Media report: Short-term rentals soar in Greek cities and neighborhoods

Α Decrease font Enlarge font
Media report: Short-term rentals soar in Greek cities and neighborhoodsThe number of properties on short-term lease jumped from 130 in 2010, just ahead of a near-decade-long economic crisis, to more than 200,000 by the end of 2019

With Greece on a record run of tourism seasons and seen the world’s top destination this summer, short-term rentals led by Airbnb have engulfed whole city neighborhoods, driving out long-term residents and spiking rents elsewhere.

In a feature, Kathimerini outlined the phenomenon as out of control, with the number of properties on short-term lease jumping from 130 in 2010, just ahead of a near-decade-long economic crisis, to more than 200,000 by the end of 2019.

That was the finding of a survey by the Center of Planning and Economic Research and successive governments haven’t acted to put on curbs despite protests from neighborhood residents.

Greece is one of just a few countries in Europe that have not introduced any restrictions to short-term property rentals – or effectively enforced those that already exist, the paper said, with resistance growing in areas such as the anarchist hotbed of Exarchia.

The absence of tax regulations and rules is making it difficult for renters to find a place, with the cost soaring and reversing a declining market during the crisis, and also threatening the prospects for the short-term rentals, the paper’s report added.

Data from Aimee Trusler, International Sales Manager at AirDNA – a company that monitors short-term rental trends – found the supply of houses through the Airbnb and HomeAway platforms rose from December 2018 to December 2019 by 24 percent.

The number of nights spent at such accommodation jumped by over 95 percent, but the occupancy rate declined by about 15 percent, showing a growing glut that could cut into revenues, especially if tourism doesn’t keep growing.

A recent study on the sector by the Institute of the Greek Tourism Confederation (INSETE) showed that revenues from the leasing sector for homes and apartments hit some 1.15 billion euros ($1.25 billion) from June 2018 to the end of May 2019.

Greek tax authorities have moved to make the properties be registered and to include data listing the names of hosts with the Independent Authority for Public Revenue (IAPR) which could deactivate their websites if they fail to comply.

Another survey showed the spillover effect of driving up rents and changing the whole character of neighborhoods suddenly trendy and emptied of long-time residents which could boomerang.

AirDNA data show 10,281 properties available for short-term leasing, at an average rate of 52 euros ($56.40) per day. Across the country in 2019 takings per rented home declined 9.4 percent to 43.5 euros ($47.18), from 48 euros ($52.06 ) in 2018, while occupancy dropped to 39 percent last year from 45.5 percent from just a year earlier.

Read more at thenationalherald.com

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

 

Tornos
  1. 16/07 17:53

    Fire raging in an area of forest near Lavrio port in Attica

  2. 16/07 13:57

    Piraeus Port Authority dock workers hold 4-hour work stoppage on July 17

  3. 16/07 13:45

    Health safety measures on Greek beaches extended until July 31

  4. 16/07 13:43

    Observe 5 planets and the Moon with the naked eye in Greece this weekend

  5. 16/07 11:50

    Air France offers three weekly direct flights from Paris to Thessaloniki

  6. 15/07 23:28

    Workers taking down all signs that identify Hagia Sophia as a Museum (video)

  7. 15/07 23:21

    New York Times: Greek wine among the top under $20

  8. 15/07 23:17

    Cyprus authorities announced two new coronavirus cases out of 1,658 tests

  9. 15/07 22:56

    US Secretary of State: Disappointed with Turkey’s decision on Hagia Sophia'

  10. 15/07 22:41

    "All of Greece One Culture" Summer Festival to commence on Saturday

  11. 15/07 22:02

    Greek olive oil firms offer quality, succor, and health

  12. 15/07 21:41

    Greece's Aegean Airlines to test air crews for the coronavirus every fortnight

  13. 15/07 21:27

    Greece approves eight strategic investment projects in tourism sector

  14. 15/07 21:26

    Lamda Development launched public offer for 320-million-euro bond

  15. 15/07 20:34

    Greek PM: National effort to observe anti-coronavirus safety measures will intensify

