AirDNA
Vienna [Credit: Jacek Dylag on Unsplash]

AirDNA: Supply in Europe reaches pre-pandemic levels

Europe: As economic news remained fairly positive in January, European short-term rental demand had a strong month, with 18.1 per cent more nights stayed than January 2022, and a huge 28 per cent more than in 2019, according to data and analytics provider, AirDNA.

This extended seasonality pushed occupancy up five per cent from last year and six per cent above pre-pandemic levels.

Occupancy increased in 14 of the top 20 countries, with the highest growth in Portugal [+19.8 per cent year-on-year], Austria [+16.9 per cent], Czechia [+12 per cent] and Greece [+10.4 per cent], though Norway took the lead for nights stayed [+55.2 per cent], against a backdrop of stronger supply growth.

Meanwhile, available supply at the European level surpassed 2019 levels for the first time since the pandemic began, with 4.7 per cent more properties online in January than in January 2019.

Looking more closely at property types, unique stays have consistently been the top category for demand growth since 2019, with 100.3 per cent growth in nights stayed in January 2023 vs. 2019, as well as supply growth of 38.8 per cent vs. 2019, though they still only make up 2.9 per cent of total available listings. Apartment-type properties remain 0.3 per cent below pre-pandemic figures, but the growth in supply can mostly be attributed to houses and villas, which grew 12.8 per cent.

January is typically a big month for new bookings, as guests get their plans fixed for the spring and summer, and this year did not disappoint. Demand nights on the books for the next six months are pacing 24.4 per cent above 2022 and 32.6 per cent above 2019.

AirDNA reported that Austria is leading the way for future bookings with 55 per cent growth from last year, followed by Poland [+53.9 per cent] and Portugal [+53.8 per cent]. This is particularly impressive for Poland and Portugal, where 2019 levels of demand were already already surpassed in 2022.

Relative to 2019, Germany is in the lead with +84.2 per cent demand nights, ahead of Austria with 79.7 per cent and Finland with 62.5 per cent.

The full AirDNA report can be read at this link.

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