Bnb Guest Conference: Rise in tourist property rentals pressures prices and revenues

Α Decrease font Enlarge font
Bnb Guest Conference: Rise in tourist property rentals pressures prices and revenuesShort-term rental takings point to market saturation

The first signs of an oversupply in the short-term rental market started to become evident in late 2018, with a rise in available properties and a drop in takings, according to data presented on Thursday at a conference in Athens, ekathimerini.com reports.

Active ads for Greek properties on online platforms such as Airbnb and HomeAway amounted to 72,144 at the end of 2018, a year-on-year increase of 21 percent. Nevertheless, average daily revenues fell by 17 percent to 126.4 euros, while the occupancy rate declined 13 percent year-on-year to 46 percent of all ads, from 52.7 percent in 2017.

The above conclusions stem from a survey presented at the BnB Guest Conference in Athens on home-sharing by Tom Caton, chief revenue officer at AirDNA, a company that specializes in analyzing data from Airbnb and HomeAway, which have over 9 million ads for properties around the globe between them.

Caton noted that Greece and Athens in particular remain a top destination for investments for those interested in getting involved in the sector. However, “it will now require much more professional management,” he said, as there is great competition, the supply rate is high and the requirements of guests keep increasing.

Of course there are destinations in Greece where demand remains very high: Data indicate that the Ionian island of Lefkada was last year’s champion in revenue growth, recording an increase of 167 percent, followed by Ermionida in the eastern Peloponnese (the region including Porto Heli, Ermioni etc). Corfu was third with a 73 percent increase, ahead of Glyfada, southern Athens, which was up 45 percent, and the Cycladic island of Tinos, up 42 percent.

The Athens market is now dominated by professional owners/managers of properties as investors or companies with two more more properties listed accounted for more than 54 percent of ads.

RELATED TOPICS: GreeceGreek tourism newsTourism in GreeceGreek islandsHotels in GreeceTravel to GreeceGreek destinations Greek travel marketGreek tourism statisticsGreek tourism report

 

Tornos
  1. 25/04 14:34

    Deputy FM of Kenya visits Piraeus Port Authority in Greece

  2. 25/04 14:27

    Greek PM to attend Belt & Road Initiative Forum II in China on April 25-27

  3. 25/04 14:13

    Enjoy the Greek Easter treat of tsoureki

  4. 25/04 14:05

    Olympia Odos in Western Greece offers traffic prediction app to travellers

  5. 25/04 13:21

    Space travel: China plans to construct base near Moon’s south pole

  6. 25/04 12:00

    Italians outnumber Brits in March reservations for Greece

  7. 25/04 11:48

    Sahara desert dust to cover parts of Greece until Good Friday

  8. 24/04 00:42

    Croatia Airlines to link Athens with Dubrovnik, Zagreb and Split in summer 2019

  9. 24/04 00:38

    Deputy Minister for Tourism: Cyprus is not just sun and sea

  10. 24/04 00:18

    FCAO: 2019 Cyprus Summer of Hospitality program application deadline on May 5

  11. 24/04 00:00

    Mitsotakis and Weber make statements after ancient Nemea visit in Greece

  12. 23/04 23:34

    Planned smart city platform to provide 20,000 parking places across Greece

  13. 23/04 22:58

    Greek islands and Halkidiki among top-8 low cost luxury destinations in the world

  14. 23/04 21:29

    Travel exhibition “Taxidi 2019” commences in Cyprus on 3 May

  15. 23/04 19:22

    Ministrer: Sea transport link to follow air link of Greece with Tunisia

  16. 23/04 17:13

    Sharjah in the UAE succeeds Athens as World Book Capital City of UNESCO

  17. 23/04 15:04

    Religious Tourism: Celebrate Easter in Meteora of Greece

  18. 23/04 13:54

    SNF fellowship to attract Diaspora scholars to Greek Institutions

  19. 23/04 13:36

    More than 300,000 ancient Greek artifacts unearthed during excavations at Thessaloniki metro

