Media report: Short-term rentals set to soar in Greece

Α Decrease font Enlarge font
Media report: Short-term rentals set to soar in GreeceDetailed figures indicate a 306% increase in bookings for Crete and a 302% rise in the Dodecanese, while Athens has seen 248% growth, ahead of the Cyclades (up 233%) and the Ionian islands (up 230%)

The short-term property rentals market is expected to see its turnover in Greece top 1.4 billion euros this year, beating the figures achieved in 2019 in yet another sign of market recovery from the pandemic, ekathimerini.com reports.

According to a presentation by Martha Wilson, AirDNA’s chief researcher for the Greek market, at the 4th annual BnB Greece Conference, the country had already covered 94.9% of the 2019 numbers from last year, reaching €1.33 billion, from €790 million in 2020.

Wilson explained that the prospects of the Greek short-term rentals market are the best in Europe because bookings made by March 1 for the summer season were 232% higher than last year. Greece is followed by Portugal (196%), Croatia (151%), Italy (117%), and Spain (98%).

Detailed figures indicate a 306% increase in bookings for Crete and a 302% rise in the Dodecanese, while Athens has seen 248% growth, ahead of the Cyclades (up 233%) and the Ionian islands (up 230%).

There is also a significant spike in the cost per overnight stay, peaking on the Sporades islands with 26%. In the Peloponnese, rates have grown 19% and in Athens 12%. In contrast, the Cyclades are showing a small drop from last year. Wilson underscores that these figures are provisional and may well change with the approach of summer – the period when Greece records 60% of its annual demand.

The Greek market has already shown it is faring better than in 2019: In February bookings were 28% higher than three years earlier, outperforming the European average growth of 21% and confirming the local trend set since last October. In those five months (October 2021 – February 2022) Greece has steadily outpaced the European mean rate of growth compared to three years earlier, recording an 11.7% advance against 2.6% across Europe.

The expansion in prices is attributed to the drop in supply. In February revenues from short-term leasing were 100% higher than in the same month in 2019, while in January the rise had come to 120%.

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

Photo Source: villapatmos.com

Tornos
  1. 05/12 17:00

    Hollywood movie Dirty Angels begins filming in Greek city of Thessaloniki

  2. 05/12 15:55

    Greek Prime Minister: We are a government that likes to solve problems

  3. 05/12 15:51

    Greece and Britain discussing Parthenon Marbles return but deal not close

  4. 05/12 15:05

    Government spox: Greece will reach the most developed EU countries

  5. 05/12 14:26

    EU Air Traffic Management must reduce emissions and be judged by referee

  6. 05/12 14:12

    Abu Dhabi Holding Company Invests in Greek Apartment Venture Blueground

  7. 05/12 13:31

    Greek island of Karpathos in National Geographic's list of breathtaking destinations

