India Short-Term Rental Market Review 2025: Revenue, Occupancy & Supply Growth
India Short-Term Rental Market Overview 2025
Number of Airbnb Listings Changes in India 2025
Which markets are experiencing rapid saturation?
A key consideration when entering a new short-term rental market is assessing whether it may become oversaturated. To evaluate this, we analyze the year-over-year supply change in Airbnb listings. The national average YoY supply change in India was 48.58% in 2025, indicating the overall growth trajectory of the market.
Markets with Largest Absolute Supply Increases in India
In absolute terms, Goa experienced the largest increase with +2,325 new listings added in 2025. This was followed by Bengaluru (+1,692 listings) and Mumbai (+910 listings).
Markets with Fastest Relative Growth in India
In relative terms, Chandigarh experienced the most significant growth, with 73.95% more supply added over the 12-month period in 2025. Other rapidly expanding markets include Hyderabad (+70.42%) and Varanasi (+66.41%).
Short-Term Rental Revenue Trend in India 2025, and Future Outlook for 2026
Does increased supply necessarily indicate market saturation?
To assess market saturation, we examine year-over-year revenue trends. A decline in revenue per listing typically indicates heightened competition and potential oversaturation. The India average YoY change in revenue was -2.69% in 2025, representing an increase from $6,011 in 2024 to ₹488,203 in 2025.
Top Markets Revenue Performance
Goa
Bengaluru
Mumbai
For more detailed revenue YoY change analysis by market, access the Airbtics dashboard to explore specific market performance metrics.
Easiest Markets for Hosts in India 2025
Markets with high occupancy rates provide hosts with greater booking consistency, while markets with high booking volumes offer expanded opportunities across various property types and sizes.
Highest Occupancy Rate Markets in India 2025
Mumbai recorded a year-round occupancy rate of 58.00%, which is among the highest in India. This was followed by Chennai (53.00%) and Bengaluru (49.00%).
Highest Booking Volume Market in India 2025
Markets with high booking volumes present additional advantages, as they offer diverse opportunities across various property types and price points. The market that recorded the highest booking volume in India is Goa, with approximately 1,692,340 nights booked in 2025.
Regulatory Landscape
We define a professionalized or strictly regulated market as one where over 50% of active Airbnb listings hold valid license information, indicating consistent enforcement and higher compliance. Markets below this threshold are considered unregulated or lenient.
In India, 0 out of 20 markets fall into the professionalized / strict regulation category. For detailed license compliance data and market-specific regulatory insights, the Airbtics dashboard provides the percentage of listings with valid licenses for each market, enabling investors to assess regulatory risk at a granular level.
Which India Markets Are Growing Healthily vs Overheating?
Understanding market saturation requires looking at both supply growth and revenue trends together. Markets are categorized by comparing their YoY supply and revenue changes against India's national averages. Markets where supply is growing faster than revenue (relative to national averages) may be approaching saturation, while markets with below-average supply growth but above-average revenue growth may present hidden opportunities.
Benchmark: Markets are categorized relative to India's national averages (Supply: 48.6%, Revenue: -2.7%). Markets above the national average are marked with ↑, while those below are marked with ↓.
Healthy Growth
Supply > avg, Revenue > avg
Expansion with demand keeping up
- Varanasi Supply: +66.4% | Revenue: +8.0%
- Dehradun Supply: +55.4% | Revenue: +6.2%
- Rishikesh Supply: +50.4% | Revenue: +0.0%
Early Saturation
Supply > avg, Revenue ≤ avg
Competition rising
- Chandigarh Supply: +74.0% | Revenue: -8.5%
- Hyderabad Supply: +70.4% | Revenue: -13.6%
- Gurgaon Supply: +64.9% | Revenue: -3.0%
- Pune Supply: +59.4% | Revenue: -14.6%
- Guwahati Supply: +52.1% | Revenue: -8.9%
Under-the-Radar
Supply ≤ avg, Revenue > avg
Hidden opportunities
- Noida Supply: +47.8% | Revenue: +15.3%
- Kochi Supply: +42.0% | Revenue: +5.8%
- Jaipur Supply: +44.9% | Revenue: +2.9%
- Manali Supply: +33.3% | Revenue: -0.1%
Declining
Supply ≤ avg, Revenue ≤ avg
Risky markets
- Lonavala Supply: +38.0% | Revenue: -13.0%
- Goa Supply: +30.8% | Revenue: -6.0%
- New Delhi Supply: +41.3% | Revenue: -5.8%
- Bhowali–Nainital Supply: +30.2% | Revenue: -4.2%
- Kolkata Supply: +33.6% | Revenue: -4.0%
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+3 more markets
Bengaluru, Chennai, Mumbai ×
For the latest updates of the market data in India, check out our Best Airbnb Markets in India.
All metrics are calculated using active short-term rental listings tracked weekly by Airbtics. Revenue, occupancy rate, ADR, and supply growth are estimated from historical booking calendars, listing activity, and proprietary aggregation models.
Source: Airbtics
Learn data methodology →
Cite this report
Airbtics (2026). India Short-Term Rental Market Review 2025: Revenue, Occupancy & Supply Growth. https://airbtics.com/short-term-rental-market-report-2025-india
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