  20. 23/04 12:48

    Agriculture Minister announces plan for train all farmers in Greece

  21. 23/04 12:38

    New Business Fair ”Mykonos Only” on Greece’s most popular island (video)

  22. 23/04 11:21

    Fakes Soup: Delicious superfood of Greek Orthodox fasting

  23. 23/04 11:17

    Cruise ship operators call for new port location on Santorini island

  24. 23/04 11:08

    African dust from the Sahara to hit parts of Greece on Wednesday

  25. 23/04 10:54

    Diaspora Greeks to finally be eligible to vote in upcoming elections

  26. 23/04 10:49

    Greece celebrated World Book Day with host of events on April 23rd

  27. 23/04 10:44

    World’s largest cruise ship docks at Greek port of Piraeus

  28. 23/04 10:41

    Opening hours of Cyprus archaeological sites and monuments during Easter

  29. 23/04 10:31

    Travel Agency: Greek island-hopping is the perfect celebration vacation

  30. 23/04 10:23

    Airbnb Investments revive Athens’ popular downtown area of Psyrri

  31. 22/04 23:25

    Athens and Epidaurus Festival tickets pre-sales begin this Tuesday

  32. 22/04 23:20

    Greek team digitizes ancient Christian manuscripts at Sinai monastery in Egypt

  33. 22/04 23:13

    Cyprus - Greece - Israel trilateral cooperation at Economist Summit in NY

  34. 22/04 22:57

    Greek primary surplus grew during the first quarter of 2019

  35. 22/04 22:28

    Bank of Greece: Tourism eases balance of payments deficit in February

  36. 22/04 21:31

    Tickets now on Sale for SEEfest in Los Angeles on May 1-8

  37. 22/04 19:10

    Greek president: Message of Messolonghi 'Free Besieged' still teaches and inspires

  38. 22/04 11:06

    UK photographer’s view of Greek islands showcased in Milan

  39. 22/04 10:59

    Wellness Tourism: Kallithea thermal springs, a hidden gem of Rhodes (video)

  40. 22/04 00:23

    Booking.com: 72% of tourists call for green travel to save the planet for posterity

  41. 21/04 22:52

    The rich culture and art of the Greek island of Andros

  42. 21/04 22:47

    Plastic pollution of oceans top environmental issue of 21st century (video)

  43. 21/04 22:40

    Investors see positive prospects in Athens stock exchange this year

  44. 21/04 22:35

    Greece will improve ID’s along with passport security

  45. 21/04 22:11

    Neorion shipyard on Greek island of Syros reaches 70-ship 'milestone'

  46. 21/04 21:14

    Travel report: The top-5 beaches in the Greek islands of Cyclades

  47. 21/04 19:26

    Sri Lanka terror attacks in hotels and churches kill over 200 on Catholic Easter

  48. 21/04 16:07

    Three UNESCO World Heritage Sites on Greek islands of South Aegean Sea

  49. 21/04 15:57

    Souvlaki price rise due to pork shortage will be 'zero to minimal'

  50. 21/04 13:35

    Infographic: The most popular music festivals on the planet

  51. 21/04 13:23

    Cyprus Press Office and Foreign Ministry launch website on Brexit

  52. 21/04 11:15

    Bank of Greece: Bulgaria was top tourist destination for Greeks in 2018

  53. 20/04 23:01

    New website helps you reserve your spot on Greek beaches

  54. 20/04 22:02

    Travel report: Picturesque village of Olympos on Greek island of Karpathos

  55. 19/04 23:22

    Photo of Greek Mum holding umbrella at son’s football game goes viral

  56. 19/04 23:17

    Greek yogurt copycats spreading across Europe

  57. 19/04 23:12

    Greek opposition chief: No to cultural legacy used as alibi to impede investments

