Wednesday, November 9-15, 2022 - // no. 185
Puerto Rico and the Caribbean
www.theweeklyjournal.com
Women evaluate the workplace P6 Job report anticipates interest rate hike P8 Congress could still help Puerto Rico P10
The evolution of the
short-term rental
STRs have evolved into a regular tourist offer
Should colonial cats be Eradicated?
P15
S
Juan A. Hernández, The Weekly Journal
hort Term Rentals (STRs) have been growing throughout the island at such an accelerated rate that some have come to argue that they are causing a disruption in the real estate market by almost canceling all other forms of rental, particularly in the affordable housing range. A study conducted by business consulting firm ABEXUS Analytics reveals that, as of June 2022, there were 17,138 STRs operating throughout Puerto Rico. That is 15,696 more than in 2014, when only 1,442 were in operation.
The number of STRs have multiplied by more than 10 in less than a decade. “The main finding [of the study] is not only that STRs have continued to grow, but that their growth since February 2021 has been amazingly fast. Since then, between 6,000 to 7,000 units, approximately, have been added to the industry. This is a very high growth rate, when compared to the previous growth,” said Kevin González Toro, ABEXUS CEO. González Toro pointed to the industry’s health and resiliency after facing the COVID-19 pandemic, during which it experienced a significant reduction GO TO PAGE 4