Budva

As of May 2026, Budva, Kotor, Tivat have 6,603 active Airbnb and VRBO listings. This represents a 7% decrease from the previous year.

The average Airbnb or VRBO in Budva generates €10K per year. High-performing properties earn €29K/year, while low-performing properties earn €4K/year. This significant performance spread suggests that revenue potential is heavily concentrated in a select tier of listings, as overall market revenue has contracted while supply remains relatively stable.

Airbnb and VRBO can be profitable in Budva. Average annual revenue is €10K with 25% occupancy. High-performing properties earn up to €29K/year. The delta between average and high-end returns highlights a bifurcated market where top-tier assets capture disproportionate demand despite a broader decline in year-over-year revenue.

The average occupancy rate for Airbnbs and VRBOs in Budva is 25%. This occupancy level, combined with an average nightly rate of €114, results in a RevPAR (revenue per available room) of €18 per day.

4+ bedroom properties demonstrate the strongest performance in Budva, with annual revenue of €32K. These properties balance operating costs and rental demand most effectively in the Budva market. Property performance varies significantly by location, amenities, and management quality.

Short-term rental regulations vary by jurisdiction in the Budva area. Budva: Lenient. Registration with tax authority required, tourist tax collection mandatory. Minimal enforcement, widespread unlicensed operations common. Kotor: Lenient. Business registration and categorization needed, tourist tax required. Light enforcement, many operate informally despite UNESCO site status. Tivat: Lenient. Similar registration requirements as other municipalities, tourist tax collection. Weak enforcement, informal rentals prevalent especially near Porto Montenegro. Always verify current regulations with local authorities and obtain necessary permits before operating a short-term rental.

The Budva Airbnb and VRBO market is currently showing balanced conditions. Supply has declined 7% year-over-year, while RevPAR has decreased 24%. This indicates balanced supply-demand dynamics. The simultaneous contraction in both supply and revenue suggests a period of market adjustment where lower-performing inventory is likely exiting the pool.

Launch around May, 2-3 months before peak summer season (August peaks). This pre-peak timing lets you build reviews when competition is 40% lower than peak months. Avoid launching during peak season when established listings dominate, or slow months (November-February) when gaining traction is harder.

The most common amenities in Budva listings include: Air Conditioning (99%), Kitchen (97%), Tv (93%), Washing Machine (80%), Heating (78%). Amenities that boost revenue the most include Pool, Bbq, Washing Machine, with Pool properties earning approximately 76% more (€32K/year vs €18K/year).

Monthly estimated revenue per listing in Budva over the last 12 months: May: €510, June: €836, July: €1K, August: €2K, September: €832, October: €410, November: €133, December: €172, January: €116, February: €87, March: €176, April: €437. 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 Budva is €114, up 20% year-over-year. By property size: 1-bedroom properties average €86/night, 2-bedroom properties average €128/night, 3-bedroom properties average €234/night, 4+ bedroom properties average €486/night. Rates peak in August and are lowest in March.

Guests in Budva book an average of 27 days in advance, down 30% from last year. By property size: 1-bedroom: 26 days, 2-bedroom: 29 days, 3-bedroom: 31 days, 4+ bedroom: 34 days. Larger properties tend to have longer booking windows as guests plan group trips further ahead.

Over the past year, the Budva Airbnb and VRBO market has seen the following changes: supply declined 7%, revenue per listing decreased 24%, occupancy fell 13%, average nightly rates increased 20%, and lead time decreased 30%. These shifts indicate a market tightening where shorter booking windows and higher rates are failing to compensate for lower occupancy.

In Budva, Friday sees the highest booking demand while Monday has the lowest. Nightly rates peak on Saturday and are lowest on Wednesday.