Airbnb Beds in Greece Reach 1 Million, Says INSETE

Short-term rentals in Greece have skyrocketed over the last few years reaching 1 million beds, according to data released this week by INSETE, the Greek Tourism Confederation’s (SETE) research body.

The number of Airbnbs continued to grow in 2024 reflecting strong demand, said INSETE analysts with January’s figure reaching 190,000 up by 10.2 percent over 2023.

The increase continued in February (+11.3 percent) and March (+11.6 percent) with the number in April reaching 212,000 and 218,000 in May (+11 percent).

In terms of bed capacity, in the January-May period beds available through Airbnb platforms reached 961,837.

Occupancy levels meanwhile started at 12 percent in January, 10 percent in February, 16 percent in March, 23 percent in April and reached 30 percent in May.

The analysis of the occupancy rate for 2024 shows stability compared to 2023, despite the increase in the supply of accommodation and beds. This suggests an increase in demand along with supply. Photo source: INSETE

Average length of stay in the five months appears to have declined compared to the year-ago period. Starting with 3.5 overnights in January up from 3.3 last year, 3.7 in February up from 2.8, 3.5 in March, down by 1.5 percent over the same month a year ago, April (-1.5 percent), and May 3.5 nights down by 10.0 percent.

According to the same report, 60 percent of people renting Airbnbs were international visitors and 40 percent Greeks. A trend which continued for in most of the five months with a rise in international visitors in April and May.

The average length of overnight stays in the period January-May 2024 appears to have declined compared to 2023.

According to reports, increasing Airbnb activity in cities worldwide has led to a severe housing problem.

Earlier this week Spain announced that it would be banning short-term rental activity as of 2029. In an interview to OT, Athens Mayor Haris Doukas said overtourism was a “real threat” to European capitals with the number of Airbnbs in Athens up by 21.3 percent compared to 2023. According to Doukas the largest increase has been reported in Exarcheia, Monastiraki, Psyrri, Plaka and the Acropolis.