Listings on Airbnb reach a record of 21.5 thousand in June/ Night stays also double

2024-07-23 09:40:00, Ekonomi CNA

Listings on Airbnb reach a record of 21.5 thousand in June/ Night stays also

Illustrative photo

While in the country there is a debate about why the sunbeds on the beaches are largely empty, it seems that the citizens of Albania and Kosovo are the ones who have "abandoned" the beaches, as they have been their most regular visitors.

Part of the Albanian citizens have fled to emigration (Census showed 420,000 Albanians less than in 2011), while vacationers from Kosovo have more alternatives after the abolition of visas from January of this year.

There are foreign tourists in the country, but they have a different pattern of spending time, not sitting all day in the shade of a tent sitting in one place, but also walking around cities and mountainous areas. The extension of visits throughout the whole year is another phenomenon of foreign tourists.

An indicator that directly measures the performance of foreign tourists in the country is the number of stays in rental accommodation structures, resulting in a significant increase, at least until the end of June.

Data from Airdna, which measures the performance of units of accommodation units that are rented through the Airbnb platform, made available to "Monitor", show that in the first 6 months of the year, the demand for net-stays in these structures is almost doubled.

In total, for the first 6 months of 2024, 412,000 nights were booked in Airbnb structures, with an increase of 97% compared to the same period a year ago. Compared to the first 6 months of 2022, overnight stays have almost tripled.

Only in June, the period that coincides with the beginning of the beach, a total of 140,000 nights were booked through Airbnb platforms, with an increase of 90% on an annual basis.

The data shows an expansion of visits to Albania throughout the year, with overnight stays in February and March increasing by 108%. The record was set by May, where bookings were 118% higher than May of the previous year (see chart Number of nights booked with Airbnb).

21.5 thousand listings in June, those who rent houses reach a record

High demand from tourists for daily rental homes has prompted many home owners to let them out for short periods, removing them from the long-term rental market, causing rents to become more expensive for locals. Rents are about 30-40% more expensive compared to a year ago. In June, the number of listings across the country reached a record 21.5 thousand, according to data from Airdna.

Compared to the same period a year ago, there are 39% more accommodation units for daily rent across the country.

The number of those connecting to the Airbnb platform to rent an apartment has increased significantly over the past two years. In January 2022 there were only about 6 thousand accommodation structures listed on this platform. (see chart: Available listings, January 2022- June 2024).

The average of stays decreases slightly

The average length of stay of foreign tourists according to data from Airdna is an average of 3 nights. Although there was increased demand in the first half of this year, they are staying less. In June 2023, the average number of stays was 3.1, while in the same month of this year it dropped to 2.9.

The longest period of stay is in July and August, with 3.4 and 3.6 nights of stay, respectively, according to data for 2023.

High demand drives up rental prices

In June, the average daily price for an accommodation facility reached $67, up from $47 in January and 10% higher than the same period a year ago. In general, the rent is higher as the season approaches and peaks in July and August. In August of last year, the average rent reached $78, up from $68 in August 2022.

The apartment is occupied at most half the time

If you rent out the house daily, you are not guaranteed to be booked every day, as everything will depend on demand.

Airdna data shows that the maximum occupancy rate reaches about 60% in the peak season in August, which means that out of 30 days, the house provides income for 18 days. The lowest demand in 2024 was in January, with an occupancy rate of 32%, to gradually increase in June, to 51%.

How much is earned per day from renting

If with the monthly rent you have an income of a relatively lower value than if you were to rent it daily, the payment is guaranteed. If you rent the house by the day, you have to consider that its occupation will depend on the demand, you can have it occupied for 30 days, or 3 days, or it can sit empty for the whole month.

Airdna data shows that the daily income per available room (taking into account the daily price and the occupancy rate) fluctuates between 17 euros (mainly in January when both the daily price and the occupancy rate are lower) and the rate at a maximum of 50 euros during August. Translated into a monthly income, if you rent out the house daily you earn on average between 500 and 1500 euros per month. /Monitor