  8. 05/12 12:17

    Oniroupolis: Christmas village of Greek city of Drama welcomes its friends

  9. 05/12 10:47

    Shopping hours in Greece during Christmas period

  10. 03/12 16:44

    UNWTO and Comunidad de Madrid host experts meeting on cultutal tourism

  11. 03/12 12:20

    THI's Annual Charity Gala returns to New York marking 10 years

  12. 02/12 22:36

    Greek Foreign Minister meets visiting Italian counterpat in Athens

  13. 02/12 22:29

    Greek Prime Minister attends first day of EPP summit meeting in Athens

  14. 02/12 21:32

    Four Greek-American physicians made Archons by Ecumenical Patriarch of Orthodoxy

  15. 02/12 16:26

    Enterprise Greece to organize Greek Pavilion at MIPIM 2023 exhibition

  16. 02/12 00:53

    UNWTO and European Commission share joint vision fro sector's future

  17. 02/12 00:25

    Vegan Fiesta Hellas 2022 in Athens this weekend

  18. 02/12 00:24

    President of Hellenic Republic receives New York mayor Eric Adams

  19. 02/12 00:21

    Athens and New York become twin cities formally

  20. 01/12 22:50

    Finance Minister puts pressure on Greek banks to relieve vulnerable debtors

  21. 01/12 22:28

    Athens and world mayors light Christmas Tree at Syntagma Square

  22. 01/12 18:44

    Mayor Eric Adams in Greece Visit: New York is the Athens of America

  23. 01/12 16:56

    ELSTAT: The Greek unemployment rate dropped to 11.6% in October

  24. 01/12 16:38

    UNWTO chief: Tourism and transport can deliver a better future for Europe

  25. 01/12 16:09

    Greek supermarkets fined for violating 'household basket' legislation

  26. 30/11 23:28

    Warm welcome for Greek Minister of Culture in University of Connecticut

  27. 30/11 23:23

    Minister: Greece a hub for supplying natural gas and green energy

  28. 30/11 23:19

    Headwinds continue to affect international air cargo demand in October

  29. 30/11 20:16

    Three major road and railway projects to be tendered in Greece this year

  30. 30/11 18:10

    Civil marriage licenses available and issued online at my.gov.gr in Greece

  31. 30/11 15:12

    UNWTO and Morocco join forces to support 10,000 tourism MSMES go digital

  32. 30/11 14:50

    Air China announces Shanghai-Athens air connection on December 22

  33. 30/11 14:04

    Ferry between Thessaloniki and Izmir suspends operation until summer 2023

  34. 30/11 13:08

    IATA calls on Denmark and Iceland to revoke planned ATC rate rises

  35. 30/11 11:55

    UNWTO Chief: “We are your voice at global governance level”

  36. 29/11 23:14

    Increasing direct flights from Saudi Arabia to Greece under discussion

  37. 29/11 22:52

    Greek PM says Parthenon Marbles could return but won’t push

  38. 29/11 21:35

    Strict protocols for return of unvaccinated medical staff to work in Greece

  39. 29/11 19:16

    Greek Foreign Minister sends message to mark the Day of the Mediterranean

  40. 29/11 19:01

    Greece prepares for 'Ariel' weather front

  41. 29/11 18:24

    43,914 Covid cases and 118 fatalities in Greece on November 21-27

  42. 29/11 16:49

    FinMin: 2022 a record year for foreign investment in Greece and exports

  43. 29/11 15:40

    Greek PM: After the elections I expect a new “explosion” of investments

  44. 29/11 14:45

    French Αmbassador: Greece plays an important role in stability and security

  45. 29/11 13:29

    Impressive Cretan dance steals the show in front of the Niagara Falls (video)

  46. 29/11 11:15

    Media report: Investing in less popular tourist destinations has paid off for Greece

  47. 29/11 00:06

    First snow of the season falls on Greece's mountains (video)

