Eurovision
[Credit: Eurovision / AirDNA]

AirDNA: Malmö sees occupancy and demand surge for Eurovision

Sweden: Malmö’s short-term rental market saw a surge in demand and occupancy as the city hosted the 68th Eurovision Song Contest last weekend, according to short-term rental data and analytics provider, AirDNA.

More than 100,000 Eurovision fans converged on the city to witness Switzerland’s victory on Saturday [11 May], of which many were lucky enough to secure a ticket for one of the live shows, which stretched across two live semi-finals and culminated with the Grand Final. It was also the third time that Malmö had hosted the event in the competition’s history, and coincided with the 50th anniversary of ABBA’s success in 1974.

In the lead-up to Eurovision, Malmö’s short-term rental market was showing significant shifts in occupancy and demand, but other nearby cities also benefitted from the uptick in tourist numbers.

As the host city, Malmö’s occupancy rate soared to 59 per cent during the event, rising from 30.8 per cent the previous week and compared to 30.1 per cent during the same week the prior year.

Lund took the lead with a 61 per cent occupancy rate during the Eurovision week, a sizeable increase from 35.7 per cent the week before and nearly twice the 34.0 per cent occupancy rate during the same week in the previous year.

The town of Burlöv showed impressive growth with a 58 per cent occupancy rate during the Eurovision week. This was a significant increase from the previous week’s 39.2 per cent, though slightly down from 41.8 per cent during the same week the previous year.

The figures were strong indicators of a high-demand market, yet they represent a balanced response to the influx of Eurovision attendees, not an overwhelmed system.

Demand nights painted a similar picture of growth in towns near the heart of the action, indicating the region-wide excitement and anticipation surrounding Eurovision.

  • Staffanstorp led with a striking 222 per cent increase in demand nights
  • Lomma’s demand nights rose by 147 per cent
  • Malmö itself saw a 136 per cent increase

 

Meanwhile, week-over-week supply growth during Eurovision week illustrated a more subdued but significant increase in short-term rental listings across various cities. The growth indicated that while demand spikes, the supply was also expanding, though at varying rates across the region:

  • Lomma led with substantial supply growth, nearly reaching 60 per cent, showcasing a robust response to the heightened demand.
  • Malmö, despite being the host city,  showed a more measured increase in supply of about 20 per cent, which might reflect a more saturated or already well-developed market compared to its neighbours.
  • Trelleborg displayed the least growth, under ten per cent, suggesting a smaller capacity for expansion or lesser demand relative to other areas.

 

Short-term rental rates were significantly higher during Eurovision week. The average rate jumped to €149 – well above the 12-month average of €109 – highlighting the market’s proactive adjustments to capitalise on the heightened demand.

Fans who booked early secured accommodations at rates well below 150 euros, with average booked rates for all short-term rentals in Malmö increasing by six per cent on the previous week in the build-up to Eurovision.

Conversely, those booking at the last minute encountered steep prices, with rates more than doubling to exceed 320 euros per night. The discrepancy between booked and available rates continued to grow as the event approached, with booked rates peaking at 143 euros and available rates soaring to 385 euros by 11 May.

In terms of supply, the number of active listings surged, comparing figures in May to the listing average in March 2024:

  • Lomma saw a striking 233 per cent increase in active listings from a 151 average to 502 listings for Eurovision dates.
  • Malmö showed a robust growth in its supply with a 184 per cent increase, rising from a listing average of 3,078   The host city already boasted a listing average of 3,078 and added approximately 5,000 more for the big event.
  • Vellinge demonstrated a significant supply expansion of 200 per cent for a total of 2,537 short-term rental properties, quadrupling its average of 845 listings.

 

Read the full AirDNA Eurovision report at this link.

Be in the know.

Subscribe to our newsletter »