Latest / STR Unpacked / All Of It Was Rate
Transcript
- Ben: Morning and welcome to your short-term rental bulletin. it's Friday, so we're going to do a week review of this week's news. So the short the European short-term rental revenue rose again in August. basically all of it came from the rates. So to dive into it a little bit, AirDNA has published its monthly European review on the 15th of September. And we're seeing the red part up 4.3%. To 112.74. Average daily rate is up 7.5% to 160 euros 10. But occupancy is down 2.1 percentage points, averaging at 70.4%. And demand nights is down 3.1% to 66.4 million nights. So obviously, rate times occupancy gives you the red part of rate. Discount through August, and you went backwards while the whole market moved forwards. So Spain is actually where the supply went. So AirDNA's country table covers the summer from June to August. Spain, 393,532 available listings. Now that is down 10.7%. Spain and Germany accounted for nearly all of the region's demand. decline. Now let's look at Irena's August figures because this is also an interesting story. 34,890,784 passengers through Spanish airports, up four point seven percent. So arrivals up, Spanish supply down ten point seven percent. So that's not a demand problem, right? So meanwhile in other things that happened this week you've got Vigo in Spain started Charging its tourist tax on the first of October, 13 days away. The council passed the ordinance on the 7th of September. Belicia Press and Hispania Radio report the bans at the same way. La vivienda de Uso Turístico pays 1 euro forty-six plus V18. So 1 euro 60 per person at a night. And La Vienda Touristica or And the Bad Demento pays 73 cents plus VAT, so around 80 cents. Same city, double the rate. Also, Ireland opens up its national register on the 1st of December, 74 days away, and every host must be on it by the 31st of December. Short-term letting there means stays of up to 21 nights. Now the planning limb is where The money is in towns of over 20,000 people, you confirm planning compliance at the moment you register with no leading. Under 20,000, and you get two years. Where a dwelling has been continuously for short term letting for at least seven years with no enforcement action. There is a presumed presumption in favor of granting permission. One caveat Fuzda Island page still says registration not open. that it waits on legalization and the fee is unpublished. So seven years of unbroken trading is now a planning assist in I in Ireland and rate discipline is what paid in August. So that's the week. Thank you for watching and I'll see you next week.