Madrid was the fastest growing market in Airbnb bookings in 2017 and Barcelona loses strength

The average price in Barcelona is 107 euros compared to 81 in Madrid

Madrid was the fastest growing market in bookings in 2017 for Airbnb, the collaborative economy platform that has analyzed some of the main European destinations in which it operates to check its evolution in recent years.

The study shows that tourists continue booking Airbnb accommodation in the main European capitals, where their market share, in terms of overnight stays, has not stopped growing since 2016.

Thus London has gone from 5% in 2016 to 6.9% in 2017, Paris from 13.4% to 15.2%, Amsterdam from 10.7% to 11.8%, Berlin from 5.3% to 6%. , 5% and Madrid from 6.7% to 10.1%, being the city that grew the most last year among all its European rivals.

London is the largest Airbnb market in terms of overnight stays with 6.7 million in 2017, 45% more than in the previous year, just ahead of Paris, with 6.4 million and an increase of 28% in 2017 compared to 2016

Both cities triple the size of the market in Berlin, Amsterdam and Madrid, which is around 2 million overnight stays. However Madrid gets the award for the fastest growing market, 67% more than in 2016.

MADRID, AN AFFORDABLE MARKET

As regards the average daily rates (ADR), Amsterdam has the highest number of the five destinations compared, however London and Paris have a higher price range to suit travelers with higher budgets.

Paris has the most expensive units (above 400 euros per night), while in Amsterdam and London the offer is very even.

Madrid and Berlin are clearly the most affordable markets, with Berlin being the destination with the lowest ADR of the five markets. Both Madrid and Berlin offer rates of less than 50 euros and their high-end rates are also significantly lower than their European rivals.

Regarding the type of accommodation reserved through the platform, one-bedroom apartments are the most reserved option in almost all cities. However, the popularity of private rooms also continues to grow.

MADRID VS BARCELONA

According to the report, Airbnb in Madrid shows a very significant increase in the number of overnight stays in 2017, which grew more than 67% to a total of 2.2 million, obtaining a market share of 10.1.

For its part, Barcelona, ​​although it reached a growth of 15%, accumulating 3 million overnight stays and a market share of 13.2%, this growth is far from the average of the main European cities, showing a market that has reached maturity.

The three most popular neighborhoods for Airbnb customers in Madrid were, Centro, Arganzuela and Chamberi. Together, these neighborhoods represent 72% of all reserved nights. The Airbnb activity in Madrid is very concentrated in the Centro neighborhood, which accounts for 61% of the overnight stays booked.

For its part, in Barcelona, ​​the most popular neighborhoods for Airbnb customers are the Eixample, Ciudat Veilla and Sants-Montjuic. These three locations accounted for 71% of the reservations in the city, while in most of the European capitals, the three main locations receive only 30-40% of the reserves, which denotes, both in the case of the Two Spanish cities, a high concentration of tourists in the downtown area.

In Barcelona, ​​by type of rental property, 52% of the overnight stays went to full apartment reservations and 47% to private room bookings, while in Madrid the percentages are 69% and 31% respectively. In both cities, the percentage of reservations in a shared room is around 1%.

The average prices per night in Barcelona are above those of Madrid in all types of accommodation, from 34 euros for a shared room to 299 euros for a house with 4 bedrooms, compared to the respective 29 euros and 271 euros from Madrid. The average price in Barcelona is 107 euros compared to 81 in Madrid (32% higher).