Greece Among Top 5 Countries with Most Expensive Airbnb Prices this Past Year

Greece is among the 5 countries in Eastern Europe where prices to stay at Airbnb-style rentals reached new heights during the last 12 months.

According to analytics firm AirDNA, the absence of Covid-19 restrictions, the return of international travel, a recovering economy in Europe, and growing consumer confidence caused travel demand to soar and drive up average daily rates (ADR).

“Demand grew 19 percent year-over-year (YOY), leading to an equally staggering 15.7 percent YOY increase in ADR,” AirDNA said in its latest report.

The latest data shows that ADRs for short-term rental stays across European countries this past year ranged anywhere from less than 50 euros a night to more than 300 euros per night.

Most expensive: Monaco

Taking the lead for the most expensive European country for short-term rental stays over the last 12 months is Monaco with the average ADR at 338 euros a night. Other notable countries that led the European continent in high average ADRs over the last year were Iceland (231 euros), Switzerland (208 euros), the United Kingdom (205 euros) and Greece (203 euros).

Source: AirDNA

Most budget-friendly: Moldova

On the other hand, the cheapest short-term rental stays in Europe since summer 2022 were found in Moldova with the average ADR at 47 euros. Other countries with inexpensive STR stays this past year include North Macedonia (48 euros) and Albania (60 euros), which has been trending lately.

Seasonality

According to AirDNA, the time of year one travels can have a large impact on the prices they pay for their European vacation.

“If the market is highly seasonal, you’ll save a lot by traveling in the low season,” AirDNA notes.

Across Europe, average ADRs for short-term rental stays tend to be highest around mid-August and the lowest around the beginning of February.

In 2022, European travelers paid 162 euros per night during the second week of August, making it the most expensive week for STR stays that year. Those who traveled to Europe the first week of February — the cheapest week for STR stays last year — paid 36 percent less (119 euros per night).

With regards to Greece, a country with high seasonality, the cheapest time to stay is in February and the most expensive is in July, according to AirDNA’s data.

Cheapest European destinations this fall

Topping AirDNA’s list of cheapest destinations this fall are Eastern European capitals. The capitals of North Macedonia, Kosovo, Moldova, Albania, and Montenegro have average ADRs below 50 euros for September and October.

Cheap destinations in the more expensive Western-European countries include Birmingham, UK (137 euros); Arnhem, Netherlands (139 euros); Luxembourg City (154 euros); West Mayo, Ireland (168 euros); and Reykjavík, Iceland (243 euros).