The Greek short-term rental market continues to grow dynamically, confirming its pivotal role in the tourism sector. 2024 was a year of significant performance, with increased overnight stays, enhanced revenues, and new occupancy records. At the same time, demand for 2025 indicates that the upward trend will continue, although the sector is called upon to adapt to new challenges, such as increasing regulation and more intense competition.
Strong growth in 2024
According to AirDNA, overnight stays in short-term rental accommodations in Greece reached 14.1 million in 2024, up from 12.1 million in 2023 and 9.9 million in 2019 – a 42% increase in the last five years.
Occupancy increased to 58% from 56% in 2023, recording a 3% year-on-year increase, while the total accommodation supply reached 122,000 listings.
Revenue from short-term rentals reached 874 million euros in 2024, marking a 17% increase compared to 2023, reflecting increasing tax compliance and overall market growth.
Easter 2025 boosts demand
Greece is at the forefront of the most sought-after destinations for the Easter 2025 period, as the coincidence of Orthodox and Catholic Easter on April 20th has skyrocketed demand. Bookings for Holy Week show a 25% increase compared to 2024, while total overnight stays are expected to exceed 500,000.
Travelers are now making their bookings earlier, and there is an increase in the length of stay, boosting occupancy for a longer period. The most popular destinations for Easter 2025 include Athens, Thessaloniki, Crete, and smaller destinations such as Ioannina (+53%) and Kalamata (+50%).
New trends and regulations shaping 2025
Increasing demand is accompanied by new market trends. Travelers show a clear preference for larger and more luxurious properties, with occupancy rates in 3-5 bedroom accommodations increasing significantly. In contrast, more budget-friendly accommodations are experiencing milder growth.
Dynamic pricing is becoming even more important, as bookings are made earlier, allowing managers to adjust their prices based on demand. According to AirDNA data, prices for the period before Easter have already reached Holy Week levels, with an average daily rate of 184 euros.
However, the short-term rental market is facing new regulatory changes. The ban on issuing new Property Registry Numbers (AMA) in the center of Athens from 2025 has already prompted owners to register in advance in the relevant registry, and the institutional framework is expected to affect the further development of the market.
In any case, those operating in the Athens market should be on high alert, as the already increased supply of accommodations is putting pressure on occupancy rates, which will ultimately affect prices.
Prospects for 2025
The indications for 2025 are positive, as bookings for the first half of the year show an 18% increase compared to 2024. April, due to Easter, records the largest annual increase (+44%), while summer bookings are already on an upward trend.
Despite increasing competition and new regulatory requirements, the Greek short-term rental market remains highly resilient, with strong investment interest and a significant contribution to the tourism economy. Industry professionals will need to adopt smart management and dynamic pricing strategies to ensure the long-term growth and sustainability of their businesses.