This is what you should know when visiting Munich and staying in an Airbnb.

Munich is one of the most liveable cities in the world and very popular among tourists. Who doesn’t want to think about enjoying a beer at the Oktoberfest? Or strolling through the English Garden or taking a trip to the Alps? Unfortunately, Munich is also one of the most expensive cities in Germany. So how about a small budget trip to Munich with Airbnb? I have analysed the Airbnb data of Munich and discovered how to win the Airbnb business in Munich. On the one hand, I explored what factors influence the price of an Airbnb, how hosts get good reviews and how this knowledge is useful for guests to find particularly interesting Airbnb deals with a good price performance ratio.

1. Which factors influence the price of an Airbnb?

The price of an Airbnb is mainly influenced by the location and the room type. Fair enough, that seems obvious. But if you look more closely, no pattern can be observed, which means that the price varies greatly depending on the neighbourhood and the type of Airbnb room. You can use the following chart to get an idea of what price is appropriate for your specific location. This information is supportable for Airbnb’s with a price range of 10 to 190 €. One host behavior regarding the price could also be detected. Hosts with a listed Airbnb, which is usually cheaper, tend to have a shorter response time. They probably want to score points with a good service and brush over possible weaknesses of airbnb.

2. How to receive amazing reviews?

Reviews are probably the most important source of trustworthy information when guests decide to book an Airbnb. For this reason, hosts should make sure to get great reviews. Therefore, it is important to know what makes a good review. While the data shows that reviews also vary depending on the location, it also shows that hosts have the most influence on a good review in their own hands. It is mainly the host’s communication, the accuracy of the information in the ad and the cleanliness of Airbnb that lead to a good rating. In addition, shared rooms seem to have a better rating, which is probably because the host has a personal contact with the guests. So whenever possible, be nice and courteous and keep the personal contact to make your guests feel comfortable. The following graphs show the correlation between the factors described.

3. So how can an Airbnb user benefit from this?

This knowledge can now be used specifically to find Airbnbs that are as cheap as possible but still offer very good quality. Based on an average Airbnb price depending on the location and room type, as well as information regarding review ratings, I was able to find Airbnbs using a search algorithm. These Airbnbs seem to be a particularly good catch if you are travelling to Munich. They are listed in the table below.

Conclusion

If we take everything into account, it becomes apparent that the price distribution on the Airbnb market in Munich is very different. The factors location and type allow us to reach a first estimate of the price. Besides determining the price, I have found that a good valuation is mainly in the hands of the host. If the host is characterised by good communication, accurate information and the Airbnb is clean, half the battle for a good rating has already been won. Although Airbnb provides a lot of data for pricing, it is possible to find isolated flats that represent a particularly good deal.
Ultimately, is this information helpful in making your holiday in Munich a little more relaxed and affordable?

You can find more information on my Github Repo.