AirDNA: 2022 ends on high note for European short-term rentals
Europe: Short-term rentals in Europe ended 2022 on a high for strong demand, with 10.2 per cent more nights booked than in December 2019 and 47.4 per cent more than in 2021, and revenue up 38.5 per cent, according to short-term rental data and analytics provider, AirDNA.
The supply of available listings only rose 13.8 per cent year-over-year, pushing occupancy up to historic highs for December.
2022 was a year of recovery for the short-term rental industry in Europe, which saw 355 million nights booked – 39 per cent more than in 2021, and even three per cent higher than in 2019. This brought in over $55 billion in bookings.
The average supply of available listings sat at over 2.5 million, up 11.2 per cent from 2021, but still below 2019 figures by 7.4 per cent. As demand outpaced supply growth, occupancy grew quickly, up 6.9 per cent from 2021.
Year-over-year demand recovery was strongest in Hungary [+62.1 per cent], Portugal [+60.2 per cent], and Norway [+59.4 per cent], while occupancy increases were strongest in Portugal, Hungary, and the Czech Republic. In a tough economic climate, it was clear that guests preferred more economical options, with occupancy growing fastest in smaller, urban apartments and particularly in the budget and economy tiers, without luxury amenities such as hot tubs and pools.
Looking out to the next few months, the recovery should continue, reports AirDNA, with bookings for the first half of 2022 already 25.9 per cent higher than at the same point last year.
Although 2022 was a strong year for holiday lets in the UK, the full reopening of borders meant many travellers chose to go abroad again, leaving nights stayed in through the year four per cent below 2019 figures. Nonetheless, 42.5 million nights were stayed in last year, up 34 per cent from last year.
On the other hand, guests in France did not disappoint – rental travellers booked over 86 million nights in 2022, 26 per cent more than in 2019 and 29 per cent more than 2021.