Dublin’s most lucrative Airbnb property brings in € 230,000 per year
Dublin‘s highest paying Airbnb property now earns € 230,000 per year in short-term rentals. New figures from the AirDNA aggregator show no decline in registrations on the platform despite government plans to restrict its use through new regulations.
Last October, the government sought to toughen rules on short-term rentals in an attempt to boost housing supply. He announced new rules that would require hosts of entire properties on platforms like Airbnb to apply for a building permit to rent their properties for three months or more per year.
The new rules, which are due to take effect on June 1, appear to have had little impact so far in restraining the growth of short-term rentals in Dublin.
AirDNA figures show that Dublin’s Airbnb market is worth around 10 million euros per month in low season, reaching almost 17 million euros in summer. This would bring the annual income received by Airbnb owners to around 120 to 200 million euros per year.
AirDNA figures are not official and should therefore be treated with caution.
Median monthly income is currently € 1,997 for an entire property or € 880 for a bedroom, falling to € 1,143 for the lowest incomes and rising to € 4,664 for the top 10%. . The turnover of this first cohort reached a peak of € 6,249 per month during the summer of 2018.
While Airbnb said its average Irish host was making around € 3,500 per year in 2017, AirDNA figures show that revenues from top properties in Dublin can be much higher.
The main source of income, with an estimated income of around € 230,000 per year, is a six bedroom townhouse located near St Stephen’s Green in Dublin city center, which can accommodate 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 nearly eight months.
Dublin has an overall occupancy rate of around 61 percent.
A seven bedroom property in Portobello is another important source of income, also bringing in over € 200,000 per year.
Most of the top earning properties on the site target groups and are actually a number of connected apartments. For example, the second most lucrative “property”, which earns around € 218,000 per 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 seems popular with students and bachelorette parties, according to reviews.
Likewise, another lucrative rental, with an annual income of € 206,622 per year, is a four-apartment unit in Dún Laoghaire, which can also accommodate 16 people. fully occupied.
The numbers 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 most of the listings are for apartments or houses rather than a room in a shared house. According to AirDNA, approximately 3,000, or 58% of all listings, are for entire properties.