Navigating Q2: Rental Market Insights for Global Travel and Mobility

Dwellworks and Dwellworks Living provide comprehensive rental market updates to help clients make informed decisions in key destinations across APAC, EMEA, and the Americas. Our Q2 reports combine macro-level data with local expertise, offering a strategic advantage in discerning policy benefits and managing housing needs for relocating employees and business travelers. 

The impact of new global economic and trade realities will become clearer as the second quarter unfolds. Early in the quarter, however, we see relocation and travel patterns similar to those we saw last year at the end of Q1 2024. Going forward, we expect that businesses will take a measured approach to their mobility and travel investments as they assess new circumstances, risks, and opportunities. 

Globally, overall, we see mostly stable pricing in both short-term rentals for temporary living and long-term rentals for professionals on assignment. In markets that have added rental inventory over the past 12 months, availability has increased, and price increases have moderated. In locations where developers have been reluctant to invest in new properties due to high interest rates, the cost of construction, and unfavorable government regulations or policies, we continue to see limited availability and higher rents.  

Key Trends Shaping Q2 Rental Markets for Relocation and Business Travel 

As the global economy adapts to evolving economic and geopolitical dynamics, we are spotlighting several key trends and influences.  

1.Stabilized Rental Costs in Most North American Markets as Inventory Increases  

Over three-quarters of the high-volume relocation markets that we monitor in the US, Canada, and Mexico reported rental rates that were lower or unchanged versus last quarter. This stability reflects the expanded supply of housing in many markets, leading to a much slower rate of price increases versus previous years, and even landlord concessions in some highly overbuilt markets. What has not changed is the size of the renter population: with mortgage interest rates still high, the market for renters in the US and Canada remains active and competitive in cities where demand still exceeds supply. 

2. Rental Rates Remain High in Some Key Competitive Markets  

In some high demand global gateway cities, like New York, Amsterdam, and Hong Kong, the average daily rates for temporary living accommodations reflect increased demand.  

This is also the case for long term rental rates in these locations and in markets like Paris, Munich, Zurich, and Dublin, where stringent government regulations and limited new construction are impacting the ability to expand supply to meet growing demand. We continue to see limited housing options and hundreds of applicants for each new listing.  

Dwellworks and Dwellworks Living can source housing options no matter what the market, due to our large portfolio of furnished accommodations and our expert, on–the-ground Destination Consultants who have longstanding relationships with landlords and property managers. Our expertise includes advice on managing costs and increases the likelihood of finding ideal housing. In some markets in Europe, for example, our Consultants may recommend looking at more affordable properties with more space, outside of city centres. These choices can be easily reached when first-rate public transportation systems are in place. 

3. Market Growth and Temporary Housing Needs in Emerging Travel Destinations  

Our most active furnished accommodations markets in terms of growth are locations in the Gulf States, including Doha in Qatar and Dubai and Abu Dhabi in the United Arab Emirates, where we have seen the greatest rate of year over year growth in requests for temporary housing. As the region accelerates its economic diversification, we see increased demand from the infrastructure, finance, and consulting sectors. Similarly, many businesses are expanding their Group and Projects programs, primarily for onboarding and training new talent and for knowledge transfer. We see this trend for Group housing support as well in China’s Hong Kong/Greater Bay Area, Tokyo, and multiple locations in India.  

4. Rapid Response is Required to Secure Preferred Accommodations  

Even with ample inventory in many markets and deep sourcing expertise through our Consultants and partners, preferred properties in choice locations are quickly booked or leased. We carefully vet and match the property selections we share with our clients and the individual travelers and relocating employees, and we prepare them for optimal success in their rental housing experience. Under competitive conditions, we guide our customers to understand their options and make informed choices as quickly as possible to ensure a property is secured that will offer the greatest comfort and service support, whether the stay is for 7+ days or a multi-year assignment.  

How Dwellworks Helps Relocation and Business Travel Clients Stay Ahead 

With unmatched destination services expertise in hundreds of local cities across 16 countries and worldwide solutions for temporary living, we provide the industry’s most reliable and actionable insights as well as access to housing that meets employee expectations and corporate budgets. Our knowledge and services empower businesses and their employees to make confident housing decisions.  

Our Q2 reports cover: 

• Rental Market Trends in North America and Europe 
• Temporary Accommodations Trends in APAC, EMEA, and the Americas 
• Pricing and Availability Analysis Across All the Markets We Serve 

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Partnering for Seamless Housing Services and Support at Global Scale 

Dwellworks is committed to streamlining global mobility and business travel with expert insights, market intelligence, and seamless service delivery. Our on-the-ground teams and property partners work closely with property managers and landlords so we can provide up-to-date, reliable housing data and solutions that align with business needs, whether for temporary furnished housing or long-term rentals. 

Whether you’re relocating top talent, managing business travel, or responsible for a full suite of employee accommodation needs, our Q2 market update equips you with knowledge to optimize your program and budget effectively. 

Interested in our latest insights? 

Connect with Dwellworks and Dwellworks Living today to stay informed about the fast-moving global rental landscape for workforce mobility and business travel. 

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About Dwellworks

Dwellworks is the world’s leading provider of accommodation and acclimation support services for the mobile workforce and business travelers. We specialize in global destination services, corporate housing, and intercultural training, as well as property management and real estate services in key US markets.

Our clients trust us to deliver personalized high-quality service experiences, powered by innovative technology and supported by our extensive local presence in hundreds of locations worldwide. Through our brands Dwellworks, Dwellworks Living, and Station Cities, we offer a comprehensive range of service options, global reach, local expertise, and passion for the customer service experience.

Driven by a commitment to excellence, we continuously pursue innovation and operational efficiency and invest in meeting rigorous global compliance standards for data security, financial management, and sustainability. Whether supporting corporate travel or relocation, domestically or around the world, we work in partnership with our clients to ensure talented employees and their families transition smoothly and thrive in their new locations.

For more information, please visit our company brands at Dwellworks.com, DwellworksLiving.com, and StationCities.com.