Ten Companies Control a Quarter of Tourist Rentals in San Sebastián

• The supply of tourist apartments on Airbnb in San Sebastián has stabilized, yet average nightly rates have surged by over 72% in five years.
• Market professionalization is evident, with the top 10 rental management firms controlling 27.9% of all listings in the city.
• High concentration in central neighborhoods has fueled significant displacement of local residents and driven up general housing costs.

Market Trends and Pricing

• As of September 2026, there are 1,626 active Airbnb listings in the city, virtually unchanged from 2025.
• Average nightly rates rose from 168.83 euros in 2021 to 290.58 euros in 2026.
• Roughly 76% of listings are entire homes, and the profitability of tourist rentals is estimated to be up to three times higher than long-term residential leasing.

Neighborhood Distribution and Resident Impact

• The Centro (Erdialdea/Parte Vieja) and Gros neighborhoods account for 60.1% of the city's total Airbnb supply.
• Gros, in particular, is the only neighborhood in the city to experience continuous population decline since 2004, a trend attributed to tourism-driven gentrification.
• As the city council tightened regulations in central districts, pressure has shifted to surrounding areas like Intxaurrondo, causing localized price spikes.

Regulation and Community Response

• While the government is proposing stricter licensing and monitoring, critics point to a lack of enforcement resources, noting that few personnel are assigned to monitor illegal activity.
• Neighborhood organizations like Bizilagunekin are demanding a complete prohibition of new licenses, the conversion of current ones into non-renewable temporary permits, and stricter limits on ownership.
• Residents are increasingly using civil strategies, such as amending building bylaws to prohibit tourist rentals, as a faster alternative to municipal regulation.