The short-term rental market in Greece continues to show impressive growth, cementing its position as one of the most popular short-term rental destinations in Europe. According to data from Beyond Pricing, in 2024 there was a 25.6% increase in the number of listings compared to 2023, with a total of 178,000 active listings. Of these, 84% relate to entire homes, reflecting the high demand for privacy and amenities.
Increased supply and hot destinations
The increase in accommodation supply is most strongly reflected in popular destinations:
- Athens and Thessaloniki: An impressive 43% increase, indicating demand for urban centers that act as gateways to the rest of the country.
- Crete, Rhodes, Santorini and Mykonos: With increases of 19-26%, island destinations continue to attract tourists seeking luxurious and authentic experiences.
Occupancy and Average Prices on Airbnb in Greece
During the summer (June-September), destinations showed mixed performances in terms of occupancy and average daily rates (ADR):
- Milos: Leading the way with occupancy of over 75% and ADR close to €350, while occupancy increased by 2%.
- Mykonos and Santorini: Remain top choices with ADRs of €400 and €320 respectively. However, occupancy decreased slightly in Santorini (-2%).
- Athens and Thessaloniki: They showed stability or a slight decrease in occupancy, with average prices at €130 and less than €100 respectively, reflecting the more stable nature of urban markets.
- Rhodes and Crete: Similar performance with occupancy around 65% and ADR at €150 and €250 respectively, demonstrating the resilience of traditional family destinations.
Beyond Pricing data here
Bookings and traveler behavior
The average length of stay (LOS) at Airbnb-style accommodations in Greece decreased slightly to 4.9 days in 2024 (from 5 in 2023), with 50% of bookings ranging between 3-7 days during the high season. At the same time, the average booking lead time shrank to 43 days, indicating that travelers are planning their trips closer to their departure dates.
Booking.com emerged as the dominant booking platform, accounting for 51% of bookings, while 91% of guest reviews were extremely positive, highlighting the quality of services.
Revenue Optimization Strategies
To further improve performance, owners can implement the following practices:
- Dynamic Pricing: Align with market trends by adjusting prices based on demand. Focus on ensuring occupancy before increasing prices.
- Data Usage: Highlight unique amenities that meet guest expectations. Emphasize popular platforms like Booking.com.
- Guest Experience: Use reviews to improve services and monitor changes in traveler preferences.
Short-term rental destinations in Greece
The short-term rental market in Greece continues to evolve, adapting to changes in tourism demand. Destinations such as Milos, Santorini, and Mykonos remain at the top, while the stability of the urban markets of Athens and Thessaloniki demonstrates the diversification of the Greek tourism proposition. With the right strategy, short-term rentals can maintain their momentum while offering unforgettable experiences to guests from Greece and all over the world.
Ακολουθήστε μας στο Google News και μάθετε πρώτοι όλες τις ειδήσεις!
