Rates and Travel Patterns Normalize in Record Summer for European Short-Term Rentals

AirDNA reports that the European short-term rental market witnessed a full recovery from the pandemic in the summer, with 3.5 percent more nights stayed in such accommodations in June, July, and August than in 2019. Demand also topped 2019 levels in August, with revenue up 22 percent from 2019. Average rental rates were just 1.2 percent higher than in 2021, as growth slows and bookings return to urban apartments and smaller properties which typically cost less. Occupancy rose 4.3 percent year-over-year to 76.5 percent in August thanks to strong demand and low supply, while available listings remain 10.8 percent below the same period in 2019. All of the top 20 European nations saw year-over-year growth in summer demand, with Norway, Hungary, and Greece seeing the biggest increases. Visitors booked stays an average 72.9 days in advance in August, which is 6 percent closer to arrival than in 2019 but 11 percent longer than 2021. Bookings for the remainder of the year are trending 6.6 percent higher than at the same time in 2019.

Travel Daily News (09/22/22) Tatiana Rokou

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