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What has happened? The Greek short-term rental market continues to lead Europe in several categories. Booking data shows that demand from foreigners as well as Greek guests is especially high.
Details. According to AirDNA’s latest monthly survey of the European short-term rental market, during the 12 months to the end of April this year Greece recorded the largest increase in average occupancy among all European countries.
The data shows that the average occupancy rate has increased by 9.2% year-on-year and reached 52.3% in April this year (949,700 overnight stays). It has to do with the balance between supply and demand. According to AirDNA analysis, demand over the past year has grown by 31.7%, while the supply of housing has increased by only 13.2% over the same period (104,000 listings nationwide).
Accordingly, the average price per night has increased by 16.6% compared to last year and now stands at €186.45. This is a particularly significant amount, which demonstrates the established balance between supply and demand for accommodation, as well as the fact that the quality and characteristics of the housing offered have improved dramatically since the pandemic.
Context. Based on AirDNA data on bookings made to date in 20 European countries, Greece will record a 42% annual growth from May to October. This is the third-best indicator in Europe and the best among the rest of the countries of the European South. The largest growth of 63% was recorded by the Polish market, followed by the Austrian market with a growth of 48%.
Source: Ekathimerini
Photo by Sonya Brady on Unsplash
