Nearly five million euro is estimated to be earned every month by AirBnB providers in county Clare.
It comes almost a thousand entire homes or apartments in the county are operating as short-term lets, rather than long-term rental properties.
As of October, there are a total of 1,575 AirBnB listings in Clare.
Of those, the majority are private homes or apartments, with nearly 58% of all listings falling under this category.
This means that 911 units of Clare’s housing stock are being let out to tourists or individuals who only wish to stay in the county for a short period of time, rather than to those seeking long-term accommodation.
Additionally, 617 private rooms in this county are being rented on AirBnB’s website, as well as 4 shared rooms.
Based on a 70% occupancy rate, the estimated monthly income per listing in the Banner is €3,148.
Using the same calculations, that means AirBnB providers are earning up to an estimated €5m per month.
The latest Daft.ie report, shows that the average rent in this county is €1,061 – meaning that it’s nearly doubly profitable to rent on AirBnB in comparison to letting to a long-term renter.
Interestingly, nearly 55% of AirBnB hosts in this county have multiple listings.
The majority of AirBnB properties are situated in North Clare – with more than 53% of rentals in the Ennistymon electoral area.
AirBnB hosts in this locality can expect to earn the most per month – with an average estimated monthly income of over €2,700.
West Clare is next in line, with 276 available short-term rentals and an estimated monthly income of just shy of €2,000.
Killaloe, Ennis and Shannon have fewer AirBnB properties, recording 159, 157 and 148 hosts respectively.