San Sebastian

As of May 2026, San Sebastián, Hondarribia, Zarautz have 1,407 active Airbnb and VRBO listings. This represents a 18% decrease from the previous year.

The average Airbnb or VRBO in San Sebastian generates €50K per year. High-performing properties earn €88K/year, while low-performing properties earn €19K/year. This wide revenue variance suggests that market returns are highly sensitive to specific asset positioning, as the supply contraction has not yet compressed the performance gap between top-tier and underperforming units.

Airbnb and VRBO can be profitable in San Sebastian. Average annual revenue is €50K with 44% occupancy. High-performing properties earn up to €88K/year. The 44% occupancy rate alongside the significant revenue ceiling indicates that current demand is concentrated in a segment of the market that captures substantial pricing power despite the broader supply decline.

The average occupancy rate for Airbnbs and VRBOs in San Sebastian is 44%. This occupancy level, combined with an average nightly rate of €274, results in a RevPAR (revenue per available room) of €93 per day.

4+ bedroom properties demonstrate the strongest performance in San Sebastian, with annual revenue of €83K. These properties balance operating costs and rental demand most effectively in the San Sebastian market. Property performance varies significantly by location, amenities, and management quality.

Short-term rental regulations vary by jurisdiction in the San Sebastian area. San Sebastián: Strict. Tourist license (VUT) required, banned in most residential areas since 2019, limited to specific zones. Active enforcement with inspections and fines for illegal listings. Hondarribia: Strict. VUT license mandatory, restricted to Old Town and Marina zones only, density limits apply. Active enforcement, illegal rentals face penalties. Zarautz: Strict. VUT registration required, banned in residential areas, limited to commercial zones. Proactive enforcement with regular monitoring and fines. Always verify current regulations with local authorities and obtain necessary permits before operating a short-term rental.

The San Sebastian Airbnb and VRBO market is currently showing balanced conditions. Supply has declined 18% year-over-year, while RevPAR has decreased 3%. This indicates balanced supply-demand dynamics. The synchronized reduction in supply and revenue suggests that the market is stabilizing after a period of adjustment, preventing the oversupply issues common in other major destinations.

Launch around April, 2-3 months before peak summer season (July peaks). This pre-peak timing lets you build reviews when competition is 17% lower than peak months. Avoid launching during peak season when established listings dominate, or slow months (November-January) when gaining traction is harder.

The most common amenities in San Sebastian listings include: Kitchen (97%), Tv (95%), Washing Machine (94%), Elevator (70%), Heating (70%). Amenities that boost revenue the most include Washing Machine, Air Conditioning, with Washing Machine properties earning approximately 24% more (€57K/year vs €46K/year).

Monthly estimated revenue per listing in San Sebastian over the last 12 months: May: €3K, June: €3K, July: €5K, August: €4K, September: €4K, October: €3K, November: €1K, December: €2K, January: €1K, February: €1K, March: €2K, April: €4K. 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 San Sebastian is €274, up 21% year-over-year. By property size: 1-bedroom properties average €169/night, 2-bedroom properties average €262/night, 3-bedroom properties average €340/night, 4+ bedroom properties average €617/night. Rates peak in August and are lowest in February.

Guests in San Sebastian book an average of 40 days in advance, down 22% from last year. By property size: 1-bedroom: 37 days, 2-bedroom: 40 days, 3-bedroom: 43 days, 4+ bedroom: 49 days. Larger properties tend to have longer booking windows as guests plan group trips further ahead.

Over the past year, the San Sebastian Airbnb and VRBO market has seen the following changes: supply declined 18%, revenue per listing decreased 3%, occupancy rose 1%, average nightly rates increased 21%, and lead time decreased 22%. These metrics reveal a shift toward short-notice bookings and higher pricing sensitivity, indicating that guests are prioritizing immediate availability over early planning.

In San Sebastian, Saturday sees the highest booking demand while Monday has the lowest. Nightly rates peak on Saturday and are lowest on Wednesday. Weekends show 33% higher occupancy than weekdays.