Development Bank sets up minpaku fund
Some countries and international cities may be banning Airbnb-style accommodation in an attempt to alleviate a housing crisis, but not Japan. With inbound tourism expanding, the government-owned Development Bank of Japan has established a real estate fund to invest in ‘minpaku’ or Airbnb-style short-term accommodation in Japan. This is the first domestic bank to establish this initiative.Read more
8% of short-term ‘minpaku’ rentals close since start of pandemic
According to the Japan Tourism Agency, the number of registered short-term ‘minpaku’ rentals nationwide has dropped from a peak of 21,385 in April 2020 to 19,520 as of March 2021.
Osaka Metro loses millions on minpaku mansion
Osaka Metro Co., Ltd., the operator of Osaka’s metro transit system, has reportedly sold a ‘minpaku’-style short-term letting building at a loss. The apartment building was purchased in 2019 with the goal of opening it to foreign tourists from February 2021, but those plans have been abandoned due to the ongoing international travel bans.
Historic villa in Hayama to open as holiday rental
A historic 1920s villa in Hayama has been restored and will open up as a short-term holiday rental next month.
Osaka sees steep drop in registered short-term accommodations
Almost a third of Osaka’s short-term ‘minpaku’ listings have been deregistered by their hosts since the start of the pandemic.
Some short-term hosts pivot to day-use office rentals
With inbound tourism essentially sitting at zero, some ‘minpaku’ or Airbnb-type accommodation operators are either closing up shop or pivoting into offering telework options in a last-ditch effort to stay afloat in a challenging market.
Number of registered short-term accommodations drop for first time
The number of registered ‘minpaku’ short-term accommodation providers has dropped for the first time since the new system was introduced in June 2018. According to the Japan Tourism Agency there were a total of 21,176 registered properties across Japan as of May 11, down from 21,385 just one month earlier.