Dublin’s highest earning Airbnb property fetches €230,000 a year – The Irish Times

Dublin‘s highest earning Airbnb property now pulls in €230,000 a year from short-term rentals. New figures from aggregator AirDNA show no drop in registrations on the platform despite government plans to restrict its use through new regulations.

Last October, the government sought to tighten rules on short-term rentals in a bid to boost housing supply. He announced new rules that would require hosts of entire properties on platforms such as Airbnb to apply for planning permission to rent out their properties for three months or more a year.

The new rules, which are due to come into force on June 1, appear to have had little impact so far in limiting the growth of short-term rentals in Dublin.

AirDNA figures show Dublin’s Airbnb market is worth around €10m per month in low season, rising to almost €17m during the summer. This would bring the annual revenue received by Airbnb owners to around 120 to 200 million euros per year.

AirDNA figures are unofficial and should therefore be treated with caution.

The median monthly income is currently €1,997 for an entire property or €880 for a room, falling to €1,143 for the lowest earners and rising to €4,664 for the top 10% earners . Earnings for this top cohort peaked at $6,249 per month during the summer of 2018.

Best properties

While Airbnb said its average Irish host earned around €3,500 a year in 2017, AirDNA’s figures show that earnings from Dublin’s top properties can be significantly higher.

The biggest earner, with estimated earnings of around €230,000 a year, is a six-bedroom townhouse near St Stephen’s Green in Dublin city center which sleeps 15 people. It had an average daily rate of €1,000, according to AirDNA. Figures suggest the townhouse is booked for around 230 nights a year, or almost eight months.

Dublin has an overall occupancy rate of around 61%.

A seven-bedroom property in Portobello is another big earner, also bringing in over €200,000 a year.

Most of the top earning properties on the site target groups and are actually a number of apartments linked together. For example, the second most lucrative “property”, which brings in around €218,000 a year, consists of five separate units in the same building in Temple Bar. With accommodation for 16 people and an average daily rate of €1,010 (or €62.50 per person), it appears to be popular with students and bachelorette parties, based on reviews.

Lucrative rental

Similarly, another lucrative rental, with an annual income of €206,622 per year, is a four-apartment unit in Dún Laoghaire, which also sleeps 16 people. It has an average rate per night of €629, or less than €40 per person if fully occupied.

The figures also show no decline since the government announced the restrictions last October. According to AirDNA, there were around 6,228 active rentals in Dublin on the platform in December, up 1.4% from the same period in 2017.

And many listings are for apartments or houses rather than a room in a shared house. According to AirDNA, about 3,000, or 58% of all listings, are for entire properties.