Is it profitable to do Airbnb in Geoje, South Korea?
What is the occupancy rate of Airbnb in Geoje, South Korea?
What is the average daily rate of Airbnb in Geoje, South Korea?
South Korea / Geoje
Geoje, Airbnb Market Statistics & Data, South Korea
A typical short-term rental listing in Geoje is booked for 110 nights a year, with a median occupancy rate of 30% and an average daily rate of KRW118,428. In 2023, a typical host income (annual revenue) was KRW13M. As of 12th September, 2024, there are 1,286 active Airbnb listings.
Average Revenue: KRW13M/yr
Occupancy Rate
30%
Avg Daily Rate
KRW118,428
Budget
No. of Listings
1,558
Medium
YoY Revenue Change
-4.93%
Best Month
August
** Period: 2023 Aug - 2024 July | Last Updated on: 12th September, 2024
Revenue By Month
2023-08 - 2024-07
Low
KRW774,911
Average
KRW1,124,776
High
KRW2,016,030
Is Airbnb Profitable in Geoje?
No, there is good short-term rental demand. A 30% median occupancy rate is considered a good market for Airbnb. The graph below shows the average monthly host income by month.
Tip! investing in a short-term rental can be highly stable and profitable. It’s stable because housing has been one of the most stable asset classes. Also, when you can’t do an Airbnb anymore, you can still rent it out to a long-term tenant with a lower yield. It is highly profitable because the monthly cash flow from short-term rental investment typically is double the amount of traditional rentals.
Starting an Airbnb in Geoje
Short-term rental regulation is lenient in Geoje. Very few Airbnb listing currently have put their license number on their Airbnb listing. This likely means the local government is not strictly enforcing the short-term rental-related regulations.
We made a guide on things you need to know before starting an Airbnb in South Korea, learn how much it costs to start an Airbnb and if it’s profitable to start an Airbnb.
Average Airbnb Occupancy Rate in Geoje
A typical listing recorded a 30% average occupancy rate between 2023-08 - 2024-07. In this graph, you can see the occupancy rate distribution. About 12.67% of the guests are international guests, and visitors from South korea is the largest group. Learn more about guest origin!.
You can find the distribution graph of daily rate and revenue in our market dashboard.
You can find the distribution graph of daily rate and revenue in our market dashboard.
Occupancy Rate: 30%
1,286 Active Listings
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Explore Geoje's Airbnb Data ⟶
Best Areas in Geoje for Airbnb
Are you wondering where to invest in Geoje? Look no further!
Top demand Airbnb in Geoje
Airbtics has been tracking all Airbnb listings since 2019. This allows us to understand interesting metrics, like which properties earn the most in the market. Here are our top picks. Go to the app to find detailed information about 1,286 listings.
See 1,286 listing Statistics
Professional Short-term rental property managers in Geoje
We've compiled a list of host profiles that manage the most Airbnb properties in Geoje. The dashboard shows their average occupancy rate, revenue, and year-over-year changes.
Other short-term rental market data in Geoje
Here is a breakdown of short-let properties in Geoje. You might wonder about more specific data before buying an Airbnb property. For example, how much can an average listing with 4 bedrooms and a pool make? Or, what is the seasonality in booking? When is the peak month? Click the below button and check out more in-depth vacation rental data for free.
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