Euskadi vs Girona: which is better for Airbnb investment? (2026)

Bottom line

Euskadi edges ahead of Girona on higher occupancy (19.7% vs 8.2%), stronger RevPAR (£29 vs £16).

Head-to-head metrics

	Euskadi	Girona
Median occupancy	19.7%	8.2%
Median daily rate	£136	£140
Median RevPAR	£29	£16
Active listings	5,093	14,216
YoY occupancy	+3.3 pts	+0 pts
YoY daily rate	+26%	+36.9%
Regulation risk	—	—
Annual night cap	None	None
License required	No	No

Full analysis: Euskadi vs Girona

On the money side of this comparison — what a listing actually earns against the nights it has available — Euskadi finishes decisively ahead of Girona. Revenue per available night — rate and occupancy combined, the figure that actually reaches an owner — is 82.8% higher in Euskadi: £29 against £16. Euskadi sells 11.5 more points of its calendar — 19.7% median occupancy against 8.2% in Girona. That is not a rounding difference, and it compounds over a hold period.

On the mechanics of the yield the two are hard to separate. Euskadi runs 19.7% occupancy at £136 a night; Girona runs 8.2% at £140. That leaves RevPAR almost level too — £29 against £16 — so operating quality, not market selection, is what will decide your return between these two.

That verdict needs a caveat, because Girona is not simply the weaker market of the two. Girona is the deeper market at 14,216 active listings against 5,093, which usually means better comparables going in and a wider buyer pool coming out. Nightly rates are also climbing faster in Girona, +36.9% over the last year against +26% in Euskadi. If your model leans on that dimension, the ordering above can reasonably flip.

Neither Euskadi nor Girona 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. Euskadi peaks in September at 57.2% and bottoms in December at 33.4%; Girona runs from 60.4% in August down to 44.4% in November. Girona is the steadier of the two at 16 points peak-to-trough against 23.8 — easier to underwrite against a mortgage — while Euskadi 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. Euskadi suits buyers who want a conventional, lightly regulated entry. It is also the momentum side of this pair. Girona 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 5,093 active Euskadi listings and 14,216 in Girona.

Frequently asked questions

Is Euskadi or Girona better for Airbnb investment?

Euskadi, on the data we track. It leads on stronger RevPAR (£29 vs £16), higher occupancy (19.7% vs 8.2%), and higher median annual revenue (£10,552 vs £5,783). Girona is not the weak side of this pair, though — it wins on a deeper market (14,216 vs 5,093 active listings).

Which has higher occupancy, Euskadi or Girona?

Euskadi, at 19.7% median occupancy against 8.2% in Girona — a gap of 11.5 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 Euskadi gained 3.3 points and Girona was flat, so the gap is widening.

Which has higher nightly rates, Euskadi or Girona?

Girona, at £140 a night against £136 in Euskadi — roughly 2.7% more. The nightly rate is not the whole story, though. On revenue per available night — rate multiplied by how often the room actually sells — Euskadi comes out ahead at £29 against £16, so Euskadi's cheaper nights are more than repaid by how often they fill.

Which has stronger year-over-year growth, Euskadi or Girona?

Euskadi, on occupancy: +3.3 points over the last twelve months against +0 points in Girona. Nightly rates rose 26% in Euskadi and rose 36.9% in Girona 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, Euskadi or Girona?

Girona, with 14,216 active listings against 5,093 in Euskadi. 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 Euskadi vs Girona?

Euskadi earns more: roughly £10,552 a year for a median listing against £5,783 in Girona. 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 Euskadi →

Occupancy, ADR, neighborhoods, regulation

Market guide

Airbnb in Girona →

Occupancy, ADR, neighborhoods, regulation

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