SHORT-TERM RENTALS

The short-term rental market in Greece recorded a historic record for 2022, with revenues of 2.2 billion euros and with overnight stays reaching 11.5 million, marking an increase of 35% compared with 2019 and 15% compared with 2021. According to the survey conducted by the company AirDNA, the average price per stay was 193 euros and the average occupancy per accommodation about 55%. It is worth noting that, at a pan-European level, the 2022 increase in our country was the fourth highest among a total of 20 countries.

According to the company AirDNA and the survey it conducted, supply in the short-term rental market did not show the same increase as demand. Specifically, the average number of available accommodations nationwide, on a monthly basis, came to 105,700 in 2022, that is 12.4% higher compared with 2021, a percentage identical to that of 2019. In conclusion, this means that a satisfactory number of properties has returned to short-term rentals, but not at the same speed as the return of foreign visitors.

As regards the European market, short-term rentals also showed an increase, exceeding 350 million overnight stays (39% higher than 2021 and 3% higher than 2019) and revenues that surpassed 50 billion euros.

The new reality that took shape in recent years and became established as a new accommodation model strengthened the global tourism industry to a large degree with continually increasing revenues.

The new accommodation model managed to create continuous pressure on global real estate for the supply of specially configured accommodation in tourist destinations worldwide, both renowned and not, thereby contributing to the local economy and to the development of the real estate market, making use of the building stock of urban and occasional areas.