Dublin Airbnb market recovering at much slower pace than other Irish cities

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As Ireland enters phase two of reopening, the Airbnb market in Dublin recovering at a slower pace than other Irish cities.

Dublin Live has learned that bookings for short term rentals across the capital rose by just 14% in the four weeks after hitting their lowest point during the lockdown in April.

Meanwhile, Airbnb bookings nationally more than doubled during the same period.

The week ending 23rd May 2020 saw 6,099 new reservations for properties in Ireland on the site – a rise of 118% on the week ending 18th April when there were a rock bottom 2,799 new bookings.

A total of 811 bookings were made for Dublin properties in the week ending 23rd May compared to 713 in the week ending 18th April.

The figures also show that 1,500 Irish hosts pulled their properties from the short term rental platform during the lockdown with the number of active listings falling from 14,410 in January to 12,900 in April.

Sinn Fein’s housing spokesman Eoin O Broin said he was disappointed that the drop in activity has not resulted in a rise in long term accommodation for homeless Dublin families.

He told Dublin Live: “There has not been a significant increase in properties in Dublin moving from the short term into the long term rental market – we’re talking hundreds rather than thousands.

“The fact is we still have thousands of people short term letting homes in rent pressure zones who have no planning permission.

“We need legislation that will see fines imposed on short term rental platforms for hosting these properties.”

The capital is ahead of Limerick – the only Irish city where bookings on the short term rental platform are lower than they were this time last month, according to exclusive data from short term rental analytics site AirDNA.

The week ending 23rd May saw just 83 new bookings across the Treaty County – a drop of 23% on the week ending 18th April, when 108 new reservations were made.

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At the other end of the scale, bookings shot up by 83% during the same period in Cork, which is recovering quicker than any other Irish city.

Our latest data probe reveals there were 752 new bookings across the Rebel County in the week ending 23rd May.

Following Cork is Waterford, where weekly bookings rose by 77% from its lowest point of 88 in the week ending 18th April to 156 in the week ending 23rd May.

Kilkenny saw a modest 29% growth during the same period while bookings in Galway rose by 39%.

Source: Dublin News