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Sydney Ranked in the Top 10 Most Popular Cities for Vacation Rentals

February 26, 2021 Insurance No Comments Email Email

2020 brought change to the world of travel, as many countries closed their borders to visitors, flights were reduced, and lockdown restrictions were implemented across the world.

However, with the continuous rollout of the COVID-19 vaccine, many travelers are regaining confidence and are looking to book their next vacation.

Top 10 Most and Least Popular Vacation Rental Locations
Location % of occupancy levels # Location % of occupancy levels
Los Angeles, U.S. 68% 1 Agra, India 16%
Seoul, South Korea 67% 2 Cairo, Egypt 23%
Singapore 65% 3 Hanoi, Vietnam 29%
Berlin, Germany 64% 4 Shenzhen, China 29%
Dublin, Ireland 63% 5 Guangzhou, China 29%
Paris, France 63% 6 Jaipur, India 30%
Taipei, Taiwan 63% 7 Antalya, Turkey 30%
Amsterdam, Netherlands 63% 8 Johor Bahru, Malaysia 31%
Sydney, Australia 62% 9 Pattaya, Thailand 32%
Toronto, Canada 61% 10 Chennai, India 35%

With this in mind, travel insurance comparison site InsureMyTrip analyzed vacation rental properties in 50 cities around the world to reveal which ones are the most and least popular* for visitors.

According to the data, Los Angeles, California – known as the City of Angels – is the most popular city as vacation rental properties in L.A. experienced an average of nearly 70% occupancy in 2020.

With favorable weather for much of the year and a myriad of attractions and outdoor activities, L.A. is the ideal location for travelers to enjoy the great outdoors. Visitors from the world around travel to L.A. to enjoy numerous public beaches, Hollywood hill hikes and the infamous Walk of Fame.

InsureMyTrip’s data also revealed that L.A.’s rental properties score highly for reviews and cleanliness, achieving average scores of 4.57 and 4.59 out of a possible 5 respectively**.

However, L.A. rental properties could improve their cancellation policies, with only 36% offering flexible cancellations. Many travelers are still cautious when booking due to the pandemic, so this may be a deterrent for some.

Seoul, South Korea follows closely in second place, as properties in the city experienced an average of 67% occupancy.

Seoul is a popular destination, attracting visitors with its mix of ancient traditions, impressive digital technology, and has a high safety rating.

Other favorable factors include its high average review scores (4.62/5) and cleanliness ratings (4.58/5). However, similar to Los Angeles, only a quarter of Seoul’s current rental properties offer a flexible cancellation policy.

Singapore (65%), Berlin (64%), and Dublin (63%) round out the top five most popular vacation rental locations around the world.

When examining the least popular locations, Agra, India (16%) and Cairo, Egypt (23%) are in the bottom two spots due to their low occupancy levels for their listed vacation rental properties. The prolonged closure of tourist hot spots due to the COVID-19 pandemic, which has drastically reduced the number of visitors to the area, could be an explanation for these low occupancy levels.

Although it reopened in September, the number of visitors permitted to the Taj Mahal dropped to only 5,000 a day, versus an average of 20,000 before the pandemic.

That said, six of the least popular cities feature the highest percentage of flexible cancellation policies. Travelers may have felt they did not have to follow through with their booking without the worry of losing money.

Hanoi, Vietnam (29%), Shenzhen, China (29%) and Guangzhou (29%) complete the five cities with the lowest vacation rental occupancy levels.

To attract travelers in 2021, vacation rental properties may need to reevaluate their priorities. From improving cancellation flexibility to ensuring high-ranking cleanliness, many travelers will place importance on new data points in the coming year.

Commenting on the findings Ronni Kenoian, Director of Marketing at InsureMyTrip, said:

“Vacation rental prices will likely continue to be dynamic and unpredictable as pandemic mitigation efforts continue to affect travel behavior.

However, travelers can use the latest average room prices to help budget and plan a future trip. We would also recommend that travelers review the cancellation policy for any vacation rental and seek travel insurance to protect their trip investment.”

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