Short-Term Furnished Housing Leasing Market Trend Analysis Research Report by Type (Short-Term Rentals, Corporate Housing, Extended Stay Apartments, Vacation Rentals, Serviced Apartments), by Application (Business Travelers, Corporate Relocation, Temporary Housing Needs, Vacation Stays, Executive Housing Solutions), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)- Global Forecast to 2030
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Industry Stats: The Global Short-Term Furnished Housing Leasing Market is estimated to be valued at USD 13.3 Billion in 2023 and is expected to reach USD 23.5 Billion by 2030, growing at a compound annual growth rate (CAGR) of 12.2% from 2024 to 2030.
The Short-Term Furnished Housing Leasing Market includes the market for renting fully furnished residential properties for a short period of time, usually between a few days and a few months. The facilities in these furnished homes include serviced apartments, corporate housing, furnished apartments, vacation rentals, extended-stay home rentals, executive suites, co-living spaces, temporary relocation homes, etc. Short-term furnished house rentals offer a convenient and affordable living situation to business travelers, corporate travelers, expatriates, students, travelers, medical professionals, government officials, families relocating, tourists, digital nomads, etc., who would prefer a furnished home and internet connection to hotels or unfurnished long-term residential rentals.
For ten years, the demand side has been evolving due to the development of new types of travel habits, a globalized workforce, an increasing number of mobile employees and digital-enabled property rental platforms. As a response to this new context, traditional temporary accommodation suppliers have been transformed into accommodation platforms where properties can be list online and booked instantly, viewed through virtual reality, managed through smart contracts, access through contactless technology or served by AI customer assistants. Specifically, with the rise of the remote working practice, project businesses and international business travel, the demand for flexible accommodation packages where residence and hospitality are combined has experienced a new significant growth.
An increasing consumer focus on convenience, affordability and flexible lifestyles is a key driver of market expansion. Tenants and tenants in the future will look for furnished accommodation in order avoid the burden of acquiring furniture, utility connection charges and long lease commitments. Further, firms sending employees, consultants and project teams abroad will make effective use of corporate housing. Healthcare professionals, university students and international travelers will seek out serviced apartments to meet their temporary accommodation needs. The expansion of the gig economy, the rise of international students and growing international move management will also bolster the demand for high-end furnished properties to rent.
The power of technology continues to be felt as the overall competitive environment keeps changing rapidly. Developers, let alone tourism entrepreneurs, are considering to introduce new technologies such as, applications of ai, computing cloud, IoT, e- payment solutions, property management softwares, virtual tours and so on for short-term accommodation management. Most hoteliers and property managers are using recommendation engines, powered by AI, that suggests properties matching importance on factors tenants consider (preference, distance, cost, length of staying). It is also intensively using cloud-based property management soft wares for reservation system, lease administration, schedule maintenance and management, better monitor the occupancy and guests communications. The integration of various smart home technologies like digital lock, auto climate control, energy management, remote surveillance and so on also brings the benefits of more secured, less labor intensive, automation process that optimize operation efficiency and guest satisfaction, ultimately leading to highly improved property utilization and quality of service.
Regulatory regulations are still impacting the Short-Term Furnished Housing Leasing Market. Property owners and leasing operators while using online booking platforms are subject to housing codes, zoning, taxation policies, licensing requirements, consumer protection laws as well as health and safety regulations. Several cities are adopting revised policies pertaining to Short-term rentals seeking to ensure that neighborhood tourism is more harmonized with the supply of affordable housing for local residents. Heightened focus on clear pricing transparency, tenants’ rights, sustainability and digital privacy is favoring operators who will be focusing on increasing compliance, greener property management strategies and stronger cyber security in reservation and payment solutions.
North America is still a major regional market due to its healthy corporate mobility, high business travel volumes, comprehensive digital booking capabilities, and adoption of flexible accommodation solutions. Europe is still on a healthy growth trajectory with long-haul tourist flow, international working mobility, and the rising popularity of serviced apartments in the region‘s major cities. The Asia-Pacific is expected to achieve the fastest growth during the forecast period due to rapid urbanization, proliferation of multinationals, growing domestic and international travel markets, increasing student residence mobility, and investment in China, India, Japan, South Korea, Australia, Singapore, and SouthEast Asia.
The industry is expected to grow in long-term as the workforce mobility, business travels (short/long-term), flexible stays (short/long-term), digital accommodation services (short/long-term) are flourishing in consumer adoption of the smart hyper connected living, integration of AI-enabled property management with smart home technology, cloud computing and booking platforms, digital leasing, integrated hospitality services etc. For property management companies, corporate housing providers, real estate companies, serviced apartments operators, online accommodation aggregators and etc.
