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    Pre-Summer Heatwave Leads to Record Occupancy in Europe

    According to AirDNA, demand for travel in Europe this summer is not being stymied by airport delays or inflation; the desire for European short-term rentals is 11.4 percent higher in May than in May 2019, with 31.5 million nights stayed then. Bookings for the summer are running five percent higher in mid-June than in June 2019, although the rates are starting to decline. Average daily rates in May were slightly lower than last year, which can be due to a shift in demand toward smaller units and urban areas, with massive growth in demand for private and shared rooms, and one- to two-bed properties. Occupancy saw a record 53.4 percent Europe-wide in May on account of high demand and low inventory. Available listings were down 4.8 percent from 2019, although this is the closest it has been to pre-pandemic levels since the start of the pandemic. High interest rates could restrain new buyers, while second-home owners may rent out as a source of additional income and to pay mortgage costs. Hungary saw the strongest increase in demand year-over-year in May, with 143.4 percent more nights stayed, while the Netherlands saw 15.7 percent more demand, followed by Switzerland with 29.6 percent, Finland with 32.7 percent, and Britain with 35.4 percent. Meanwhile, the most growth compared to 2019 was in France (43.5 percent), Germany (33.1 percent), and Greece (32.1 percent).

    Short Term Rentalz (06/24/22) Paul Stevens

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