Barcelona: Short-term rental data provider AirDNA has released an in-depth analysis revealing the impact that Covid-19 has had on global Airbnb supply.
From January through to June 2020, Airbnb lost five per cent of its total listings but has since bounced back with growth of 2.5 per cent off pre-pandemic levels. The striking difference can be seen at a market level, where an absence of demand in urban centres and global cities has pushed Airbnb hosts to stop renting their properties temporarily or remove them from the platform entirely.
Jamie Lane, vice president of research at AirDNA, said: “The pandemic has drastically changed many established Airbnb trends especially in major Airbnb markets. While supply changes have varied, for the most part shifts directly reflect how the nature of Covid-19 has transformed traveller behaviour.
“As vaccines continue to roll out and pent-up demand accelerates bookings globally, we expect to see supply, growth, particularly in locations that performed best in 2020,” he added.
Key takeaways from AirDNA’s Supply Analysis:
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Airbnb’s supply continues to diversify away from urban areas in the USA, which made up 40 per cent of supply in 2016 to just 20 per cent in 2021.
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Operators with 21+ units increased their available unit counts by more than 14 per cent over the past year, while available listings [the number of active listings that have calendar availability or at least one booked day in the month] declined by nine per cent over the year for single property hosts.
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Collectively, Toronto, Montreal, and Vancouver have lost 22 per cent of their active supply [number of listings viewable on Airbnb with at least one prior booked night] over the past year compared to a decline of just 3.5 per cent throughout the rest of Canada.
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Markets that remained attractive to guests throughout the pandemic, such as Myrtle Beach, Tampa, Morehead City/Emerald Isle and the US Virgin Islands, all experienced significant gains since the start of the pandemic.
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Cities such as Amsterdam, Copenhagen and Oahu, are likely to see faster rebounds in supply due to relatively low changes in active listings.
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Markets including New York, Toronto, and Beijing all have significant declines in both active and available listings suggesting that these declines are more likely to be permanent.