  58. 19/04 23:06

    Distress funds already manage €20 billion of bad debt in Greece

  59. 19/04 22:47

    Signatures for 4 out of 8 contracts of Patras - Pyrgos motorway in Greece

  60. 19/04 22:37

    Survey: Greeks are European champions in swearing behind the wheel

  61. 19/04 21:49

    Cannabis cultivation guidelines announced by Greek Agriculture Ministry

  62. 19/04 21:09

    Loans in Swiss francs to be repaid at current rate in Greece

  63. 19/04 19:56

    Stavros Niarchos Foundation announces new $80 million grants

  64. 19/04 17:50

    Coordinator for Helleniko project forecasts all issues resolved by June

  65. 19/04 15:20

    Minister: Construction of Patras - Pyrgos motorway to begin on April 23

  66. 19/04 13:05

    Media: €650 million Asteras Vouliagmeni project to be completed in 2 years

  67. 19/04 01:06

    Athens suburban Proastiakos railway to be extended to Egio by end August

  68. 19/04 00:54

    Traditional Greek fast food souvlaki price to increase by 10-15%

  69. 18/04 23:03

    Greek banks to stay open on April 19 and 22 despite Catholic Easter

  70. 18/04 22:45

    Process for concession of 23 regional airports in Greece kicks off

  71. 18/04 21:47

    Trikala city in Thessaly of Greece offers 5 electric vehicles for public use

  72. 18/04 21:00

    Athens Airport presents Greek culture through art, history and literature

  73. 18/04 19:40

    11.5% drop in tourist arrivals in Cyprus during March 2019

  74. 18/04 19:30

    Statue of Alexander the Great placed in Athens 30 years after its purchase

  75. 18/04 17:20

    Temple of Apollo on Naxos island on Google Arts & Culture platform (video)

  76. 18/04 15:06

    North Macedonia eyes possible Greek investment of €80-90 million

  77. 18/04 11:32

    May Day celebration at the Stavros Niarchos Park in Athens

  78. 18/04 10:57

    Survey: Top-100 exporters cover 53% of Greek exports

  79. 17/04 23:41

    Scenario for Athens Metro Line 4 extensions to be constructed as PPPs

  80. 17/04 23:26

    Greek ruling party bill legalizing unlawful seaside structures revised

  81. 17/04 23:15

    Extended shopping hours in Greece announced for the period before Easter

  82. 17/04 23:03

    Turkish academics: Elgin never had permission to remove Parthenon marbles

  83. 17/04 22:55

    Eurostar rail firm aims to reduce paper ticket use with Google Pay

  84. 17/04 10:42

    Hellenic Film Society USA presents lineup for New York Greek Film Expo

  85. 17/04 01:23

    Aktor Concessions the preferred bidder for Alimos Marina in Athens

  86. 17/04 01:18

    World Forum on Culinary Tourism analyses sector’s potential

  87. 17/04 00:13

    Athens court affirms Privinvest €1.2 billion arbitration award against Greece

  88. 16/04 23:31

    Document on Zakynthos’ Jewish community screened at Harvard University

  89. 16/04 23:19

    Greek government plans to expand horse-racing concession contract

  90. 16/04 23:08

    Hellenic Philatelic Society to host European Philatelic Exhibition NOTOS 2021

  91. 16/04 22:50

    OASA data: Athens metro barriers raised revenues sharply

  92. 16/04 22:36

    Greece and Turkey meet to enhance medical tourism collaboration

  93. 16/04 21:09

    Greek wildlife sanctuary Arcturos adopts bear cubs (video)

  94. 16/04 17:32

    Greece aims to repay IMF loans earlier as bond yields fall

  95. 16/04 15:30

    Greek budget recorded primary surplus of €1.46 billion during Q1 2019

  96. 16/04 13:17

    Study: Aegean farmers replaced hunters of Ancient Britain 6,000 years ago

  97. 16/04 11:07

    Greek visa center inaugurated in Trabzon of Pontos in Turkey

  98. 16/04 00:24

    Greek island of Syros upgrades port airport to attract more tourists

  99. 16/04 00:17

    Cyprus attracts film stars and movies with large cash incentives

  100. 16/04 00:13

    Visitors and revenues to Greek museums and sites rise in Jan-Dec 2018