Airbnb takeover?

• January 08 2020
• http://www.jamaicaobserver.com/business/Airbnb-takeover%3F

DO you remember what Kingston looked like in 2010? Kingston's skyline has changed over the years, with going up everywhere.

Interestingly, the start of 2020 also marks the integration of an entire generation, “Millennials or Generation Y” (people born around 1981 – 1995) into the workforce.

Joining the workforce is an important stage in a young adult's life when independence becomes paramount, and 'getting my own place' becomes a frequent topic over lattes and unsweetened mint tea.

Unfortunately, as many young professionals see these new and attractively designed apartment complexes go up, they are subjected to only scrolling through images of apartments that they cannot afford to rent, much less purchase. But why is this so?

The high rental rate and high prices for these modern apartments, in Kingston at least, is not a novel topic and these prices have remained high for some time.

The demand for these expensive units has kept the prices high and as more complexes go up, the greater supply has not caused the prices to drop.

The question therefore is where is the demand coming from?