Vacation rentals in Europe rise at the end of the year

28-12-24

The end of the year season has brought with it a notable increase in the prices of vacation rentals in Spain. According to data from eBooking.com, bookings for this Christmas season have experienced an increase of 14% over the previous year.

This increase is in addition to the trend observed during the summer, where renting an apartment on the beachfront meant an average expenditure of 1,160 euros per week, 10% more than in 2023.

This increase in price is attributed to several factors. On the one hand, inflation has impacted on the maintenance costs of properties, which has led 46% of owners to increase the prices of their vacation rentals

On the other hand, high demand, both domestic and foreign, has kept upward pressure on prices, with bookings being made months in advance

Price differences between destinations are also significant. While in locations such as Santanyi, Ibiza and Pollensa rents exceed 3,000 euros per week, in more affordable areas, such as certain locations in the Valencian Community, prices do not exceed 500 euros.

In addition, it has been observed that in cities such as Madrid and Barcelona, the proliferation of tourist rentals has contributed to the increase in the real estate market, reducing the supply available for residential rental and raising prices.

This context has led authorities to implement regulations to balance the market. For example, in Catalonia, price regulation has resulted in a 0.9% decrease in rents in municipalities applying these measures, while in those without regulation, prices have increased by 6.1%.

Likewise, platforms such as Airbnb have expressed their concern about the new regulations, arguing that they might not solve the housing crisis and could lead to an increase in rental prices

The vacation rental market in Spain is experiencing a significant rise in prices, influenced by economic factors, high demand and government regulations. Travelers should take these dynamics into account when planning their stays, considering both the available budget and the specific characteristics of each destination.

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