Explore the spectrum of short-term rental costs across Europe with insights for both hosts looking to optimize earnings and travelers seeking the best deals. This guide delves into the most expensive and cheapest destinations, providing strategic tips for profitability as a host and securing budget-friendly stays as a guest.

The Cheapest and Most Expensive Countries in Europe to Visit in 2025

Monaco, Iceland, the United Kingdom, Switzerland and Spain are Europe’s most expensive countries for vacation rentals.

The cheapest countries to visit in Europe are Eastern European destinations like Kosovo, Moldova, North Macedonia, Serbia and Belarus.

Uncover affordable stays in traditionally expensive countries by exploring specific markets that offer lower rates than their national averages.

The European market offers endless opportunities for growth and adventure for short-term rental hosts and travelers alike. With so many destinations to choose from, each with its own unique charm and economic factors, finding the cheapest European countries to visit can make all the difference for budget-conscious travelers. From a host perspective, understanding the most expensive markets helps maximize your earning potential.

AirDNA has analyzed the vacation rental landscape across the continent to help you make the most of your European hosting or travel experience. We've looked at key metrics including average daily rates (ADR), booking lead times, and seasonality patterns to identify the most affordable European countries alongside the most expensive destinations for 2025.

In this guide, hosts can uncover top-performing markets and learn how to maximize their earning potential in even the cheapest countries in Europe to visit. If you're planning your own European getaway, you'll find insider tips on scoring the best deals on Airbnb stays, no matter your destination—whether you're looking for budget-friendly options or planning a luxury experience.

We've created an interactive map displaying the nightly rates, or ADRs, for summer stays across the continent to give travelers a comprehensive overview of the European vacation rental landscape. This map is based on ADR pacing data from June to August 2025. Pacing captures the nightly rate at which reservations are being made for a particular date in the future. The dashboard below showcases the wide range of prices travelers can expect when booking accommodations in different European countries. 

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5 Most Expensive European Countries to Visit

Europe is home to some of the world's most sought-after travel destinations. That popularity comes with a higher price tag!

However, budget travelers can still experience the continent's rich culture and beauty without emptying their wallets by focusing on the least expensive European countries. Hosts, meanwhile, can capitalize on the high demand in these markets by offering competitively priced rentals that still provide a taste of luxury.

AirDNA has broken down the most expensive countries in Europe to visit, highlighting their overall costs while exploring hidden gems where travelers can find more budget-friendly options. We'll also explore what makes these markets so lucrative for short-term rental hosts and offer insights to help maximize Airbnb owner earnings. Later, we'll dive into the cheapest European countries to visit for those looking to explore Europe on a budget.

Monaco, the glamorous principality on the French Riviera, is unsurprisingly one of Europe's most expensive destinations. With 391 short-term rental listings, Monaco offers a range of luxurious accommodations for well-heeled travelers.

The majority of listings are on Airbnb (89%), with 5% on Vrbo, and another 6% listed on both platforms. This distribution suggests that Airbnb is the preferred platform for hosts and guests in Monaco's high-end market.

Travelers planning a trip to Monaco should book well in advance, as the average booking lead time is 51 days. However, this varies throughout the year. September stays require an average lead time of 70 days, while February stays have a shorter average lead time of 29 days.

AirDNA data indicates that a 3-day stay might just be the sweet spot for travelers to the area. Guests average a 3-day reservation, just the right amount of time to fully immerse themselves in the principality's luxurious lifestyle and events, such as the iconic Monaco Grand Prix.

Iceland's rugged beauty and natural wonders make it a top choice for adventurous travelers. The highest-performing market in Iceland is Fagurhólsmýri. Fagurhólsmýri high market score of 99 and its €286.14  average daily rate (ADR) indicates strong demand and revenue potential for short-term rental hosts.

However, budget-conscious travelers can still find relatively affordable options in Iceland. The three markets with the cheapest ADRs and at least 10 listings to choose from are:

While these rates may seem high compared to other European destinations, they offer a more accessible entry point for experiencing Iceland's natural wonders.

The United Kingdom, with its rich history, iconic landmarks, and vibrant cities, is a top destination for travelers worldwide. However, the cost of accommodation in the UK can be steep, particularly in popular tourist hotspots like London. The highest-performing market in the UK is Oxford, with a market score of 100. The £173.92 nightly rate in that area represents a boon for hosts on one hand, and perhaps a hindrance to budget-conscious guests on the other.

