‘Exotic’ European city where Airbnb’s cost less than half as much as hotels

Travelling to Europe on a budget isn’t always easy during the summer when high demand inflates the cost of accommodation, particularly hotels.

However, financial experts at Moneyzine claim that it is still possible to find affordable places to stay by looking at Airbnb as an alternative option.

A new study by the Moneyzine team found that a range of popular European cities offer self-catered stays for around half the price of hotels in the same area, with some costing 61 percent less on average.

To do this, the team scoured Airbnb.com and Trivago to retrieve the average cost per night for both Airbnbs and hotels across 35 European cities.

An impressive 15 cities came out on top as the best value for money, with Airbnb’s costing between 30 and 61 percent less than hotels, and Istanbul in Turkey took the top spot.

Istanbul, Turkey

An expert at Moneyzine said: “Istanbul, the former Turkish capital, is the European city where Airbnbs provide the best value-for-money compared to hotels.

“With an average nightly rate of £35.17, Airbnbs are 61.77 percent cheaper than hotels, while boasting the second lowest prices of all cities analysed.

“Declared to be one of the world’s cheapest destinations, the exotic Mediterranean city is ideal for travellers on a budget.”

The study found that hotels in the city cost £92 per person, per night on average, while Airbnb’s come in at less than £36.

Athens, Greece

The Greek capital came second on the list with Airbnb’s costing 49.53 percent less than hotels on average. According to the Moneyzine experts, the average cost of a standard hotel room per night is £107, while the alternative comes in at just £54.

As the largest and most influential of the Greek city-states, Athens is worth a visit by those seeking a sun-soaked getaway this year.

Lisbon, Portugal

The popular holiday destination charges a staggering £163 per night on average for a hotel room, though Airbnb’s are just a fraction of the price at £83.33.

According to financial experts, this works out as a 48.88 percent saving to stay in the very same city.

Berlin and Paris were among the other top five destinations, with the German city offering Airbnb’s for £98 per night compared to £183 for hotels.

The French capital boasts a 45.92 price difference with hotels priced at £188 per night and Airbnb’s at £101.67.

In Spain, Barcelona was ranked as a top destination to consider Airbnb’s over hotels with the former costing just £95.83 on average per night compared to the latter at £171.