Greece Breaks 12-month Short-term Rentals Record

Demand for Airbnb-style rentals in Greece is growing by the day boosting average occupancy levels in the year to April past those of other European countries, said analytics firm AirDNA this week.

Average occupancy levels in Greece increased by 9.2 percent year-on-year to 52.3 percent in April or 949,700 overnight stays.

According to AirDNA analysts, demand for short-term tourist rentals increased by 31.7 percent while property supply rose by 13.2 percent boosting average occupancy for the month by 9.2 percent year-on-year.

Average price per night also rose by 16.6 percent compared to the previous year to 186.45 euros.

Looking ahead, AirDNA analysts are expecting the dynamic in Greece to continue, forecasting an annual growth of 42 percent in the May-October period for Greece based on bookings made so far compared to 20 other European countries under review.

Overall in Europe, revenue increased in April by 46.7 percent year-on-year and by 81.5 percent over 2019, available listings were just above 2019 levels (+3.2 percent) and up by 14.9 percent year-on-year, total demand in nights rose by 26 percent year-on-year and by 26.4 percent from 2019, occupancy was up by 4.2 percent over 2022 and by 6.9 percent compared to 2019, ADR rose by 16.4 percent year-on-year and RevPAR by 21.3 percent year-on-year and by 52.5 percent over 2019.

According to AirDNA’s assessent of demand among the Top 20 European countries, Greece together with Poland and Austria led the way in growth for nights booked between May and October, with 63 percent, 48 percent, and 42 percent growth, respectively compared to last year.