  16. 15/07 19:45

    All Greek airports open gates again to tourists from the United Kingdom

  17. 15/07 17:54

    27 new coronavirus cases and again no fatalities reported in Greece

  18. 15/07 15:10

    Boris Johnson’s father to get €19.000 from his Greek villa in Pelion

  19. 15/07 13:33

    Greece's ruling ND party leads SYRIZA by more than 20% in latest poll

  20. 15/07 00:23

    "Float in the Suds of the Aegean" virtual beer tasting held on July 16

  21. 15/07 00:16

    Associated Press: Rise in US infections hits Delta Airlines

  22. 14/07 22:47

    IATA renews call in Latin America & Caribbean to support sector

  23. 14/07 22:43

    Greek, Turkish, German officials hold informal meeting in Berlin on Tuesday

  24. 14/07 22:33

    Greek PM: Turkey's behaviour on Hagia Sophia issue 'directed against Europe'

  25. 14/07 21:11

    58 new coronavirus cases and no deaths reported in Greece on Tuesday

  26. 14/07 20:57

    'Greece 2021' head: 'Standing upright, getting ready for the future'

  27. 14/07 19:53

    Greece's supreme court rules for reimbursement of pension cuts

  28. 14/07 19:12

    UNWTO invites startups to propose ways to accelerate SDGS

  29. 14/07 15:47

    Coronavirus: Open festivals banned in Greece until the end of July

  30. 14/07 15:42

    Special COVID-19 measures applied at Athens and Epidaurus festival

  31. 14/07 14:35

    Minister: Our goal is a 12-month tourism model for Greece

  32. 14/07 11:15

    EC greenlights Covid-19 €1.14 billion support funds for Greece

  33. 13/07 23:51

    Cyprus Tourism Minister: Arrivals revised downwards due to Covid-19

  34. 13/07 23:44

    Greek academic elected head of Ancient Historians Association in the US

  35. 13/07 23:31

    UNWTO hails safe restart of tourism on the Canary islands

  36. 13/07 23:11

    Greece plans opening to US tourists by the end of July

  37. 13/07 22:54

    Greek summer sales commence on July 13th

  38. 13/07 22:50

    Jewish Museum of Greece in Athens receives ministerial certification

  39. 13/07 22:01

    Church of Greece's Holy Synod voices discontent for Hagia Sophia conversion

  40. 13/07 21:43

    Prince Charles confesses: "Greece is very much part of my identity"

  41. 13/07 21:10

    Greek PM talks Hagia Sophia with European Council President

  42. 13/07 20:34

    24 new Covid-19 cases and no deaths again reported in Greece on Monday

  43. 13/07 17:56

    New bankruptcy bill to allow 240 monthly tranches in Greece

  44. 13/07 15:40

    Tax revenues expected to reach all-time lows in Greece

  45. 13/07 13:17

    Tom Hanks and Rita Wilson arrive in Greek island of Paros by private jet

  46. 13/07 12:27

    Wizz Air Abu Dhabi announces new route to Larnaca in Cyprus

  47. 12/07 23:57

    Pan-Rhodian Society Apollon NY Chapter's statement on Hagia Sophia

  48. 12/07 22:21

    AHEPA condemns Erdogan’s decision to alter Hagia Sophia’s status

  49. 12/07 20:55

    31 new Covid-19 cases and no fatalities reported in Greece on Sunday

  50. 12/07 17:17

    Archbishop of Greece on Hagia Sophia conversion: An affront to cilivized people

  51. 12/07 15:42

    Greek PM: Corfu's Kassiopi a strategic project in tourism and job creation

  52. 12/07 14:04

    FM: Greece will ask EU for plan of potential measures against Turkey

  53. 12/07 13:32

    EU VP Borrell on Turkey's decision over Hagia Sophia: 'Regrettable'

