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

Bottom line

Florence edges ahead of Bergamo on higher occupancy (30% vs 24%), stronger RevPAR (£32 vs £9).

Head-to-head metrics

	Bergamo	Florence
Median occupancy	24%	30%
Median daily rate	£73	£116
Median RevPAR	£9	£32
Active listings	2,785	10,305
YoY occupancy	+12.5 pts	+0.4 pts
YoY daily rate	-3.4%	-8.7%
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 clearly ahead of Bergamo. Revenue per available night — rate and occupancy combined, the figure that actually reaches an owner — is 253.5% higher in Florence: £32 against £9. Florence commands 59.3% more per night, £116 against £73. Those gaps are wide enough to survive a normal year's variance.

Florence takes both halves of the yield equation, which is less common than it sounds. It charges more per night — £116 against £73 — and still fills more of the year, 30% against 24%. 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 £32 against £9.

That verdict needs a caveat, because Bergamo is not simply the weaker market of the two. The twelve-month direction favours Bergamo too: occupancy there moved +12.5 points while Florence moved +0.4 points. Bergamo's calendar is the flatter of the two — 24.7 points between its best and worst month against 33.8 in Florence — which makes debt service easier to underwrite. 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 52.3% and bottoms in November at 27.6%; Florence runs from 65% in October down to 31.2% in December. Bergamo is the steadier of the two at 24.7 points peak-to-trough against 33.8 — 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. It is also the momentum side of this pair. 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 2025-09, filtered to listings with at least one booking in the last twelve months. Occupancy medians are drawn from 2,063 active Bergamo listings and 5,209 in Florence.

Frequently asked questions

Is Bergamo or Florence better for Airbnb investment?

Florence, on the data we track. It leads on stronger RevPAR (£32 vs £9), a higher nightly rate (£116 vs £73), and higher occupancy (30% vs 24%). Bergamo is not the weak side of this pair, though — it wins on the better occupancy trend (+12.5 points vs +0.4 points year over year).

Which has higher occupancy, Bergamo or Florence?

Florence, at 30% median occupancy against 24% in Bergamo — a gap of 6 points. That is a real but modest edge; a well-run listing in Bergamo can close most of it. Over the last twelve months Bergamo gained 12.5 points and Florence was flat, so the gap is closing.

Which has higher nightly rates, Bergamo or Florence?

Florence, at £116 a night against £73 in Bergamo — roughly 59.3% more. Revenue per available night agrees rather than contradicts: £32 in Florence against £9, so the rate premium survives contact with the occupancy figures.

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

Bergamo, on occupancy: +12.5 points over the last twelve months against +0.4 points in Florence. Nightly rates fell 3.4% in Bergamo and fell 8.7% 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 10,305 active listings against 2,785 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 £11,735 a year for a median listing against £3,305 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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