For travelers seeking more affordable options, the three markets with the cheapest ADRs in the UK are:

These cities offer a wealth of cultural experiences, dining options, and attractions at a more budget-friendly price point. Hosts in these markets can attract cost-conscious travelers while still enjoying a steady stream of bookings.

Switzerland is a land of striking contrasts, where snow-capped Alps meet serene lakes and cosmopolitan cities blend seamlessly with charming alpine villages. Renowned for its luxury—think five-star ski resorts, world-class watches, and gourmet chocolates—Switzerland also caters to more budget-conscious travelers with scenic rail passes, cozy mountain lodges, and accessible natural wonders that can be enjoyed without breaking the bank.

The highest-performing market in Switzerland is Nyon, boasting a perfect market score of 100. Nyon offers an ADR on the lower half of Switzerland’s average at 109.2CHF.

For budget-conscious visitors, the three markets with 10 or more listings and the cheapest ADRs are:

These hidden gems provide an opportunity to experience Switzerland’s charm and hospitality without the high costs associated with more popular destinations. Out of the 137 markets in Switzerland, 64 have average ADRs of 130CHF or less. This means that travelers have plenty of budget-friendly choices when exploring this beautiful country.

On the other end of the spectrum, 16 of Switzerland’s submarkets have ADRs of 250CHF or higher. Bagnes stands out with an astonishing average ADR of 405.73 CHF, cementing its reputation as a high-end destination. It’s destinations like Bagnes or Zermatt that put Switzerland on the map as one of the most expensive countries in Europe.

For hosts, the dual nature of Switzerland's short-term rental market presents an opportunity to target different segments of travelers. Hosts can attract budget-conscious guests by offering competitively priced accommodations in the more affordable markets. On the other end of the spectrum, STR hosts with properties in luxury submarkets can capitalize on the high-end demand, although high operating costs tend to offer a counterbalance to high nightly rates.

Spain is a country that offers something for everyone, from its walkable cities and rich cultural heritage to its stunning beaches and picturesque villages. It boasts an impressive number of top-performing markets that cater to a range of travelers.

Spain stands out for its high number of top-performing markets, with 27 markets achieving perfect 100 market scores. The top-performing list includes Pozuelo de Alarcón, San Miguel de Abona, Yaiza, Icod de los Vinos, and Puerto del Rosario. The 27 top-performing Spanish STR markets have nightly rates that range from €80 to over €200. 

While Spain is on the list of the most expensive countries in Europe to visit for a reason, it also offers distinctly budget-friendly options for cost-conscious travelers. The three cheapest markets in Spain, based on ADR and considering markets with 10 or more listings, are:

Spain has something to offer whether you're a traveler seeking a high-end experience, an explorer pinching pennies, or a host looking to attract a steady stream of guests.

Eastern Europe emerges as a treasure trove of affordable destinations for budget-conscious travelers seeking to explore Europe without burning through their wallets. This region consistently ranks among the cheapest European countries to visit, with lower living costs and less tourist saturation compared to their Western counterparts. The countries on this list offer unique cultural experiences, stunning natural beauty, and rich history at a fraction of the cost, making them perfect for travelers looking for cheap European countries to visit in 2025.

For hosts, these affordable European markets present a chance to attract cost-conscious travelers. Airbnb operators can tap into the growing demand for unique and immersive travel experiences in these lesser-known destinations by offering affordable, high-quality accommodations and local insights. Plus,  hosts can differentiate their properties from those in more expensive markets by highlighting the exceptional value of staying in the cheapest countries in Europe as part of their marketing strategy.

Moreover, the lower seasonality in these markets allows hosts to maintain consistent pricing and occupancy rates throughout the year. This translates into more predictable income and a more stable and sustainable short-term rental business.

Kosovo, a hidden gem in the Balkans, offers travelers an affordable and authentic cultural experience. The highest-performing market in Kosovo is Rajoni Prishtines. Rajoni Prishtines has a market score of 98 and a modest ADR of just €37.6, making it the second-cheapest market in the country.

The most expensive market in Kosovo is Kopaonik, with an ADR of €106.57. Even at its priciest, Kosovo remains an affordable destination compared to many other European countries.