ATTRIBUTE | DETAILS |
Study period | 2023-2030 |
Base year | 2023 |
Estimated year | 2023 |
Forecasted year | 2024-2030 |
Historical period | 2019-2023 |
Unit | Value (USD Billion) |
Segmentation | by Type, by Application, and Region |
By Type | Short-Term Rentals Corporate Housing Extended Stay Apartments Vacation Rentals Serviced Apartments |
By Application | Business Travelers Corporate Relocation Temporary Housing Needs Vacation Stays Executive Housing Solutions |
By Region | North America Asia Pacific Europe South America Middle East Asia & Africa |
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Market statistical analysis
- Growth analysis
- Incremental competitive analysis
- Investment opportunity
- Industry facts
- Statistical figures
- Revenue
- Sales
- Profits
However, the market for business strategies shares the most lucrative industry and rising product/service demand. Analysts from FIC Research highlighted the most current trends in a market study as well.
Market Competitive Landscape
The research study by For Insights Consultancy Research presents a fair and transparent analysis of the factors influencing the leading competitors in a comprehensive company profile. It includes the following information:
- Business Strategy
- Company overview
- Financial performance
- Key Product/Service Offers
- Performance indicators.
- Porter’s Five Forces Model.
- Risk Analysis
- Latest developments
- Regional presence
- SWOT analysis
The most prominent players in the Short-Term Furnished Housing Leasing Market are:
- Airbnb
- VRBO
- com
- Zillow Rentals
- com
- HomeAway
- Expedia
- Furnished Finder
- Nestpick
- 9flats
Market segment analysis
The report provides thorough study data for each area based on different geographic locations, as well as reliable and precise information regarding actual sizes and amounts. The market’s dominant segmentation is achieved using the following techniques:
The Short-Term Furnished Housing Leasing market is segmented into the following sub-segments:
By Type
- Short-Term Rentals
- Corporate Housing
- Extended Stay Apartments
- Vacation Rentals
- Serviced Apartments
By Application
- Business Travelers
- Corporate Relocation
- Temporary Housing Needs
- Vacation Stays
- Executive Housing Solutions
Geographical Landscape:
The Short-Term Furnished Housing Leasing Market report provides information about the market area, which is further subdivided into sub-regions and countries/regions. In addition to the market share in each country and sub-region, this chapter of this report also contains information on profit opportunities.
- North America- (United States, Canada, and Mexico)
- Europe (UK, Germany, France, Russia, and Italy)
- Asia-Pacific (China, Korea, Japan, India, and Southeast Asia)
- South America (Brazil, Colombia, Argentina, etc.)
- The Middle East and Africa (Saudi Arabia, UAE, Nigeria, Egypt, and South Africa)
This report offers actionable growth insights and an extensive study comprising secondary research, primary interviews with industry stakeholders, and competitors, validation, and triangulation with the FIC regional database. Experts have detailed primary records with the market players across the value chain in all regions and industry experts to obtain qualitative and quantitative insights.
Forecast methodology
- Identify the variables and their impact on market
- Evaluate the trend of regional market
- Evaluate the strategies of competitors
- Identify the market dynamics including change in demand, supply, challenges and opportunities
- Examine past market trend along with challenges analyses
- An understanding of the framework for adoption, development, distribution, and regulation.
Reason to purchase this Report
- Using both economic and non-economic factors, a qualitative and quantitative segmentation of the market for Short-Term Furnished Housing Leasing
- Identifies the region and market segment for Short-Term Furnished Housing Leasing Market that is predicted to grow the fastest and have the biggest market share.
- The competitive environment, which includes recent service/product launches, joint ventures, corporate growth, and acquisitions of the companies described as well as the market share of the leading rivals.
- In light of recent changes, how the market sees the present and the future (including growth possibilities, drivers, as well as obstacles and restraints from both developing and emerging regions).
- Includes a thorough analysis of the market utilizing Porter’s Five Forces analysis from a variety of perspectives.
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Frequently Asked Questions
What is the expected growth rate of the Short-Term Furnished Housing Leasing market over the next 7 years?
Short-Term Furnished Housing Leasing Market is estimated to increase at a CAGR of 12.2% by 2030.
Which region is dominating in the Short-Term Furnished Housing Leasing market?
The Short-Term Furnished Housing Leasing market is experiencing significant growth, with North America currently dominating the market.
Who are the major key players in the Short-Term Furnished Housing Leasing market?
The Short-Term Furnished Housing Leasing market is a competitive space with key players such as Airbnb, VRBO, Booking.com, Zillow Rentals, Apartments.com, HomeAway, Expedia, Furnished Finder, Nestpick, 9flats.
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