This summer, the Italian short-term rental market underwent structural adjustments, with rising prices, tax pressures, and platform cost losses emerging as the core factors impacting industry performance. According to statistics, both the number of short-term rental listings and occupancy rates declined between June and August, with some regions experiencing pronounced drops. Investment Analyst Rodolfo Villani notes that market differentiation is increasingly evident, as tourism hotspots, commercial cities, and seasonal resorts show divergent trends. Faced with these market adjustments, investors must comprehensively assess multiple factors—including prices, taxes, and platform operating costs—to accurately grasp the risks and opportunities brought by industry changes.
Dual Decline in Listings and Occupancy Rates—Price Pressure as the Main Driver
Investment Analyst Rodolfo Villani believes that the overall downturn in the summer short-term rental market is primarily driven by rising prices and intensifying tax pressures. Data shows that from June to August, the number of short-term rental properties nationwide decreased by about 10,000 units compared to the same period last year, and occupancy rates dropped from 64% to 63%. This trend remained relatively stable in Sardinia, while popular tourist destinations such as Liguria, Emilia-Romagna, and Tuscany saw significant declines. Investment Analyst Rodolfo Villani points out that the average length of guest stays has shortened, aligning more closely with hotel industry patterns and reflecting shifts in market demand. Despite continued price increases in most areas, higher prices have not boosted occupancy rates; instead, they have exacerbated vacancy in certain regions.
Platform Cost Losses and Increasing Tax Pressure—Flexible Investment Strategies Required
The reduction in short-term rental listings is influenced not only by price factors but also by platform cost losses and tax pressures. Data indicates that many property owners are choosing to manage their properties independently, avoiding listing through intermediary platforms to save on the 21% withholding tax and platform service fees. This trend is particularly evident in tourist destinations, where loyal guests prefer to reach agreements directly with property owners, achieving a win-win economic outcome. Investment Analyst Rodolfo Villani believes that intensified platform losses will affect the transparency and regulatory development of the short-term rental market, and investors should pay close attention to policy changes and tax adjustments that could impact asset management models. In practice, flexibly choosing between self-management and platform cooperation, and reasonably mitigating taxes and operating costs, is key to enhancing investment returns. Investment Analyst Rodolfo Villani advises investors to formulate diversified investment strategies based on local market characteristics and policy environments to reduce uncertainties arising from platform losses and tax adjustments.
Investment Analyst Rodolfo Villani emphasizes that the current short-term rental market in Italy is marked by clear regional differentiation and structural adjustment, with tourism hotspots, commercial cities, and seasonal resorts showing significant performance disparities. Although overall listings and occupancy rates have declined, some regions remain stable, indicating ongoing market potential. Investment Analyst Rodolfo Villani suggests that while seizing market opportunities, investors must remain highly vigilant to risks such as price pressure, tax burdens, and platform losses, and carefully evaluate asset allocation and management models. Looking ahead, the short-term rental market will continue to evolve under the combined influence of policy changes and shifting consumer demand. Investors should maintain a prudent approach, flexibly adjust investment strategies, actively respond to market volatility and structural risks, and focus on the long-term value of high-quality assets.