Very much not my experience in Europe. I’d happily live in Airbnbs full time if the price was +~20% long term lease but in my experience the price is >100% even for 1 month stays.

The problem, at least in Europe, is that so many Airbnbs are now being operated as “rent to rent” where a company (or individual) rents property long term specifically so they can then in turn rent it out on Airbnb (often through an intermediary that manages the property for them). The margins they need for confident profitability (considering voids etc) are ~100% over the long term rental cost.

I’m astonished you’ve found that the prices are so similar: which location(s) is this in?

I just moved out of an Airbnb I stayed in for a month where my average nightly cost was, quite literally, 200% over the amount that I would pay if I leased the property myself — and that’s not in peak season, and after negotiating.

5 years ago the cost was pretty similar but not now that Airbnb has become an industry and people have worked out how to squeeze every drop of profit out of it.