Doubtless you have heard many stories about Airbnb. Some true, some a little dubious. Regardless, the platform has revolutionized the short term rental market. The Madrid Airbnb market grew 67% from 2017 to 2018. Do you have questions about whether it is a good idea to make a Madrid Airbnb investment? Here we answer all of your questions.
Airbnb continues to grow and establish loyalty
Since 2o16, platforms and tools for quick short-tem apartment rentals continue to grow without stopping. In many European tourist capitals, Airbnb is supplanting traditional hotel stays. Madrid, London, Paris, Amsterdam and Berlin all have significant numbers of Airbnbs. Due to its limited hotel stock, the Spanish capital has seen significant Airbnb investment. In 2017 alone, there were 2.2 million overnight Madrid Airbnb stays.
Madrid Airbnb investment is secure
Since there are so many Airbnb properties in Madrid, how do you make your Airbnb stand out against the competition? Here is our Golden Tip: Make your apartment unforgettable! If you do this, you will always have high occupancy rates. Renovate your apartment so it “pops” on Airbnb listings. This will maximize the value of your Madrid Airbnb investment.
The best zones for Airbnbs in Madrid
It is very easy to look for an Airbnb in Madrid. Log into the app and search on Madrid, and you will see almost infinite options. Does this mean that your Airbnb will be successful? Not necessarily . . .
Just like we have spoken about the best neighborhoods for buying an apartment in Madrid, there are also best neighborhoods for Airbnb investment. The Center is the best, along with some neighborhoods south of it. Educating yourself about these neighborhoods will help ensure your Airbnb is a success.
What restrictions has the government placed on Airbnb investment?
According to a study conducted by The Hague Hotelschool, although local governments have established clear regulations in the five cities where Airbnb is used most, it is difficult to track compliance due to the lack of data offered by the platform. That doesn’t mean we are recommending you not to comply with local regulations. We simply mean that local restrictions, except in the Barcelona market, are not restrictive.
We do recommend you obtain a tourist license for your Airbnb. That will increase its value and position your property in case the Town Hall of Madrid decides to tighten Airbnb legislation.
CLICK HERE to learn more about the specific Airbnb regulations in Madrid and how to comply with them.