While the company says rental markets have started to recover in Europe – although prices have decreased in some major cities – in Paris the cost of a one bedroom apartment increased by 1.4% between Q2 and Q3 2020 to €1,755, and studios rose 0.8% to an average of €1,003 and single rooms by 1.8% to €662.
Compared to Q3 2019 however, prices for single rooms in Paris fell by 4%, as did prices in Milan (-7%), Turin (-5.5%), Florence (-4.9%) and Lisbon (-3.9%).
“Despite travel restrictions from the US and Asia still in place, we see European and local demand stepping in and taking over,” said Djordy Seelmann, CEO of HousingAnywhere.
“By July, demand for rental accommodation had returned to normal in a range of cities like Florence and Amsterdam,” he continued.
“The rental market remains fragile as long as a vaccine is not widely available”
“The outlook is optimistic and we expect that demand will continue to recover in the coming months. That said, the rental market remains fragile as long as a vaccine is not widely available.”
However, the company predicts demand will increase over the next few months, with 65% of international students saying they remain keen to move abroad.
In a survey of 110 respondents conducted from June to August this year, HousingAnywhere found that a further 30% were keen to move abroad “as soon as possible”.
Additionally, the top service desired from landlords was high-speed WiFi capable of supporting video calls, followed by homes cleaned according to Covid-19 safety standards, cleaning supplies and a 24-hour waiting period before the next tenant moves in.
Seelmann further noted that the pandemic had resulted in more online viewings, transactions, bookings and payments in the industry than ever before.
“And now that people have gotten more comfortable with online platforms for the rental market, they will likely keep using them in the future, not only for the increased safety and protection they offer, but also for their convenience,” he added.