Summer Demand for Airbnbs in Greece Driving Prices Up

Photo source: Airbnb

Short-term tourist rentals in Greece are so high in demand this summer that prices have soared, found data released this week by analytics experts AirDNA.

The average cost of Airbnb-style rentals in Greece appears to be the second highest in Europe, AirDNA said, reaching 253 euros. Rates in Greece are the second highest after Iceland, Monaco and the UK with going rates there at 261 euros.

Source: AirDNA

In the meantime, demand for short stay accommodation in Greece for the months of June, July and August is up by 17 percent compared to the year-ago period with average daily rate (ADR) up by 1 percent over 2023.

Destinations with the largest ADR growth driven by strong demand are Denmark (+27 percent), the UK (+16 percent), Spain (+14 percent), Poland (+13 percent), and Germany (+13 percent).

Athens is among the most in demand destinations for Airbnb-seekers marking a 19 percent rise for the peak summer months over last year. Other cities winning over Airbnb users are in Spain and Eastern Europe.

According to AirDNA data, current demand for Europe is pointing to another “record breaking summer” with June and July marking a 17 percent increase in demand year on year and August up by 22 percent.

The five countries seeing the greatest demand this summer are Finland (+31 percent), Norway (+30 percent), Poland (+29 percent), Germany (+29 percent), and the Czech Republic (+26 percent). Overall, Greece ranks 14^th in Airbnb demand this summer.

Demand is slow compared to last year for the Netherlands (+14 percent), Portugal (+14 percent), Croatia (+14 percent), Italy (+13 percent), and Ireland (+12 percent).