Short-Term Rentals Grow as Business Trips, Workations and Foreign Stays Rise

The short-term rental market is growing as demand rises from business trips, workations, month-long stays and foreign residents. Unlike traditional rental demand, more users are looking for housing only for a set period, which is cited as a key background to the market’s expansion. Workations that combine work and travel, demand for monthly living arrangements, and an increase in foreigners staying in Korea are presented as factors strengthening the short-term rental trend. Demand for short-stay housing is expected to remain a key market focus. Source: hankyung.com