Are VRBO rates lower now because of COVID? Good time to book for next year

I would not assume rates are lower because of COVID. My experience pertains to England not Italy, but I am currently booking a month-long trip for May, 2022. This trip was originally scheduled for May, 2020. I am finding prices have increased substantially for the same property at roughly the same time. Substantially as in 20-25% higher. There is more flexibility relative to cancellation policies. The situation in Italy may be totally different. Good luck!

I have been following (and booking) VRBO properties for years. I haven't noticed any significant difference since COVID, so I am assuming things are business as usual. Rome, especially, seems close to what I paid 3 years ago.

We’re in Italy right now, and booked thru Vrbo for last week’s stay in Bologna, and for upcoming weeks in Riomaggiore (Cinque Terre) and in Rome. The rates were good, as always, for having a kitchen and washing machine, compared with hotel stays - but no super discounts. In fact, Bologna was a bit pricey, but there was a convention in town, which might have driven up prices a bit.

It doesn’t appear that there’s a huge Vrbo sale going on, and with Italy’s more stringent Covid procedures than we were used to in the USA, the pandemic will likely be getting more and more under control in Italy the future. Lodging might subsequently have more and more interested customers, so less and less incentive for locations to keep prices lower than now. If you find a place you want, and the price works for you at that moment, book it before someone else gets it.

I can not speak directly to Italy, but I suspect there is some underlying commonality across the tourist industry in Europe, maybe with isolated extremes one way or the other.

I have tourism related investments in Budapest so I watch that market closely and if what is going on in Budapest is any indication my observations are:

Short term rentals in most locations are not the huge money makers and with ownership costs generally low; there is no reason or logic to have a fire sale.

BUT, a lot of owners have panicked and sold their units and a number of other locations there has been a crackdown on short term rentals; many/most now sold will never return to the market.

My bet is prices go up over the next several months; short term rentals and hotels and everything else.

Good news is the occupancy in short term rentals (and I assume the hotels) have picked up dramatically in the last 30 days and if nothing changes I think occupancies will be at pre COVID levels certainly by early Spring.