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

Bottom line

Euskadi edges ahead of Menorca on higher occupancy (19.7% vs 11.5%), stronger RevPAR (£29 vs £20).

Head-to-head metrics

	Euskadi	Menorca
Median occupancy	19.7%	11.5%
Median daily rate	£136	£152
Median RevPAR	£29	£20
Active listings	5,093	2,875
YoY occupancy	+3.3 pts	+0 pts
YoY daily rate	+26%	+28.3%
Regulation risk	—	—
Annual night cap	None	None
License required	No	No

Full analysis: Euskadi vs Menorca

On the money side of this comparison — what a listing actually earns against the nights it has available — Euskadi finishes clearly ahead of Menorca. Revenue per available night — rate and occupancy combined, the figure that actually reaches an owner — is 42.9% higher in Euskadi: £29 against £20. Euskadi's listings run at 19.7% occupancy against 11.5% in Menorca, worth 8.2 extra points of booked calendar every year. Those gaps are wide enough to survive a normal year's variance.

The two markets reach their revenue by different routes, which is what makes this pairing worth reading rather than just tabulating. Menorca is the rate market: £152 a night against £136, some 11.4% more, but it converts fewer of those nights at 11.5% occupancy. Euskadi is the volume market, filling 19.7% of its calendar at a lower headline price. Revenue per available night settles it: £29 in Euskadi against £20. Rate is what you advertise; RevPAR is what you bank.

That verdict needs a caveat, because Menorca is not simply the weaker market of the two. Nightly rates favour Menorca: £152 against £136 in Euskadi, a 11.4% premium. Menorca's calendar is the flatter of the two — 16.9 points between its best and worst month against 23.8 in Euskadi — which makes debt service easier to underwrite. If your model leans on nightly rate rather than volume, the ordering above can reasonably flip.

Neither Euskadi nor Menorca 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%; Menorca runs from 67.5% in January down to 50.6% in October. Menorca is the steadier of the two at 16.9 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 and whose economics survive high turnover — more bookings, more cleans, more guest contact per pound of revenue. It is also the momentum side of this pair. Menorca answers to the same regulatory profile, so the split between them is operational rather than legal: it is the market for an owner who can hold rate through the shoulder season rather than discounting to fill the calendar. 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 2,875 in Menorca.

Frequently asked questions

Is Euskadi or Menorca better for Airbnb investment?

Euskadi, on the data we track. It leads on stronger RevPAR (£29 vs £20), higher occupancy (19.7% vs 11.5%), and higher median annual revenue (£10,552 vs £7,390). Menorca is not the weak side of this pair, though — it wins on a higher nightly rate (£152 vs £136).

Which has higher occupancy, Euskadi or Menorca?

Euskadi, at 19.7% median occupancy against 11.5% in Menorca — a gap of 8.2 points. That is a real but modest edge; a well-run listing in Menorca can close most of it. Over the last twelve months Euskadi gained 3.3 points and Menorca was flat, so the gap is widening.

Which has higher nightly rates, Euskadi or Menorca?

Menorca, at £152 a night against £136 in Euskadi — roughly 11.4% 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 £20, so Euskadi's cheaper nights are more than repaid by how often they fill.

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

Euskadi, on occupancy: +3.3 points over the last twelve months against +0 points in Menorca. Nightly rates rose 26% in Euskadi and rose 28.3% in Menorca 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 Menorca?

Euskadi, with 5,093 active listings against 2,875 in Menorca. 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 Menorca?

Euskadi earns more: roughly £10,552 a year for a median listing against £7,390 in Menorca. 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 Menorca →

Occupancy, ADR, neighborhoods, regulation

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