Short-term rentals: a decline across Europe in September, but they are still on the rise in Italia

Restrictions on short-term lettings in many Spanish cities (starting with Barcelona) are leading Spain to rein in the European market for short-term rentals in September, with demand for overnight stays falling (-1.2%). Italia bucked the trend with an increase of 3.5% compared with the same month in 2025. A sign that, after months of extreme heat, many travellers have been waiting for a milder climate to travel to Italy.

The data is provided by AirDna, the sector’s data analytics platform. The increase in Italia is widespread: the nine major cities recorded growth of 3.4 per cent, led by Venice (+17.2 per cent). It was also a very positive month for the regions, particularly Calabria (+18.4%), Trentino-Alto Adige (+13.1%) and Lombardy (+7.3%).

Italia also played a key role in the market’s buoyancy in September, a transitional period between the high and low seasons. Among the 93 European markets with at least 5,000 listings, six of the ten destinations that saw more activity in September than during the summer months are Italian: Turin, Venice, Milan, Florence, Rome and Naples. “All these cities experienced summers characterised by high temperatures: it is possible that visitors waited for the heat to subside before booking a stay,” according to AirDNA’s analysis.

Another significant figure is that, at national level, the volume of overnight stays in September was only 9.7 per cent below the summer average: this is the smallest decline amongst the five main European countries (in Europe as a whole, the decline was 18.3 per cent).

On the other hand, as highlighted in the analysis by AirDna, ‘the European short-term rental market has generated higher revenue with fewer overnight stays’. The ADR (Average Daily Rate) rose over 12 months from €129.49 to €141.02, an increase of +8.9% (inflation in the Eurozone rose to 3.8%). In Italia, growth stood at 9.9%.