Temporary Living Impacts in the Americas, EMEA, and APAC for Q3 of 2024

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 and emerging enterprises. 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 third quarter 2024 update.

Americas: Corporate Housing Supply and Demand Are In Balance

Not much has changed from our second quarter corporate housing update, which is good news in terms of both pricing and availability.  Corporate housing/temporary living options in North America are generally in good supply across all markets and average daily rates (ADRs) remain largely unchanged from earlier this year. Though supply is balanced at the moment, some markets are still active, more costly, and with tighter supply, with intern moves and other group moves for industries like energy and tech.

Higher hotel costs during the summer months are another factor driving alternative accommodation activity. Cities like Vancouver and New York City are seeing these high costs affect hotel availability and affordability. Despite high rental market demand overall, Dwellworks Living’s reputation and longstanding relationships with our corporate housing partners enable us to keep accommodations costs for extended stays lower than at most hotels.

EMEA: A Calmer Market After the Paris Olympics

With the 2024 Summer Olympic games in full swing, short-term booking demand in Paris has slowed. In Paris specifically, our local experts expect pricing and availability will “return to normal” (normal being a still demanding but less volatile market) by early September, when the Paralympics end September 8^th. In other markets, prices and volume are largely unchanged from last quarter.

Business travel and relocation volumes reflect a continuing corporate focus on cost control, with  few regional exceptions. Zurich, with its fast-growing tech and R&D sectors, and Austria, as a preferred expat assignment location, are the only two key European markets with increased bookings versus same time last year. Note that rates in Dubai have decreased as we enter the summer months.  

To stay informed during the Olympic games and find out what will happen in the market once the games end, read our full Paris corporate housing guide at the button below.

Our Guide to Temporary Housing in Paris

APAC: An Active Travel Market with Adequate Supply

APAC continues to be an active and growing relocation and short-term assignment hub. The energy, technology, and finance industries are fueling this growth – with adequate supply in Brisbane, Kuala Lumpur, and Jakarta, Indonesia. In India, the need for relocation, training, and short-term assignment housing is also growing.

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 or booking extended hotel stays. Using our epic^R database, we leverage volume and source vetted and competitively priced solutions 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. You can also watch our second webinar in our “Essentials of Corporate Housing” out now, covering the ways we source and secure our corporate housing partners and how we ensure the best customer service possible.

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.