Prices for Short-Term Rentals have peaked

Greece: Short-Term Rental prices have peaked

Hot news for those who dream of a magical vacation in Greece! According to the latest data from AirDNA, prices for short-term rental housing in this magnificent corner of the world have reached their peak. Let's take a look at the details of this exciting event.

Data analysis from AirDNA:
In October this year, the average price per night in Greece was €177, which is 1.3% less than a year ago. However, it is important to note that demand increased by an impressive 47.1% during this period. This creates a unique situation that is worth considering in more detail.

Details and methods of data collection:
AirDNA, a company specializing in the analysis of short-term rental data, collects information from ads with at least one booking in the last 30 days. This approach provides us with an accurate view of the market and its dynamics.

Price dynamics in October:
Despite the general trend of rising prices for short-term rentals in Europe, Greece was on the list of exceptions. Prices have dropped here, giving tourists a unique opportunity to enjoy Greek hospitality at more affordable prices.

Supply and occupancy:
An 8.6% increase in supply with a 53% occupancy rate is a sign that Greece remains a popular destination even during the pre—season. The choice of accommodation is becoming more diverse, which pleases travelers.

Comparison with other countries:
Greece not only surprises with its beauty, but also with its competitiveness. Property owners in Greece prefer not to raise prices in order to attract more tourists, especially in comparison with neighboring countries.

Factors affecting prices:
Why did prices drop despite the rapid growth in demand? Two key factors influence this: the preferences of visitors and the willingness of property owners to remain competitive.

Summer season and prices in Greece:
In summer, prices in Greece rise to €200 per day, especially in popular destinations such as Corfu, Crete, Mykonos, Rhodes and Santorini. This is justified by the high demand and the availability of luxury accommodation options.

Popular destinations in Greece:
Every island in Greece is unique, and rental prices reflect this uniqueness. Let's look at what these popular tourist destinations offer.

High demand and luxury apartments:
More and more tourists are looking for luxury accommodation options, and Greece is responding to this request. High demand for luxury apartments contributes to price growth in this market segment.