AirDNA shows strong Summer on the way for European short-term rentals

Pushed by a revitalized confidence in travel, demand for European short-term rentals in April rose 3.0% higher than in 2019 (+97.4% vs 2021), with more than 27.7 million nights stayed in the month, driving European occupancy to hit a record high (55.4%). 

According to AirDNA, in April 2022, the 50 largest markets in Europe saw 169.1% more demand than last year, vs. 87.4% in all other markets. The largest growth across all markets was in private room properties: private rooms show a 121.5% growth from last year, vs +94.4% for entire homes, which pushed ADRs down as private rooms and shared rooms typically charge less.

While still 8.2% below April 2019 levels, supply of available listings in the month was up 6.1% year-over-year as hosts are capitalizing on the opportunity to service growing demand by adding listings to the market.

Big y-o-y winners in April 2022 were Hungary (+188%), Portugal (182.2%), and Greece (172.7%), while the lowest year-over-year gains were in Belgium (41.9%), Switzerland (28.9%), and Finland (16.3%). 

France (+26.4%), Germany (23.4%) and Greece (+19.4%) had the highest growth from pre-pandemic, and nine of the top 20 countries received more nights booked than April 2019. Meanwhile, the Czech Republic (-47.1%), Hungary (-35.2%), and Ireland (-27.5%) remain well below their 2019 figures.

ADRs have stabilised at 1.3% below 2021, though still 24% higher than pre-pandemic. 13 of the top 20 countries saw lower rates than last year, though rates in Denmark (+13.6%), Poland (+8.8%) and Germany (+4.4%) continued to increase.

Bright summer outlook
As of May 9th, the European continent is pacing +82% for the summer (June-September) from the same time last year, and +2.6% from 2019, with all top 20 countries up from last year such as Greece (+237.3%), Croatia (+209%) and Portugal (+200%).

Pacing in the 50 largest markets is up +227% from last year, with the strongest increases in Porto, PT (532.3%), Venice, IT (414.8%), and Florence, IT (410.4%).

Rates for the summer are up only 0.1% across Europe, so looking similar to last year: the highest increases are in Denmark (+15%), Germany (+8%) and Poland (+8%), while rates in Finland are down 25%. Larger cities like Barcelona (+33%), Belgrade (+31%) and Munich (+27%) are seeing the largest increase.