The 10 Asian markets with the best short-term rental returns

Starting a short-term rental business can be very lucrative if done correctly. One of the biggest initial hurdles is picking the right market to purchase a property, which can play a large role in an investment’s earning potential.

The short-term rental analytics platform AirDNA broke down the markets in Asia that can provide top returns on vacation rentals.

The data focused on Asia’s 10 largest countries for short-term rentals which are, in no particular order: Japan, Thailand, United Arab Emirates, India, Indonesia, South Korea, Philippines, Malaysia, Vietnam, Saudi Arabia — and only included markets with 20,000 or more short-term rentals.

Here are 10 Asian markets offering top returns, ranked by average annual revenue:

Average annual revenue: $61,813

Average daily rate: $413.12

Approximate annual occupancy: 50.9%

Located in the Japanese Alps, Hakuba is a popular destination for winter sports. The village was home to the 1998 Nagano Winter Olympics, and has remained famous for its ski resorts, mountainous scenery and hot springs.

Average annual revenue: $44,737

Average daily rate: $248.90

Approximate annual occupancy: 54%

Onna is a village located on the coastline of the island of Okinawa. The village is known for its luxury seaside resorts, beaches, and coral reefs.

Average annual revenue: $43,882

Average daily rate: $181.28

Approximate annual occupancy: 69.7%

Kyoto is one of Japan’s most popular tourist destinations. Located on the island of Honshu, the city is famous for having served as Japan’s capital for over 1,000 years until about the mid-19th century. The city is also often visited for its temples, shrines, palaces and other historical structures.

Average annual revenue: $43,465

Average daily rate: $311.44

Approximate annual occupancy: 58.9%

Ko Samui, also known as Koh Samui, is a popular tourist destination. Located in the Gulf of Thailand, the island is widely known for its resorts, white sand beaches and cultural attractions.

Average annual revenue: $42,829

Average daily rate: $160.09

Approximate annual occupancy: 78.2%

Tokyo, the capital of Japan, is also the world’s most populous city with over 37 million residents as of 2025, according to data from the World Population Review. The city is also one of the most popular tourist destinations in the world, and is famous for its cultural and historical sites, food and restaurants, and shopping.

Average annual revenue: $35,842

Average daily rate: $140.81

Approximate annual occupancy: 72.6%

Hakata-ku, is a ward in the city of Fukuoka in Japan. The ward is known to be home to several major festivals, including the annual Hakata Dontaku Festival — one of Japan’s largest festivals — which draws about 30,000 participants and more than two million spectators. The ward also has one of Japan’s oldest Zen temples, and is famous for its ramen: the Hakata tonkotsu ramen.

Average annual revenue: $31,642

Average daily rate: $153.18

Approximate annual occupancy: 61.1%

Chuo-ku, or Chuo City, is a special ward in Tokyo. It is also home to the Tokyo Stock Exchange, and is known for its shopping, nightlife, luxury real estate and buzzing business district.

Average annual revenue: $28,381

Average daily rate: $223.05

Approximate annual occupancy: 59.6%

Phuket is the biggest island in Thailand and one of the southern provinces of the country. It is famous for its beaches, resorts, spas, restaurants and vibrant nightlife.

Average annual revenue: $27,798

Average daily rate: $205.57

Approximate annual occupancy: 59.5%

Dubai is the most populous city in the United Arab Emirates, and it is becoming a global hub for tourists and digital nomads. The city is home to iconic landmarks such as the Burj Khalifa, which is the world’s tallest building. It is known for luxury shopping and lively nightlife.

Average annual revenue: $26,696

Average daily rate: $224.52

Approximate annual occupancy: 45.5%

Assagao is an inland village in Goa, India. The village is known for its shops, restaurants and colonial era villas.

Want to make extra money outside of your day job? Sign up for CNBC’s online course How to Earn Passive Income Online to learn about common passive income streams, tips to get started and real-life success stories.

Plus, sign up for CNBC Make It’s newsletter to get tips and tricks for success at work, with money and in life.