A record increase in demand for short-term rentals was recorded in May 2024 in Europe.
According to AirDNA data, demand this month increased by 24% compared to the same month in 2023. The increase pushed occupancy rates to their highest since August at 57%.
Average daily rates (ADR), on the other hand, rose modestly by 2.2% YoY to €166.
AirDNA points out that despite a 16% increase in bookings, strict STR regulations in cities such as Barcelona, Lisbon and Rome are still preventing a full supply recovery,
+18% demand for Greece and Europe during the summer months
According to AirDNA data, short-term rental bookings in Europe over the next six months are up 18%. In particular, an 18% increase is recorded in the summer quarter from July to August and a further 18% from September to October.
The average increase for Europe and for Greece in the summer quarter is 18%.
The countries below recorded the highest YoY increase in demand from July to October:
Poland +33%
Norway +29%
Germany +28%
Czech Republic +27%
For those who want to travel off the beaten track and cheaply this summer, here are four up-and-coming destinations. Increase in demand for short-term rentals in these countries from July to September is soaring this year:
Kosovo +76%
Albania +66%
Bosnia and Herzegovina +58%
Moldova +49%
At a glance the performance in May for short-term rentals in Europe:
** Available listings increased by 16% YoY
** Demand for short-term rentals reached 40.4 million, up 24% YoY
** Average daily rates (ADR) increased 2,2% YoY to €166
** Occupancy increased by 6% YoY and increased by 8.1% compared to 2019
** Revenue per available rental (RevPAR) increased by 8.3% YoY to €95
** Overnight bookings increased by 20.3% YoY
The entries
In May, available listings in Europe reached 3.6 million, up 16% YoY.
Overall, available listings in Europe are now 21.7% higher than in 2019.
However, not all European countries have seen the same upturn in supply.
Five countries haven’t bounced back and still have fewer listings than in 2019.
Supply over the past year has been between 1% and 25% lower than 2019 levels in:
Hungary -0.3%
Netherlands -2.2%
Czech Republic -14.9%
Ireland -17.1%
Croatia -25.3%
In these countries, lack of demand has contributed significantly to the slower supply recovery.
Due to restrictive measures in Italy, Spain and Portugal, although demand has increased, registrations are growing at a slower rate. Demand has increased by 11% to 22% in these countries, but available listings have increased by less than 7% since 2019.