Moldova, a small country nestled between Romania and Ukraine, is known for its rolling hills, picturesque monasteries, and delicious wine. With 5 markets and 2,500 STR listings, Moldova offers budget-friendly options for travelers.

North Macedonia, a country rich in history and natural beauty, offers travelers an affordable and memorable experience. With 3 markets and 3,600 STR listings, North Macedonia offers enough variety for potential STR investors, hosts, and visiting guests to work with.

Serbia, a country offering traditional festivals, unique cuisine and warm hospitality, is sure to offer travellers an unforgettable experience. The top-performing market in Serbia is Belgrade, which has an impressive market score of 96 and an average ADR of €60.6. The second-highest market score in the country is 84 for Novi Sad, closely followed by the Nisava District with a score of 78.

With a total of 6 markets and a range of affordable ADRs, Serbia offers budget-conscious travelers a chance to experience its lively cities, stunning monasteries, and delicious cuisine without breaking the bank.

Belarus, a country that has yet to be discovered by the masses, offers travelers a unique blend of Soviet-era architecture, lush forests, and friendly locals. Belarus has just one market, Minsk, that has an ADR of $68.27 USD or 222.44 BYN. With a total of only 27 STR listings, Belarus presents an opportunity for adventurous travelers and hosts alike to explore an untapped market.

Additional Budget-Friendly European Destinations

Eastern and Southeastern Europe have become magnets for budget-conscious travelers, offering daily expenses that can be half of what you'd spend in Western capitals. Countries like Bulgaria, Romania, Poland, and Hungary stand out for their wallet-friendly accommodations, easy-to-use public transport, and abundant cultural attractions. 

Heading even further north, the Baltic cities of Riga and Vilnius balance historical charm with surprisingly low costs on food and lodging. Meanwhile, Balkan gems like Albania, Bosnia & Herzegovina, and Montenegro showcase Mediterranean beaches and hospitable mountain towns without the hefty price tag you might expect. 

These regions consistently top “best value” lists, making them prime spots for those looking to stretch their euros. With fewer crowds than major hotspots, travelers can explore medieval fortresses, UNESCO sites, and vibrant local customs on a modest budget.

Your vacation rental may be amazing, but is it better than your competition? Connect your Airbnb listing to AirDNA to see its Booking Performance Score.

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For travelers aiming to make every euro count, an itemized approach reveals just how economical Eastern Europe truly is. Here's what your daily budget might look like in the region's most affordable destinations:

Accommodation: As we've showcased, nightly stays often dip below €60 in cities like Rajoni Prishtines, Orhei, and Ohrid.

Meals: Expect to pay just €5–10 for quality local dining experiences

Transportation: Public transit typically costs €0.50–1.50 per ride, with day passes around €4

Activities: Many museums offer free entry days or discounts under €5

Local experiences: Walking tours often run on a tip-based system (€5–10 suggested)

Visit North Macedonia, Albania, and Bosnia & Herzegovina for their abundance of free or low-cost cultural events

Explore lesser-known gems like Korca (Albania) or Košice (Slovakia) to avoid tourist congestion and inflated prices

Stay longer in one location to negotiate weekly or monthly accommodation discounts (often 20-30% off)

Take advantage of significantly lower tourist taxes (sometimes under €1 per night compared to €5+ in Western Europe)

Use local transportation apps rather than taxis to save up to 70% on getting around

Map out all potential expenses beforehand to comfortably plan multi-country trips or long-term stays without exceeding your budget. This data-backed strategy leaves you with more resources to invest in authentic local experiences rather than high lodging fees.

Finding Cheap Stays in Expensive European Countries

While national ADRs provide a general overview of a country's pricing, it's crucial to understand that these averages don't tell the whole story. Even within the most expensive countries, savvy travelers can find affordable options by exploring specific markets that deviate from the national average.

Spain and Greece, for example, have high national ADRs, placing them among the most expensive destinations in Europe. However, diving deeper into the data, we discover that some of their cheapest markets offer surprisingly budget-friendly options for travelers. Visiting a country known for its high prices isn’t out of reach, even if your financing is limited. Target the least expensive European countries or affordable regions within pricier destinations to stretch your travel budget significantly further.

