20% jump in homes in Ireland on AirBnB ahead of crackdown on short-term letting
The number of homes in the Republic advertised for short-term letting on AirBnB has risen by more than 1,000 in the last year.
Homeowners in the Republic appear to be cashing in before a summer crackdown with new figures showing that 5,855 entire homes were available for hire in Galway, Dublin, Cork, Limerick and Waterford on December 11, up 1,015 on the same month last year - a rise of 20%.
Figures supplied by AirDNA, which analyses market trends across the globe, show the average daily rate for a Dublin property now stands at €143 (£130) compared with €126 (£115) in December 2017.
Average daily rates have also risen in Galway, Limerick, Cork and Waterford.
Meanwhile, separate figures have shown that Northern Irelad has become one of its fastest growing tourism destinations for AirBnB in the UK, with 230,000 guests using the service in the 12 months to June 2018. That represented a 70% surge on the 132,000 guests welcomed the previous year. AirBnB and other short-term letting websites allow property owners to advertise a home online for holiday stays.
The figures come in advance of an Irish Government crackdown on short-term lettings, which is due to take effect from next June.
Under the new regime proposed by Ireland's Housing Minister Eoghan Murphy, homeowners will only be allowed to rent their properties for no more than 14 days at a time, and for no more than 90 days a year.
Please log in or register with belfasttelegraph.co.uk for free access to this article.