Magazine

The city of Valencia has not been immune to the Airbnb phenomenon and the boom in tourist apartments. More and more tourists choose to visit the capital of the Turia (an 18% year-on-year increase, in international tourists alone), and they increasingly opt to look for accommodation in tourist apartments. This increase in demand has meant that more and more properties are being listed on portals such as Airbnb, Booking or HomeAway.

According to our data (June 2017), more than ten thousand properties have been registered on Airbnb, most of them entire properties, a trend that will keep rising if we look at the evolution over recent years: 4,064 new listings in 2016, compared with 2,149 in 2015 and 952 in 2014.

Of the various options offered by Airbnb (renting a whole home, a private room or a shared room), the number of private room listings (4,279 of the total) stands out, providing an average income of €992 per year.

Regarding the rental of entire tourist apartments, we can see that there has also been a sharp increase in advertised properties (registrations have almost doubled those made in 2015).

This increase in properties has caused signs of exhaustion to begin to appear, and the occupancy rate of certain types of apartments is starting to suffer.

It is important to take a great many factors into account when setting up a tourist apartment. It is necessary not only to carry out a market study, but also to forecast the evolution of supply and demand in order to try to predict variables such as the occupancy rate and the estimated average income.

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Brickstarter is a real estate investment platform specialized in tourist apartments. (If you want to stay up to date with all our publications, don't forget to sign up for our newsletter).