Market research for Airbnb: How to do it?

In today's post, we tell you the fundamentals of market research for Airbnb; what software exists for market research and ultimately, how you can correctly choose the location of your next tourist accommodation.

What is market research for Airbnb and what are its advantages?

The three factors that influence the profitability of a real estate business are three: "location, location, and location". This mantra may sound like a cliché, but the truth is that it is an undeniable truth.

Consider that the differences between a traditional real estate business and the management of tourist apartments are very few. Before buying or signing a rental contract to start your Airbnb business, you must first ask yourself: what is the best location? It is precisely to answer this question that market research for Airbnb comes into play.

This market research for Airbnb is not only useful for real estate investors. It also helps you improve the profitability of your tourist accommodation. Why? Because being able to see which accommodations in your area are performing best allows you to know what they are doing and use that information to take action. It's like using cheat sheets on exams... but without breaking the rules.

🤑 Lost when calculating the current profitability of your tourist accommodation? Download the Airbnb financial calculator and start there.

Market research software for Airbnb

We have analysed three software for Airbnb market research. Read on to discover the pros and cons of each.

AirDnA, the doyen of market research for Airbnb

Undoubtedly, AirDnA is the leader in the Airbnb market research sector. The software is aimed at hosts, property managers, and real estate investors alike.

You can spy on your competitors in your area and see exactly how much they are earning; what their occupancy rate is and much more.

In addition, you can enter an address and get a prediction of how much you could earn with a tourist accommodation at that location. These analyses are based on more than 4 million holiday rental homes in their database.

There is a lot of information you can get with the free demo version of this software. However, if you need to do rigorous Airbnb market research, subscriptions start at $39.99/month for a neighborhood and $149/month for entire cities.

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Transparent, the Spanish market research company for tourist accommodations

Transparent is a company with offices in Madrid and San Francisco. They develop a data analysis and visualization tool for the short-term rental industry. Their database is composed of more than 20 million accommodations and has global coverage.

With Transparent, property managers, hotel chains, and real estate investors can anticipate and predict the demand and profitability of their assets. In addition, the platform has a complete Airbnb pricing tool and an event calendar.

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Example screen of Transparent, a market research software for holiday rentals. Via: Transparent.[/caption]

🛎️ Did you know that you can save a lot of time and money by automating your guests' check-in? Take a look at the Raixer smart lock.