Hong Kong

As of May 2026, Hong Kong, Kowloon, Macau have 1,730 active Airbnb and VRBO listings. This represents a 46% decrease from the previous year.

The average Airbnb or VRBO in Hong Kong generates HK$97K per year. High-performing properties earn HK$412K/year, while low-performing properties earn HK$28K/year. The substantial revenue spread suggests that market rewards are highly concentrated, reflecting a bifurcated landscape where top-tier assets capture outsized returns despite a significant contraction in total market supply.

Airbnb and VRBO can be profitable in Hong Kong. Average annual revenue is HK$97K with 34% occupancy. High-performing properties earn up to HK$412K/year. The 34% average occupancy against high revenue ceilings indicates that profitability is driven by premium pricing power rather than high volume, signaling a market that favors boutique yield over broad-scale utilization.

The average occupancy rate for Airbnbs and VRBOs in Hong Kong is 34%. This occupancy level, combined with an average nightly rate of HK$1K, results in a RevPAR (revenue per available room) of HK$249 per day.

3-bedroom properties demonstrate the strongest performance in Hong Kong, with annual revenue of HK$340K. These properties balance operating costs and rental demand most effectively in the Hong Kong market. Property performance varies significantly by location, amenities, and management quality.

Short-term rental regulations vary by jurisdiction in the Hong Kong area. Hong Kong: Strict. Hotels and Guesthouses Accommodation Ordinance requires licenses for rentals under 28 days. Unlicensed operations illegal. Active enforcement with prosecutions, fines up to HK$200,000, imprisonment possible. Many hosts operate illegally but face real risk. Kowloon: Strict. Same as Hong Kong - part of Hong Kong SAR. 28-day minimum without hotel license. Police and Office of the Licensing Authority conduct raids. Regular prosecutions of illegal guesthouses. Macau: Strict. Short-term rentals under 90 days prohibited in residential properties without tourism licensing. Heavy fines, active enforcement. Market largely suppressed. Always verify current regulations with local authorities and obtain necessary permits before operating a short-term rental.

The Hong Kong Airbnb and VRBO market is currently showing balanced with strong demand conditions. Supply has declined 46% year-over-year, while RevPAR has increased 30%. This indicates healthy demand growth outpacing supply. Such a sharp supply reduction alongside rising revenue metrics points to a tightening market where remaining participants benefit from decreased competition and improved pricing leverage.

Launch around September, 2-3 months before peak winter season (December peaks). This pre-peak timing lets you build reviews when competition is 14% lower than peak months. Avoid launching during peak season when established listings dominate, or slow months (May-June) when gaining traction is harder.

The most common amenities in Hong Kong listings include: Air Conditioning (100%), Kitchen (91%), Tv (86%), Washing Machine (73%), Elevator (57%). Amenities that boost revenue the most include Washing Machine, Heating, Parking, with Washing Machine properties earning approximately 29% more (HK$329K/year vs HK$255K/year).

Monthly estimated revenue per listing in Hong Kong over the last 12 months: May: HK$4K, June: HK$3K, July: HK$4K, August: HK$4K, September: HK$6K, October: HK$10K, November: HK$10K, December: HK$11K, January: HK$10K, February: HK$10K, March: HK$10K, April: HK$10K. These figures are based on RevPAR (revenue per available room) multiplied by the number of days in each month.

The overall average nightly rate in Hong Kong is HK$1K, up 18% year-over-year. By property size: 1-bedroom properties average HK$735/night, 2-bedroom properties average HK$2K/night, 3-bedroom properties average HK$2K/night, 4+ bedroom properties average HK$2K/night. Rates peak in December and are lowest in June.

Guests in Hong Kong book an average of 31 days in advance, down 16% from last year. By property size: 1-bedroom: 27 days, 2-bedroom: 39 days, 3-bedroom: 45 days, 4+ bedroom: 39 days. Larger properties tend to have longer booking windows as guests plan group trips further ahead.

Over the past year, the Hong Kong Airbnb and VRBO market has seen the following changes: supply declined 46%, revenue per listing increased 30%, occupancy fell 6%, average nightly rates increased 18%, and lead time decreased 16%. These shifts reveal a transition toward shorter booking windows and higher price points, suggesting guests are prioritizing availability and premium rates over extended stays.

In Hong Kong, Saturday sees the highest booking demand while Monday has the lowest. Nightly rates peak on Friday and are lowest on Thursday. Weekends show 12% higher occupancy than weekdays.