Fewer pilgrims and falling rates: Rome's Jubilee tourist rental boom fails to materialise

Jubilee.

A connection that, contempt its jovial ring, has sent shivers down nan spine of immoderate Roman for whom it became a shorthand for unaffordable rent, skyrocketing inflation, innumerable roadworks and hordes of pilgrims adding to nan Eternal City’s already unmanageable tourer throngs.

The Catholic Church’s Jubilee — a year-long belief study held from precocious 2024 to 2025 and each 4th of a period successful nan Italian superior — triggered an eager bid of nationalist beautification plans, spearheaded by Rome’s societal media-savvy mayor, Roberto Gualtieri.

It besides came pinch the committedness of complete 30 cardinal pilgrims descending upon nan city.

Landlords and businesses had precocious hopes, particularly pursuing nan pandemic downturn, but it became notoriously unpopular among renters, students and young professionals who feared a worsening cost-of-living situation successful a metropolis (and country) known for net stagnation and meagre employment opportunities.

Midway into nan Jubilee celebrations, Rome looks pristine. Its roads and buildings person been renovated, and nan visitant numbers look strong.

But did it bring nan heralded and feared Jubilee vacation rental boom? Or has it turned into a bust? The stats look to show a alternatively underwhelming picture.

The Jubilee: What’s nan hype?

Every 25 years (bar further “extraordinary” occasions), nan Jubilee is held by nan Roman Catholic Church arsenic a play of forgiveness.

Pilgrims sojourn Rome, nan centre of Catholicism, arsenic portion of a belief travel towards plenary indulgence, aliases nan afloat remission of sins. They walk done the Holy Doors of nan city’s 4 papal basilicas, which are only unfastened successful Jubilee years.

Recent Jubilees person typically been associated pinch a burst successful Rome’s tourer system and awesome nationalist betterment works. Especially nan 2000 Jubilee, which resulted successful galore of nan city’s soot-covered landmarks being restored to their erstwhile glory.

The 2025 Jubilee has been nary exception, arsenic galore of Rome’s astir iconic monuments - from nan Trevi Fountain and Piazza Navona to nan Spanish Steps and nan span of Castel Sant’Angelo - were fixed a facelift.

But nan latest Jubilee was presented pinch an unprecedented issue: nan Airbnb and vacation rental industry, which has already been blamed for suffocating nan renting market and contributing to a worsening lodging crisis.

As debates connected overtourism and its effect became a hot-button rumor successful Europe pursuing nan 2020s post-pandemic boom, galore Romans were concerned astir nan effect nan Jubilee would have, particularly arsenic nan hype surrounding it led to soaring ostentation starting arsenic early arsenic 2023.

Giulio, a 32-year-old doctor, was 1 specified individual who struggled to find a spot to unrecorded aft leaving his level successful February this year. He yet had to relocate to a distant neighbourhood.

“I searched desperately for a [house to] rent that was not exorbitantly priced,” Giulio tells Euronews Travel. “But I discovered that nan neighbourhood successful which I activity – adjacent St Peter’s – has go practically inaccessible to renters, since everything has been utilized for vacation rentals.”

“The renting business is genuinely tragic,” he says.

‘No quality from usual’

Reports starring up to 2025 suggested astir 30 to 35 cardinal pilgrims would flock to Rome, adding to a full of astir 105 cardinal visitors. That would beryllium an unprecedented number for nan Italian capital, moreover surpassing nan caller millennium Jubilee 25 years ago.

But early statistic from this twelvemonth propose nan numbers whitethorn not beryllium rather arsenic encouraging, arsenic reports show only a fewer cardinal pilgrims person travel to nan metropolis since nan commencement of nan year.

The decease of Pope Francis and nan predetermination of a caller Pope, Leo XIV, backmost successful April-May whitethorn person provided a boost, but nan beat connected nan crushed has not suggested immoderate melodramatic upsurge successful tourer arrivals.

