According to a recent study from Hosbec, Rascanya is the barrio of Valencia with the highest occupancy rate of all.
The capacity gap between hotel accommodation and so-called private accommodation, (saturated mainly around AirBnb platform ) is getting wider and wider. The private accommodation boom shows no signs of slowing down, and according to a recent study by Hosbec, Hospitality industry association from Benidorm, there are around 5.500 tourist apartments in Valencia, with the total capacity to host 22.000 tourists. A total number of beds offered by the hotel industry at this moment stands at 16.000, whopping 35% less. It means that the largely unregulated and uncontrolled private accommodation industry has become a huge generator of money – Hosbec estimates that only in Valencia, AirBnb has invoiced cool 45 million euros last year.
The study is very interesting because it reveals some of the previously unknown information. AirBnb renting has become a proper business model, not an additional source of income for few that had an extra space. Out of 5.500 units on the market, 3.666 were complete flats, and 3.434 belong to professionals who manage more than one property. Around 43% of all the apartments are open year-round, meaning they are bought and used for rental purposes only.
Other interesting information is the geographical distribution of rental properties. Most of the rental flats are in the city center, but, there is a surprisingly high number of AirBnb rentals in other areas, some of them known to be “working class” barrios. Ciutat Vella, as expected, has the highest number or tourist flats, 622, followed by L’Eixample, 388 and Extramurs, 355. Poblats Maritims is also very popular, thanks to the proximity of the sea, with 892 available flats in total, evenly split between Malvarosa and Cabanyal. What is surprising is that AirBnb concept has spread to Quatre Carreres, with 216 flats, Camins Al Grau with 261, and furthermore even to Patraix, Tres Forques and Horta Nord.
The average price for a night spent in private accommodation in Valencia is about 60 euros. The highest prices can be achieved in Horta Nord (Alboraya, namely Patacona beach) where the average price is 77 euros a night. Next is Ciutat Vella with 65 euros, than L’Eixample, 65, Pla de Real, 63, Extramurs, 61. The last suburb on the list is Rascanya, where the average cost of an apartment is around 46 euros a night.
Occupancy rate statistics are also very interesting. Horta Nord (Patacona) has the lowest occupancy rate, at only 28%, which points to the obvious facts that those flats are rented only during the summer. All the other occupancy rate percentages are hovering around 50%, with Poblats Maritims being on the lower side. Ciutat Vella comes in at only 60% occupancy rate, superseded by L’Olivereta, at 64%, L’Eixample at 64%, Pla de Real at 67% and Quatre Carreres with 68%. Rascanya, surprisingly, tops the list with a 71% occupancy rate.
Offered statistics measure tourist activity in 2017 only. In the wake of the current law changes in Valencia, there is a good chance that the statistic for this year will look way different.