  48. 28/11 23:53

    New ambassadors of Slovenia, Slovakia, and Canada to Athens present credentials

  49. 28/11 22:43

    French ambassador visits Greek port of Alexandroupolis with delegation

  50. 28/11 20:11

    AP report: Greek Prime Minister meets with Britain’s King Charles

  51. 28/11 17:38

    UNWTO and Madrid organize first experts meeting on cultural tourism

  52. 28/11 17:02

    Minister: Greece emerging as key gateway for natural gas in SE Europe

  53. 28/11 12:32

    Greek Tourism Minister in Riyadh for 22nd WTTC

  54. 26/11 23:58

    United Nations World Tourism Organization welcomes 18 new affiliate members

  55. 26/11 23:46

    UNWTO Executive Council: Education, investments keys to transform sector

  56. 25/11 16:06

    Eminent Greek artists, jewelers and more donate items for THI’s online auction

  57. 25/11 15:56

    SNFCC becomes again most magical Christmas destination in Athens

  58. 25/11 12:51

    Tourism Minister: 12th Conference of Selectour in Greece a vote of confidence

  59. 25/11 12:10

    Total subsidy for electricity in Greece during December reaches €435 million

  60. 25/11 11:02

    Council of State: Mandatory vaccination of Greek health workers unconstitutional

  61. 24/11 21:51

    Ermou street of Athens in top 15 most expensive shopping streets in the world

  62. 24/11 21:39

    24th Annual Capital Link Invest in Greece Forum on December 9 in New York

  63. 24/11 21:23

    Italian WWII submarine wreckage discovered off Greek island of Mykonos

  64. 24/11 21:09

    European flights' passengers will be able to use 5G on their mobile phones

  65. 24/11 20:59

    Greece and Australia deal to avoid double taxation boosts economic relations

  66. 24/11 20:47

    94.6% of Greece's pensioners to see hike in pay cheques as of January 1

  67. 24/11 19:33

    Energy Minister: Greece is asking for a 150-200 euro cap on natural gas

  68. 24/11 18:16

    Warply: Over 90,000 consumers have used 'household basket' app in Greece

  69. 24/11 14:47

    Municipality of Athens gets closer to its citizens through Viber app

  70. 23/11 19:33

    HACC offers Thanksgiving wishes and support for children in need

  71. 23/11 19:27

    “Black Friday” hype engulfs consumers across Greece

  72. 23/11 19:02

    Athens road traffic restrictions on Thursday for 7th Authentic Phidippides Run

  73. 23/11 16:49

    New initiative: “Medical Visa” the next step to encourage visits to Greece

  74. 23/11 16:22

    Hellenic Republic President at Cerebral Palsy Greece/Open Door event

  75. 23/11 15:18

    German Ambassador to Athens: Greece has made significant progress in modernisation

  76. 23/11 14:13

    New reductions of up to -18.1% in total cost of 'household basket' in Greece

  77. 23/11 13:38

    Greek FinMin: New chapter for the country and return to European normality

  78. 23/11 12:07

    UNWTO: Global tourism recovery speeds up to reach 65% of pre-pandemic levels

  79. 23/11 11:53

    U.S. Athens Embassy and Thessaloniki Consulate closed on November 24

  80. 22/11 19:43

    FM: Greece to boost relations with Latin America and Caribbean countries

  81. 22/11 19:37

    Greece and Egypt sign MoU on aeronautics, maritime search and rescue

  82. 22/11 19:27

    AP report: Thanksgiving might bring changes in holiday-travel habits

  83. 22/11 19:21

    US-German firm Linde commences hydrogen production in Greece

  84. 22/11 19:18

    53,800 Covid cases and 147 fatalities recorded in Greece on November 14-20

  85. 22/11 18:48

    Cyprus Transport Minister: Tourist arrivals of 2023 may surpass those of 2019

  86. 22/11 17:14

    Vaccination centres in Cyprus will be open on Saturdays, November 26, December 3

  87. 22/11 15:33

    Media: Uncertified Cypriot cheese factories can still export halloumi

  88. 22/11 14:57

    Athens Walking Tours: Guided tours in Athens followed the best forecast scenario in 2022

  89. 22/11 12:11

    Shops will open in Greece on Sunday, 27 November

  90. 22/11 11:41

    Limassol Book Fair aims to fill the gaps in the Cypriot book market

  91. 21/11 20:12

    Lufthansa Airline to hire 20,000 employees in Europe amid strong recovery

  92. 21/11 20:04

    AHI takes part in PSEKA Conference marking somber Cyprus anniversary

  93. 21/11 20:01

    Greek Finance Ministry tables 2023 state budget to Parliament

  94. 21/11 19:56

    UK Ex-Culture Secretary wants Parthenon Marbles returned to Greece

  95. 21/11 19:48

    13.4 billion euros in EU funding greenlighted for Greece's agricultural sector

  96. 21/11 19:28

    The Cretan Lifestyle Conference: Exploring wellness, food and culture

  97. 21/11 18:07

    Biggest ever flight programme from Cyprus by Ryanair in summer 2023 launched

  98. 21/11 12:16

    PHILOXENIA 2022: Greece remains among the top tourism destinations

  99. 21/11 10:53

    Greek PM: Every day we work to make the life of every citizen better

  100. 19/11 19:49

    United Nations World Tourism Organization connects sector and culture in Nigeria