Bergamo vs Florence: which is better for Airbnb investment? (2026)

Bottom line

Florence edges ahead of Bergamo on higher occupancy (26.3% vs 11%), stronger RevPAR (£45 vs £12).

Head-to-head metrics

	Bergamo	Florence
Median occupancy	11%	26.3%
Median daily rate	£103	£166
Median RevPAR	£12	£45
Active listings	3,087	10,534
YoY occupancy	-0.5 pts	+0 pts
YoY daily rate	+40.3%	+42.3%
Regulation risk	—	—
Annual night cap	None	None
License required	No	No

Full analysis: Bergamo vs Florence

On the money side of this comparison — what a listing actually earns against the nights it has available — Florence finishes decisively ahead of Bergamo. Revenue per available night — rate and occupancy combined, the figure that actually reaches an owner — is 280.5% higher in Florence: £45 against £12. Florence sells 15.3 more points of its calendar — 26.3% median occupancy against 11% in Bergamo. That is not a rounding difference, and it compounds over a hold period.

Florence takes both halves of the yield equation, which is less common than it sounds. It charges more per night — £166 against £103 — and still fills more of the year, 26.3% against 11%. A market that leads on price and utilisation at once is normally one where demand has outrun supply, rather than one where hosts are discounting to keep the calendar busy. RevPAR reflects the double advantage at £45 against £12.

That verdict needs a caveat, because Bergamo is not simply the weaker market of the two. Bergamo's calendar is the flatter of the two — 21.7 points between its best and worst month against 34.3 in Florence — which makes debt service easier to underwrite. Bergamo is the less crowded of the two — 3,087 active listings to 10,534 — so a well-run property has fewer near-identical rivals to out-rank. If your model leans on that dimension, the ordering above can reasonably flip.

Neither Bergamo nor Florence currently has a verified short-term rental regulation record in our register, so the comparison above is a yield comparison only. Regulation is the single largest source of downside in this asset class — an unverified market is an unpriced risk, not an absent one.

The two calendars also behave differently. Bergamo peaks in September at 49.8% and bottoms in November at 28.1%; Florence runs from 64.8% in October down to 30.5% in December. Bergamo is the steadier of the two at 21.7 points peak-to-trough against 34.3 — easier to underwrite against a mortgage — while Florence concentrates its return into a shorter window and rewards operators who price the peak aggressively instead of holding a flat rate all year.

Who each suits, then. Bergamo suits buyers who want a conventional, lightly regulated entry. Florence answers to the same regulatory profile, so the split between them is operational rather than legal. Every figure above comes from the same Inside Airbnb snapshot pipeline on both sides, dated 2026-09, filtered to listings with at least one booking in the last twelve months. Occupancy medians are drawn from 3,087 active Bergamo listings and 10,534 in Florence.

Frequently asked questions

Is Bergamo or Florence better for Airbnb investment?

Florence, on the data we track. It leads on stronger RevPAR (£45 vs £12), higher occupancy (26.3% vs 11%), and a higher nightly rate (£166 vs £103). Bergamo is not the weak side of this pair, though — it wins on a flatter season (21.7-point swing vs 34.3).

Which has higher occupancy, Bergamo or Florence?

Florence, at 26.3% median occupancy against 11% in Bergamo — a gap of 15.3 points. That is a wide spread by short-term rental standards and usually reflects a structural demand difference rather than better hosting. Over the last twelve months Bergamo shed 0.5 points and Florence was flat, so the gap is widening.

Which has higher nightly rates, Bergamo or Florence?

Florence, at £166 a night against £103 in Bergamo — roughly 61.5% more. Revenue per available night agrees rather than contradicts: £45 in Florence against £12, so the rate premium survives contact with the occupancy figures.

Which has stronger year-over-year growth, Bergamo or Florence?

Florence, on occupancy: +0 points over the last twelve months against −0.5 points in Bergamo. Nightly rates rose 40.3% in Bergamo and rose 42.3% in Florence over the same window. One year of movement is a direction, not a trend — weigh it against the regulation picture before treating it as momentum.

Which is the bigger Airbnb market, Bergamo or Florence?

Florence, with 10,534 active listings against 3,087 in Bergamo. Size cuts both ways: a deep market gives you comparables, contractors and an exit, while a thinner one means fewer near-identical rivals competing for the same search results.

How much can you earn from an Airbnb in Bergamo vs Florence?

Florence earns more: roughly £16,422 a year for a median listing against £4,310 in Bergamo. Those are gross booking revenues before cleaning, management, platform fees, furnishing amortisation and tax — budget for a meaningful share of them, and note that a median listing is a median operator, not a good one.

Go deeper on each city

Market guide

Airbnb in Bergamo →

Occupancy, ADR, neighborhoods, regulation

Market guide

Airbnb in Florence →

Occupancy, ADR, neighborhoods, regulation

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