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Country Houses Owners in Greece Rent Out More Often

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...to service loans or cover high maintenance costs.

More and more property owners decide to offer their country houses on online short-term rental platforms this winter to service the loans they took 10-15 years ago, or to cover the high maintenance costs of such real estate.

Signs. According to data for this year (as of December 8) collected by the short-term rental research company AirDNA, the supply of housing in the most popular winter resorts has increased significantly compared to last year or 2019.

Numbers. In the wider area of Arachova, Central Greece, 173 properties are offered for rent in December this year, which is 15% more than last year, but also 12% less than 196 in December 2019. In January, the supply is 165 units, 6% more than last year. In Karpenisi, also in Central Greece, 78 apartments are being offered this month, which is 32% more than last year and 11% more than in 2019, and in January 2023 the growth will be 44% compared to the corresponding month of 2022 and 11% compared to the previous one a month. There is also an increase in the supply of housing in Kalavrit in the Peloponnese by 14% compared to last year.

Bids. As for prices per night, the larger territory of Arakhov charges an average of €304 in December and €309 in January, which is 4% and 8% higher compared to the corresponding months of 2021/2022, but also 8% and 35% higher than in the corresponding months of 2019/2020. In Kalavrit, the average rate for December is 20% higher compared to 2019 and is €179, which is 7% higher than last year.

On the contrary, the increase in supply this year, especially in Karpenissi, seems to harm housing prices, as in December there is an annual decline of 16% to €210 per night. In January, the average rate is much higher — €314, but still 5% less than a year earlier.

It is noteworthy that the number of bookings seems to have increased compared to the previous year, especially in January.

Source: Ekathimerini
Photo by Dan on Unsplash

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