Demand for short term rental accommodation in Europe was high this August, with cheaper destinations leading the way followed by the cooler Nordic countries.
According to AirDNA data, this summer, 7 of the top 10 countries with the highest annual growth in STR stays were lesser-known destinations where average nightly rates are below €100. Kosovo, Moldova and Albania led the way, with demand in each of these countries increasing by more than 50% this summer.
Demand for travel to more popular European destinations also remained strong, with the Nordic countries continuing to lead the way. Norway, Sweden, Finland and Denmark all saw demand for short-term rentals increase by more than 25% this summer.
Demand for short-term rentals in Greece this summer was 18% higher than last summer.
Cities such as Barcelona, Amsterdam and Paris stood out with strong occupancy rates and ADR growth, benefiting from major events and limited supply.
In many countries across Europe, record demand yielded high occupancy rates for hosts, allowing for increased rates.
- From June to August, occupancy averaged 67.2%, an increase of 2% YoY
- Average Daily Rates (ADR) increased by 4% YoY, reaching an average of €174.
- Summer revenue per available rental (RevPAR) increased 6% per year to an average of €117 per night.
In Greece, occupancy reached 70% during the summer quarter, with ADR at €214 and RevPAR at €150.
In Athens, occupancy reached 69%, with ADR at €113 and RevPAR at €78.
August in numbers
The short-term rental sector’s performance in Europe this August was particularly elevated:
** Available listings totalled 4.08 million, up 15.8% YoY
** Demand in Europe reached 64.2 million, up 21% YoY
** Average daily rates (ADR) were €177, up 5,7% YoY
** Average occupancy was 73%, up 3.3% YoY, and up 5% from 2019
** Revenue per available rental (RevPAR) increased 9.1% YoY to €130
** Overnight bookings increased 19.5% YoY
Upward trend to continue
The pace of demand suggests that the positive performance will continue in the coming months.
Bookings are currently up 18% in October, 15% in November, 16% in December and 7% in January. 
In high demand this season are more Central European countries, with Finland leading the way: +39% YoY Austria: +36% , Hungary: +36% and the Czech Republic: +34%.
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