Paris Corporate Housing Apartment

Temporary Living Impacts in the Americas, EMEA, and APAC for Q2 of 2024

Dwellworks Living Marketing

Dwellworks Living manages over 20,000 booked reservations in temporary housing annually and delivers temporary living program solutions for the relocation and business travel needs of hundreds of Fortune 1000 companies. Every quarter, we update average daily rates (ADRs) in key bellwether cities and provide insights from local experts on the trends we’re watching.

Read on for the pricing, policy, and travel trends in every major region of the world for this second quarter update.

Americas: Supply and Demand Are Well Balanced For Now

Corporate housing/temporary living options in North America are generally in good supply across all markets since operators have built back their inventory post-pandemic, without overextending their exposure. Relocation activity in the US last quarter was flat compared to last year, and for the most part, average daily rates (ADRs) remain unchanged. There are exceptions based on client needs and competitive markets. For example, supply should tighten in some markets by the third quarter, once intern housing is fully occupied and if relocation activity in general picks up for summer moves.  

New York City, Vancouver, and Mexico City are seeing expanding relocation and business travel volume. Despite the high cost of living, New York continues to grow as a financial services and technology hub. Volume to Mexico City continues to grow in synch with the country’s ‘near-shore’ -focused economy. In Canada, Vancouver is a major corporate hub tied to immigration activity.  

In the regulatory environment, British Columbia enacted regulations on May 1 restricting the use of rental properties for short-term leisure stays, which the government believes keeps rental inventory off the market for local residents. Similar restrictions were enacted in New York City last year for tourist rentals. Corporate housing availability so far has not been impacted in either market.

EMEA: Market-Specific Availability Across the Region

The trends in corporate housing costs and availability in key European cities reflect the circumstances of individual markets. ADRs increased in Dubai, a preferred destination in a turbulent region, and in Paris, as inventory is being secured in advance of expected shortages during the Olympics. London has an excess of corporate housing relative to current demand and Dublin continues to see a leveling off from demand that peaked in the volatile environment of spring/summer 2022. 

Amsterdam, Berlin, Munich, Zurich, and Vienna are at balanced corporate housing capacities primarily because relocation volumes are flat. This availability contrasts with that of unfurnished rentals, which remain in short supply due to increased demand from globally mobile professionals, local new hires, students, and recent graduates.  

Of course, all eyes are on Paris with the Olympic games so close. Most temporary corporate housing is, for the most part, reserved or will be booked within the next month. Our network partners are not charging ‘special event’ pricing for their rentals since they are committed to long-term corporate relationships. Short-term leisure/tourist rentals, however, are experiencing higher costs and are fully booked, except for some luxury, 5-star units. Dwellworks Living encourage our clients to pursue as much advance planning as possible, as travel within the city will be challenging in late July/early August. Read our updated communication on the Paris Olympics below and be sure to listen to our interview with one of our key corporate housing providers for her useful insights. 



APAC: Relocation Activity On the Rise

APAC is an active market for corporate housing as business travel, relocation, and short-term assignments are increasing across multiple locations. While Singapore remains an important travel and relocation hub, volume and ADRs in this market have stabilized as business travel is becoming more evenly distributed across the region, with upticks in activity in most Indian business capitals, as well as in Tokyo, and most noticeably, Hong Kong. We profiled the changing dynamics in Hong Kong in a recent blog here. 

India remains a high-volume market for training, regional relocation, and short-term housing needs. Activity in each major hub is tied to the local industry sector/corporate presence, and the trends change based on employer priorities. Heading into the second quarter, bookings in Bengaluru and Hyderabad have picked up, while activity remains stable in Mumbai. 

The energy sector is important in APAC, but we have not seen any dramatic price swings this past quarter in key markets like Brisbane, Kuala Lumpur, or Jakarta, Indonesia. Read our service offerings for the energy sector at the button below.




How We Do What We Do

Dwellworks Living can save our clients between 10-15% on the cost of their temporary accommodations compared to booking on a one-off or retail basis with individual suppliers. Using our epicR database, we leverage volume and source vetted and competitively priced housing from our 3,500+ corporate housing partners worldwide. Then, we tailor the top options and post-booking services to meet the customer’s expectations.  

To view all Dwellworks Living’s temporary living services, visit our Solutions page. To view our properties around the world, visit our Properties page.


Dwellworks Living: Global Solutions for Corporate Accommodations  

Dwellworks Living is committed to providing our clients and their employees with the best possible corporate housing and serviced accommodations experience. With a global network of property partners, a tri-regional team of customer experience and supply chain professionals, and a wide range of services for global mobility and travel customers, Dwellworks Living can provide the perfect corporate housing solution for any need or budget. 

Dwellworks Living is the global corporate housing solution of Dwellworks, an award-winning, business-to-business provider of global mobility and business travel services. As a global leader in corporate housing and serviced accommodations solutions, Dwellworks Living is uniquely positioned to meet the temporary living needs of businesses and their employees who are relocating or traveling on short-, medium- or extended-stays. With 60,000 high-quality professionally managed properties in over 125 countries worldwide, Dwellworks Living is the preferred housing solutions partner of many Fortune 1000 and leading relocation management companies. 

Dwellworks Living's corporate housing and serviced accommodations solutions are designed to help businesses attract and retain top talent, support employee productivity, and ensure a smooth and successful relocation or business travel experience. In addition to our core global accommodations management services, Dwellworks Living, through our worldwide network of local experts, is uniquely capable of offering our clients expanded and related services, such as area orientations, group move assistance, destination services and intercultural training. 

Whether you have corporate housing needs for an individual employee or a large team, Dwellworks Living can provide the serviced accommodations solutions you need anywhere in the world to ensure a safe and successful stay. Please contact us to learn more or visit our Properties page to begin your search for global corporate housing accommodations.

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