24.08.2022
The Airbnb industry in Cyprus is experiencing a resurgence after more than two years of lockdowns and travel restrictions, as the number of tourist resorts grew by 20% year-over-year in the second quarter of 2022.
According to AirDNA, a well-known and trusted source for vacation rental research providing comprehensive data and analytics on vacation rentals around the world, Airbnb property in the coastal areas of Cyprus has skyrocketed.
The average occupancy of tourist bases was 69%.
AirDNA data shows that 1,438 properties were listed on Airbnb in Protaras in the second quarter of the year, up 29% from 1,191 properties in the same period in 2021.
About 1219 active properties in Protaras have been occupied, the average daily price is 196 euros, and the monthly rental frequency is 63%.
AirDNA estimates that the average revenue from a single Airbnb property is around €2,437 per month.
In the second quarter, Airbnb listed 1,554 properties in Paphos, up 18% from last year. Approximately 1,419 vehicles were rented out at an average daily price of 68 euros.
The rental frequency was 67%, meaning that on average, Airbnb owners in Paphos had €900 extra income.
There are 546 registered properties in Limassol compared to 469 in the same period last year.
A total of 456 apartments were rented out in the second quarter with a rental frequency of 77% at an average price of 77 euros per night. As a result, Airbnb owners in Limassol earned €960 per month.
In Larnaca, the number of properties included in the international platform has grown by 19%, with 1,246 rental properties compared to 1,004 last year.
AirDNA notes that 1,053 people were active in the area with an average daily price of €60 and a rental frequency of 70%, generating a monthly income of €762.