  54. 12/07 11:49

    Biden calls on Turkish president to reverse decision on Hagia Sophia

  55. 11/07 23:41

    Greek island of Hydra featured in the Wall Street Journal

  56. 11/07 23:38

    Turkish President: First Muslim prayer in Hagia Sophia on July 24

  57. 11/07 21:59

    Caretta-caretta turtle mating more in absence of tourists in Greece

  58. 11/07 20:37

    Greece records 41 new confimed Covid-19 cases on Saturday

  59. 11/07 19:45

    Greek PM: Europe must 'send out a message of solidarity' for speedy recovery

  60. 11/07 19:20

    Tourism minister: Britons welcome to visit Greece

  61. 11/07 18:32

    Greek port of Heraklion included in EC’s Intelligent Cities list

  62. 11/07 18:16

    Greek government: Turkey may face sanctions for Hagia Sophia decision

  63. 11/07 17:24

    Settlement at Greek island of Evia evacuated as wildfire rages on

  64. 11/07 16:28

    Greek PM launches series of international contacts over Hagia Sophia

  65. 11/07 11:09

    First underwater museum in Greece opens in Alonissos island (videos)

  66. 10/07 23:27

    Greek FM: Decision on Hagia Sophia a provocation to global cultural heritage

  67. 10/07 22:25

    Greek island of Ios among 100 most impressive in the world

  68. 10/07 15:06

    US interest for tender to develop Greek ports of Alexandroupolis and Kavala

  69. 10/07 14:55

    Minister: New package of economic support measures planned for September

  70. 10/07 14:42

    Foreign Minister: Greece reacted quickly and effectively to the pandemic

  71. 10/07 14:25

    50 new coronavirus cases and no fatalities in Greece

  72. 10/07 14:20

    U.S. Ambassador to Athens Pyatt visits Thessaloniki's AHEPA hospital

  73. 10/07 13:39

    Greek PM to chair meeting on Covid-19 checks at the borders

  74. 10/07 13:32

    SOS Children's Villages evacuated due to Vari-Koropi fire in Attica

  75. 10/07 13:06

    Belgium adds Greece to the “green” list

  76. 10/07 12:47

    WTTC: Travelers should wear masks show they care in the new normal

  77. 10/07 09:58

    ETC: Travel to Europe expected to be 54% lower in 2020 compared to 2019

  78. 09/07 23:21

    7% tax on social security benefits of 3rd country nationals in Greece

  79. 09/07 22:59

    Sign the internet petition to protect the status of Hagia Sophia

  80. 09/07 22:45

    Mediterranean Film Institute workshops will kick off in Greek island of Nisyros

  81. 09/07 22:33

    Finland opens borders for Greeks and Cypriots on July 13

  82. 09/07 22:04

    Post-COVID-19 green recovery must utilize sustainable aviation fuels

  83. 09/07 21:17

    EPP chief: EU must defend and help Greece and Cyprus against Turkey

  84. 09/07 19:12

    Belgium updates ‘orange’ status of Greece on the coronavirus list

  85. 09/07 17:52

    Greek PM: Public protest bill to protect freedom of public (video)

  86. 09/07 15:38

    Greece has imported Covid-19 incidents but the rise is under control

  87. 09/07 15:26

    Greek FM: Turning Hagia Sophia into a mosque will have a cost for Turkey

  88. 09/07 14:59

    Giant fossilised tree trunk discovered on the Greek island of Lemnos

  89. 09/07 14:37

    Syntagma and Panepistimio Athens metro stations to close today at 18:00

  90. 09/07 13:19

    Greece excluded from Scottish 14-day coronavirus quarantine

  91. 09/07 13:12

    Greek Health Minister: What interests us most is public safety

  92. 09/07 11:42

    Travel + Leisure: Greek hotels and islands win World’s Best Awards for 2020

  93. 09/07 09:21

    Greece's environment ministry programme and its role in the recovery

  94. 09/07 01:27

    Greek Finance Ministry projects budget deficit at 7% of GDP

  95. 09/07 00:58

    World Christian Youth Organisation asks Turkey to respect Hagia Sophia status

  96. 08/07 23:30

    President: Chairing Council of Europe 'a unique opportunity for Greece'

  97. 08/07 22:33

    24 unescorted refugee children relocated from the Greek islands to Finland

  98. 08/07 22:22

    Prime Minister: Greece now has a modern, transparent adoption system

  99. 08/07 21:42

    Temporary lifting of mandatory face masks in shopping malls in Greece

  100. 08/07 21:05

    Greek port of Patras signs concession deal for seaplane services