How can hosts that are welcoming guests in affordable markets within more expensive countries make the most of their position? Attract cost-conscious travelers by offering competitive rates. AirDNA's rate recommendations take into account market conditions and what similar short-term rentals in your area are charging so you can offer reasonable rates that still help your bottom line. Use the accessibility of your destination as a foundation for your marketing efforts.

When to Visit Europe for the Cheapest Rates

Seasonality plays a crucial role in determining vacation rental rates across European destinations. In the short-term rental industry, seasonality refers to the fluctuation of bookings and prices throughout the year. Reservation rates and ADR are often influenced by factors such as weather, holidays, and local events. As a host, understanding seasonality patterns can help you adjust your nightly rates in response to fluctuating demand. As a guest, taking into account high and low seasons can help you make informed decisions about when to travel and where to find the best rates.

AirDNA's seasonality score measures how much seasonality affects a particular market, with a high score indicating low seasonality and consistent bookings throughout the year. Markets with low seasonality tend to have more stable ADRs, meaning you can expect similar rates regardless of when you visit. These destinations are often popular with travelers year-round, either because they offer a range of activities suitable for different seasons or because their climate is a lesser determining factor compared to ski or beach destinations.

Let's take a closer look at Ibiza to illustrate the impact of seasonality:

Ibiza has a seasonality score of 45, indicating notable seasonal variation in short-term rental demand. Looking at 2024, Ibiza’s rates peaked in August (€328) and July (€316) and were lowest in February (€152). You can see on the chart that February 2025 defied the norm, with a €174 ADR that was significantly higher than historical trends. 

The number of active listings in Ibiza also fluctuates throughout the year. In February 2025, there were only 115 active listings, which almost quadrupled to 400 by May.

For more insights on the European vacation rental market, check out our monthly European market review.

AirDNA’s powerful yet easy-to-use tools make hosting and investing a breeze. This means having every insight you need, all in one place, always up-to-date.

What is the least expensive European country to visit?

Based on vacation rental data and cost-of-living benchmarks from Eastern and Southeastern Europe, Kosovo stands out as one of the cheapest countries to visit. Several Balkan destinations align closely with Kosovo’s affordability, often providing daily tourist expenses—outside of accommodation—under €30. According to AirDNA research, Moldova, North Macedonia, Serbia, and Belarus North Macedonia also offer some of the lowest short-term rental nightly rates available in Europe. If you’re looking for the best budget experience, consider focusing on the lesser-known Balkan cities, where tourist crowds haven't driven up prices. Even in prime travel seasons, these destinations typically remain well below Western European rates.

What country in Europe is the cheapest to fly to?

While flight costs fluctuate seasonally, the research suggests that Central and Eastern European nations often boast the most economical fares. Travelers report year-round deals to cities like Prague, Budapest, and Warsaw for much less than flights into Western European hubs. The Czech Republic, in particular, is known for fairly consistent flight bargains, with some routes averaging only a few hundred euros round-trip. Albania and other Balkan countries also gain traction among budget airlines, especially during shoulder seasons. Monitoring comparison sites and booking several months in advance usually helps secure the best price.

Which city in Europe is the cheapest for vacation?

Many travelers point to cities in the Balkans and Eastern Europe as clear front-runners for a truly cheap vacation. According to the research, cities like Skopje in North Macedonia and Belgrade in Serbia offer extremely low daily budgets yet deliver rich cultural experiences. Chisinau in Moldova and Minsk in Belarus, or Kosovo's capital Prishtina, also come in at notably reduced costs compared to the rest of Europe. 

What is the best city to spend 3 days in Europe?

If you’re seeking a blend of history, cuisine, and walkability, it’s hard to beat a mid-sized Eastern European city like Budapest or Krakow. Both offer scenic old towns, UNESCO World Heritage sites, and vibrant nightlife, all at prices below those in Western capitals. In just three days, you can visit thermal baths or medieval castles, sample local comfort food, and explore centuries-old architecture. Many Central European gems remain underrated, leaving you with fewer crowds and better deals.

Discover Europe’s cheapest (and priciest) countries to visit in 2025. Explore hidden gems, compare rentals, and learn how to save big as a traveler and host smartly.

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The Cheapest and Most Expensive Countries in Europe to Visit in 2025

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