CYPRUS: Managers of Airbnb rentals to form association

Cyprus agents that manage properties for short-term rent on online platforms such as Airbnb are banding together to form an association which will promote the burgeoning sector.

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Talking to the Financial Mirror, Simon Aynedjian a short-term rental property manager, said that agents are organising to promote short term rentals and in the coming months there will be a meeting to create an association.

As he said, managers of properties rented out on a short-term basis, welcome the proposed regulatory framework, while demanding that the state also supports their efforts as they bring in tourists who would not visit Cyprus if not for Airbnb-type accommodation.

Aynedjian confirmed that demand for Airbnb type properties is ever-growing, but did however, question whether this type of property is a threat to hoteliers and their enterprises.

He argued that managers of short-term rental properties refute accusations that they are playing the game with a different set of rules which is handicapping hotels.

“Quite the contrary, these types of properties are bringing more tourists to Cyprus, as they attract tourists who would in no way come to the island to spend their holiday in a hotel,” said Aynedjian.

As he explained, tourists opting for short-term rentals from online platforms are those who do not have the money to stay in a luxury hotel and are looking for a low budget deal, or they simply do not like a hotel environment.