In 2014, the number of active homeshare listings in Vietnam was said to total around 1,500, but has now ballooned to about 40,000, according to Grant Thornton’s Vietnam hotel survey.
Economic prosperity for Vietnamese people and rising tourist arrivals has led to those with a home or a spare room to look to how to benefit. But hosts are already seeing prices dropping by 50% over the last couple of years as supply grows.
Locally homestay rules are lax, making it easy for Airbnb hosts to enter the market by registering as a household business. Airbnb and Booking.com are the two major homesharing distribution channels along with local option Luxstay.
There is however an impending 40% increase in hotel room supply, with a pipeline of over 40,000 keys in three-star to five-star rooms, and this doesn’t include hostels or serviced apartments, so the accommodation pool is actually bigger.
According to Luxstay, homesharing will account for 10-20% of Vietnam’s accommodation by 2025.