The 2026 summer season for short-term rentals in Greece is starting on a notably stronger footing, as the latest AirDNA data for May shows simultaneous growth in demand, occupancy, and pricing, despite a decline in available listings following regulatory changes introduced in October 2025.
While across Europe demand fell by 1.1% and the market showed signs of stabilisation, Greece moved in the opposite direction. Demand increased by 2%, while supply declined by 2.3% to 142,633 listings.
This divergence strengthens the view that the Greek short-term rental market is not being negatively affected by the new regulatory framework, but is instead adjusting to a tighter yet more efficient operating model.
Demand and occupancy on an upward trajectory
According to AirDNA, the 2% year-on-year increase in demand was accompanied by a strong rise in occupancy, which reached 58.1%, up 5.4% compared to May 2025.
This development is particularly significant as it takes place in a lower-supply environment, indicating that the market is fully absorbing available inventory ahead of the peak summer season.
In Europe, the picture is more subdued: supply increased by 2.6% to 3.86 million listings, while demand declined by 1.1%, resulting in occupancy of 58.3%, but without the same upward momentum seen in Greece.
Strong price growth and double-digit revenue gains
One of the most striking features of the Greek market is the sharp increase in pricing.
Average Daily Rate (ADR) reached €135.5, up 9.1% year-on-year, compared with a 6.8% increase across Europe.
Even more notable is the performance in Revenue per Available Rental Night (RevPAR), which rose by 15.1% to €78.7 in Greece.
In comparison, European RevPAR increased by 8%, highlighting that the Greek market is not only keeping pace but significantly outperforming the regional average.
Regulation reshaping market structure
The 2.3% decline in supply is largely attributed to regulatory interventions implemented in October 2025, aimed at improving the quality of listings in the short-term rental market.
Available data suggests that the exit of lower-quality properties is compressing supply without affecting overall demand, while simultaneously improving returns for higher-quality listings.
The result is a smaller but more efficient market in terms of pricing power and occupancy.
Greece vs Europe: diverging market dynamics
Unlike Greece, the European short-term rental market is currently in a phase of stabilisation.
Key figures show:
- 3.86 million listings (+2.6%)
- 39 million booked nights (-1.1%)
- ADR at €140 (+6.8%)
- RevPAR at €81.6 (+8%)
This indicates that Europe is absorbing gradual supply growth, but without the demand strength seen in Greece.
Outlook for the summer season
Forward bookings for June–August are already running 4.9% ahead of last year across Europe, with some high-demand markets showing even stronger momentum.
For Greece, May’s data serves as an early indicator of a positive summer season, with the short-term rental market continuing to act as a key barometer of tourism activity.
Overall, the sector appears to be unaffected by regulatory changes in terms of demand, instead entering a phase of higher efficiency and improved revenue performance, with implications both for the tourism economy and investment activity in the hospitality sector.
