Following the Penang government’s announcement of new local guidelines for short-term rental accommodation (STRA), Airbnb says STRA is important for the growth of state-level and national tourism.
The short-term home stay platform added the global hospitality platform encouraged Joint Management Bodies (JMBs) and Management Committees (MCs) of local strata buildings to consider the long-term economic benefits of STRA, when implementing their own guidelines at an individual building level.
According to the latest Clearpath Strategies survey commissioned by the platform, it found that there continues to be overwhelming support for STRA in the state. Over 7 in 10 (74 percent) Penangites polled said that renting out homes through Airbnb has a positive impact on their community and its residents*.
Notably, the poll found 75 percent of Penang residents polled agreed that short-term rental accommodation should be allowed to take place in surplus vacant apartments, to tackle the property overhang in areas including Penang, Johor, Kuala Lumpur, and Selangor. According to statistics from the National Property Information Centre (NAPIC), Penang has the third-highest number of overhang or unsold residential properties in Malaysia as of the end of 2022, with 3,593 units valued at RM2.74 billion**.
Affordability remains a top priority for Penangites when it comes to travel, with locals polled saying their top concern remains the rising costs of living which are making it harder for people to afford travel*.
Looking ahead, Airbnb is seeing a strong growing interest among Penangites to host or be a guest on Airbnb. The survey revealed that 68 percent of Penangites polled are looking to book stays with the platform, while more than half (57 percent) intend to host on Airbnb in the next year. Over 70 percent polled said they have traveled with, and/or hosted with Airbnb*.
Mich Goh, Airbnb’s Head of Public Policy for Southeast Asia, India, Hong Kong, and Taiwan, said that the latest survey results underscore the increasingly important role that STRA plays as tourism sees a strong rebound across the region, especially in tourism hotspots like Penang, “At the national level, the federal government is developing STRA guidelines that all states can look towards. This may enable more Malaysians to both contribute and benefit from tourism through home sharing.”
