.
The increasing popularity of Airbnb is evident from the mind-boggling figures. 800 people rent out 5,000 of the Airbnb apartments in Tel Aviv. In other words, two-thirds out of the total of 8,000 apartments in the city currently offered for short-term rental have now become purely business propositions. Another fascinating statistic was revealed in a survey conducted by the Tel Aviv municipality: The number of rooms rented in Tel Aviv through Airbnb is comparable to the number of hotel rooms and hostel rooms combined.
Airbnb offers an ambiance of a home away from home. It takes you out of the cut and dried ‘ ‘the look-alike’ feature of all hotels. When hotels are fully booked, Airbnb expands the capacity for rooms.”Another factor to be considered is the location. If you wish to be secluded and far from the madding crowds, an Airbnb would be worth it as it would offer you privacy, warmth and focus to concentrate on the agenda you had come there for.
Tourists prefer Airbnb also due to the fact that it is lighter on their pockets. To understand the gravitation of the people towards Airbnb, we need to look at some numbers. Website AirDNA tracks and analyzes the Airbnb market and according to their data, a room booked through the service would only average $187 a night by comparison. That would give you an extra $119 in their back pocket to splurge on all The Big Apple has to offer.
Well, it is not always about a lower price. Sometimes, it is just the quality. You might find a Third Avenue apartment or a haven kissing the beach at a more reasonable price than you would if Airbnb wasn’t an option. Or there may be other amenities like kitchen available on the listings. If you still want to hop in a hotel, the hair wrenching competition helps you hop shop effectively.
So, if you are on a fence regarding the next destination for business or for pleasure, jump it for Tel Aviv. Explore the mosaic, the vibrancy and versatility will rub you… in the Airbnb… way. Weigh the options and find your way…