Global Vacation Rental Market

Global Vacation Rental Market Size, Share, Growth Analysis, By Accommodation Type(Home, Apartments), By Booking Mode(Offline, Online) - Industry Forecast 2024-2031

Report ID: SQMIG25P2014 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 63 | Figures: 75

Global Vacation Rental Market Dynamics

Vacation Rental Market Driver

  • Increasing popularity of travel and tourism: The global travel and tourism industry is booming, and people are increasingly choosing to take vacations instead of staying at home. This has led to an increase in the number of tourists who want to stay in vacation rentals instead of hotel rooms.
  • Increased affordability: Renting a vacation home is much cheaper than staying in a hotel room. This is due to the fact that you can usually find rental properties that are well-maintained and offer a lot of amenities, such as pools and tennis courts. As a result, vacation rental market is witnessing a strong growth in the market revenue.
  • Increased accessibility: Vacation rentals are becoming increasingly popular because they are now easier to find than ever before. There are now websites and apps that allow you to find rental properties quickly and easily. This means that you can book your vacation accommodation without having to spend hours searching through listings.

Vacation Rental Market Restraint

There are a number of different restraints that can impact the vacation rental market.

  • One of the most significant is the availability of properties. If there are few properties available for rent, then prices will be driven up and it may be difficult to find a place to stay.
  • Another restraint is the cost of renting a property. If prices are too high, then people may be less likely or willing to take a vacation. Additionally, if there are many restrictions placed on rentals (e.g., no smoking, no pets, etc.), this can also limit the number of people who are willing to rent a particular property.
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Global Vacation Rental Market size was valued at USD 74.64 billion in 2019 and is poised to grow from USD 82.63 billion in 2023 to USD 119 billion by 2031, growing at a CAGR of 5.3% in the forecast period (2024-2031).

In a time when the vacation rental market is tight and landlords are eager to find new tenants, some companies are looking to take advantage of the situation by offering vacation rentals. The rental market has tightened up considerably as a result of the covid pandemic, but it’s also become much more competitive. There are many more rental properties available now than there were five or six years ago. Today, companies are taking every possible step to improve their market share and market revenue. For instance, McCarthy Properties offers its guests 11 different types of vacation rentals from condos to houses that can accommodate up to 16 people. 'Airbnb Inc.', 'Booking.com', 'Vrbo', 'TripAdvisor', 'HomeAway', 'Expedia Group Inc.', 'Agoda', 'FlipKey', 'Wimdu', 'OneFineStay', 'HouseTrip', 'Luxury Retreats', 'Interhome', 'RedAwning', 'TurnKey Vacation Rentals', 'Vacasa', 'Wyndham Vacation Rentals', 'Natural Retreats', 'GuestHouser', 'Stayz'

Increasing popularity of travel and tourism: The global travel and tourism industry is booming, and people are increasingly choosing to take vacations instead of staying at home. This has led to an increase in the number of tourists who want to stay in vacation rentals instead of hotel rooms.

Growth in private rental demand from international travelers

Europe has the largest tourism industry in the world and is holding largest share of the global vacation rental market. Every year, millions of people from all over the globe flock to its shores in search of sun, sand and sea. And with so many tourists come an extreme demand for rental accommodation. In recent years, the rise of Airbnb has made it easier than ever for travelers to find a place to stay in Europe. However, this has also led to a sharp increase in rent prices, as landlords can now charge whatever they want for their properties. This is especially true in popular tourist destinations such as Barcelona, Paris and Amsterdam, where rents have soared to astronomical levels. In some cases, a one-bedroom apartment can cost upwards of €1,000 per month!

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