Demand for Greek Short-Term Rentals Surges in Autumn 2024, AirDNA Reports

Photo source: Airbnb

Greece’s short-term rental market experienced significant growth in demand during fall 2024, positioning the country as one of Europe’s top performers, according to a recent report by analytics firm AirDNA.

The report highlighted a 20.1 percent year-on-year increase in demand, placing Greece sixth among 20 European countries analyzed.

According to AirDNA, the surge was part of a broader trend of double-digit growth across Europe, driven by an uptick in shoulder-season travel during September, October, and November.

Southern and eastern European destinations saw the highest demand increase – boasting over 20 percent year-on-year demand – with travelers gravitating toward these markets during the off-peak months.

Poland led the continent with a 29.9 percent rise in demand, followed by Norway (27.4 percent), Hungary (23.9 percent), Germany (23.1 percent), and the Czech Republic (22.9 percent).

Modest ADR growth for Greece amid stronger performers

While Greece recorded a strong rise in demand, its average daily rate (ADR) saw a more subdued growth of 5 percent during the fall season of September to November.

In contrast, other European markets experienced significant double-digit ADR increases. Denmark led with a 25.6 percent rise, followed by Spain (21.1 percent), Finland (20.4 percent), Hungary (17 percent), and Portugal (15.2 percent).

Revenue per available room (RevPAR) also climbed in these leading markets, driven by robust occupancy gains and double-digit ADR growth.

Overall, Europe’s fall occupancy rates rose 5.2 percent compared to 2019 and 2.1 percent compared to 2023. This recovery contrasts with declines seen in winter and spring occupancy rates, which remain below pre-pandemic levels.

Figures forecast strong start for Europe’s short-term rentals in 2025

Looking ahead, Europe’s short-term rental market is forecasted to start 2025 on a strong note. Current reservations for January show a 16 percent increase compared to the same month in 2024, while February bookings are up 9 percent.

March, however, is expected to see only a 0.2 percent growth in demand, attributed to Easter moving to April this year. This shift is contributing to a significant 38 percent surge in demand for April, reflecting strong interest during the holiday period.