Bucharest’s short-term rental market had a booming post-pandemic evolution. In 2023 alone, the industry generated revenues of €41.3 million, nearly double compared to 2019.
With an average of 3,942 listings, this translated into an average yearly revenue of 10,500€ and a monthly income of 875€ per property, according to Crosspoint Real Estate.
Supply-wise, there were fewer listings in 2023 than in the pre-pandemic 2019, the growth in income coming mainly from an increase of over 60% in the average daily rate (ADR), to 62€.
With an average of 4,550 listings and revenues of approximately €24 million recorded in the first half of this year, Bucharest’s short-term rental industry is expected to outperform the previous year’s level by more than 25%.
For comparison, with a total annual revenue of €9.3 million in 2023, the performance of the short-term property rental market in Cluj-Napoca is partially influenced by the city’s hosting two of Romania’s largest festivals.