A speedy speech pinch section retailers, restaurateurs, taxi drivers and others successful nan hospitality assemblage is each it takes to prime up connected nan alternatively underwhelming fruits of nan Jubilee’s labours.

Federico Ndoj, who runs a well-known English-speaking hairsbreadth salon adjacent nan Spanish Steps, pinch an exclusive array of world clients including American character Jane Fonda, is among nan section business owners disillusioned by nan Jubilee’s expansive promises.

“The highest tourer play is upon us, truthful location are a batch of group coming,” he tells Euronews Travel. “But thing much than usual.”

“I deliberation this full Jubilee point was hyped up to make money,” he adds.

‘An underwhelming start', but tin things prime up?

One of Italy’s biggest property agencies, Tecnocasa, is 1 of nan galore that person reported an underwhelming commencement to 2025, citing an 8-10 per cent driblet successful vacation rentals successful nan first 4th of nan year.

“An oversupply of properties intended for tourism intends not each person been rented out, and immoderate owners are now considering switching backmost to residential leases aliases selling,” Fabiana Megliola said successful an charismatic connection released by Tecnocasa.

Raffaele de Paola, a Roman existent property entrepreneur affiliated pinch Tecnocasa, confirmed nan letdown of early Jubilee results, blaming 2 things: nan wanton optimism of landlords and nan accommodation preferences of pilgrims themselves.

“We entered 2025 pinch rosy projections,” he remarks. “But aft nan first six months, things haven’t gone arsenic hoped.”

“The problem is galore [landlords] were hoping to onslaught golden pinch short-term rentals,” he adds. “But arsenic pinch each things, if you don’t dedicate yourself and commit, things don’t work, arsenic they return clip and effort. Many who rented retired their homes aliases moreover bought spot arsenic an finance are now deciding to return to nan semipermanent rental models.”

De Paola says, “Pilgrims didn’t spell to Airbnbs, they went to convents aliases moreover hotels extracurricular nan city. And galore tourists, aft proceeding astir nan Jubilee, decided not to come.”

But his forecasts aren’t wholly antagonistic - he claims nan summertime trends are boding good for a successful extremity to nan year.

“[Holiday rentals] are recovering successful this 2nd semester,” he claims. “Things person been a success, particularly since nan predetermination of nan caller Pope.”

With an agency adjacent St Peter’s, de Paola says he tin foretell nan spot of immoderate fixed tourist season simply by looking astatine nan queue extracurricular nan Vatican Museums. At times, it’s truthful agelong it extends beyond his building, 400m distant from nan depository entrance.

“Things are going good now,” he stated. “We are connected people for a beardown extremity of nan year.”

‘A disaster - and nan extremity of nan Airbnb trend’

Rosanna De Bonis, nan caput of SoloAffitti, 1 of Italy’s apical rental agencies, paints a little optimistic image for vacation rentals - and notes really nan Jubilee could shingle up nan renting market.

“The results person been a disaster,” she tells Euronews Travel.

De Bonis paints a image of hopeless landlords dealing pinch countless cancellations, forced to driblet their regular rates and backtracking to residential leases.

“The Jubilee sold mendacious hopes,” she says. “People thought they were landing nan bargain of a lifetime, but they pinned their hopes connected pilgrims who ne'er came. I moreover had clients successful nan metropolis centre who had to trim their rates to €100 a night.”

“At nan extremity of nan day, semipermanent rentals supply a benignant of stableness vacation rentals do not,” she added.

More crucially, De Bonis believes that nan disappointing results of nan Jubilee could herald nan opening of nan extremity of nan renting market’s increasing move to Airbnbs, pulling nan breaks connected a worldwide inclination which has been accused of turning cities into tourer playgrounds.

“The vacation rental inclination has reached its peak,” she states.

“Romans get saturated quickly - either they spot contiguous results, aliases nothing,” she added. “And now that nan results aren’t there, much and much landlords want to return backmost to nan erstwhile residential model.”