Athens, Thessaloniki and Crete are the destinations with increasing demand for short-term rentals. The latest data from AirDNA and Hosthub.
Dynamic Season Start for Airbnb in Greece with February Bookings Surging
Recent analysis from the specialised data firm AirDNA highlights a notable trend in the short-term rental market in Greece.
The supply of rental accommodations has reached an impressive 88,000 listings, reflecting a 7% increase compared to the same period last year.
This rise can be attributed, in part, to the coincidence of Orthodox and Catholic Easter celebrations on April 20 this year, which has stimulated reservation activity across the nation.
In terms of demand, February bookings for stays in Greek destinations demonstrate significant growth.
Greece ranks among the top five European markets, exhibiting a remarkable 20% year-on-year increase in bookings.
This surge in demand not only surpasses the growth in supply but also leads to improved occupancy rates for short-term rental properties.
Key Statistics on the Market
- Total Listings: 88,000
- Year-on-Year Supply Increase: 7%
- Year-on-Year Booking Increase: 20%
- Key Date: Orthodox and Catholic Easter on April 20
These figures indicate a thriving market that is poised for a successful season.
As more travellers seek unique accommodations, it is essential for property owners and managers to remain competitive and to adapt to the shifting dynamics of the industry.
Areas in Demand
While the overall trend is positive, certain regions in Greece, particularly Crete, are seeing increased interest from both domestic and international travellers.
The island’s distinctive charm, combined with its diverse offer of experiences, continues to attract visitors year after year.
Popular Destinations Include:
- Athens: The capital remains a key player, appealing to tourists interested in culture, history, and urban experiences.
- Santorini: Known for its stunning sunsets and romantic scenery, Santorini continues to rank high on the travel lists of many.
- Mykonos: This island is popular for its vibrant nightlife and luxurious holiday experiences.
- Crete: Offers a blend of rich history, beautiful landscapes, and numerous amenities appealing to all types of travellers.
Booking Insights
As the spring season approaches, many property owners are gearing up for the influx of guests.
It is essential for them to tailor their offerings to meet evolving consumer preferences.
Factors like flexible cancellation policies, cleanliness protocols, and enhanced guest experiences will likely influence booking decisions.
Strategies for Owners:
- Competitive Pricing: Owners should regularly review pricing strategies to remain competitive in a growing marketplace.
- Enhanced Visibility: Utilising digital marketing strategies to increase visibility can attract more reservations.
- Guest Experience Focus: Offering unique local experiences or ensuring high-quality service can lead to positive reviews and repeat bookings.
Future Outlook
The upcoming months promise continued growth as the tourism season commences.
With events such as the Easter celebrations bringing families and tourists alike to locations across Greece, a robust performance is anticipated.
The increase in both supply and demand bodes well for the future of short-term rentals in Greece.
With each passing year, the landscape of the rental market evolves, presenting new opportunities for property owners to engage with a diverse audience seeking memorable experiences in beautiful settings.
The Trends
In the realm of short-term rentals in Greece, current insights reveal significant developments. The data from AirDNA highlights several key points regarding the market dynamics.
High Demand Surpassing Supply
Greece has experienced one of the highest growth rates in demand for accommodations across Europe, especially during February.
Cities like Athens, Thessaloniki, and Crete are leading this trend, each recording double-digit growth as more visitors seek available lodging.
This surge suggests a robust appetite for travel to these popular destinations.
Easter Bookings on the Rise
Looking ahead to the Easter period, current bookings have already exceeded 2024 levels for the same timeframe.
This increase indicates that travellers are planning their holidays earlier than before, reflecting not just the heightened demand but also a shift in consumer behaviour towards advanced planning.
Spring Travel Trends
There is an upward trend in spring travel.
February bookings for future stays in Greece have risen by 18% year-on-year, positioning the country as one of the fastest-growing short-term rental markets in Europe.
As summer approaches, Greece is solidifying its status as a highly sought-after destination for tourists across the continent.
Key Destinations
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Thessaloniki: Known for its rich history and vibrant culture, Thessaloniki has become an attractive choice for families and travellers looking for urban experiences. The ongoing increase in bookings signifies its growing popularity.
-
Chalkidiki: This region is famous for its beaches and natural beauty. The appeal of Chalkidiki is evident as more families consider it for their holiday plans, especially during the warmer months.
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Athens: As the capital city, Athens offers a mix of historical and contemporary attractions. The demand for stays in Athens continues to be high, with new venues catering to different types of travellers, from solo adventurers to large families.
Booking Patterns
- Advance Planning: More travellers are booking their stays significantly earlier.
- This change can be seen in the season’s higher occupancy rates, particularly around major holidays like Easter.
- Increased Competition: With the rise in demand, property owners are gearing up to offer more competitive rates and improved amenities to attract guests.
Family Travel Focus
Families are increasingly opting for short-term rentals as they provide more space and convenience compared to traditional hotels.
This is particularly true in sprawling areas like Chalkidiki, where families can enjoy both relaxation and adventure in close proximity.
Market Analysis
The analysis underlines that as the summer season draws nearer, Greece will bring forth more appealing options for visitors.
The combination of stunning landscapes and rich culture continues to make the country a favoured location for tourists.
The European Market
The short-term rental market in Europe is experiencing notable growth.
As of February, the overall demand for short-term rentals has risen by 12.1% year-on-year, reaching a total of 24 million overnight stays.
This increase has been particularly significant during the Easter period, which sees a surge in bookings.
The number of listings across Europe has also increased, showing a rise of 7.7% year-on-year, now totalling 3.1 million available properties.
This growth reflects the growing popularity of short-term rentals as a preferred accommodation choice among travellers.
Key Metrics
Several important indicators provide insights into the health of the short-term rental market:
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Average Daily Rate (ADR): The average price per day across Europe has been recorded at €158, which is nearly unchanged from the previous year, reflecting a slight increase of 0.9%.
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Occupancy Rate: The average occupancy across properties in February stands at 54%, representing an increase of 3% compared to the previous year.
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Revenue per Booking: The revenue generated for each overnight stay has strengthened, rising by 4.3% to reach €89.
These key metrics illustrate the robust nature of the European short-term rental market, showcasing the appeal of this segment to both property owners and consumers.
Future Reservations
Future bookings serve as a crucial indicator of demand trends in short-term rentals.
According to data from AirDNA, reservations made in February for stays throughout the same month or in future months increased by 13.7% year-on-year, totalling 41.3 million bookings.
This figure follows a record set in January, establishing a strong foundation for the upcoming months.
This upward trajectory in future bookings highlights growing confidence in travel and tourism across Europe.
As travel restrictions have relaxed and consumer sentiment improves, many are keen to explore various destinations, contributing to the demand for short-term rentals.
Factors Driving Growth
Several factors are driving the growth of short-term rentals in Europe:
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Changing Travel Preferences: More travellers are opting for unique, local experiences rather than traditional hotel stays.
Short-term rentals often provide a more personal touch and allow for immersive experiences in local culture.
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Increased Flexibility: The flexibility of short-term rentals is appealing in a post-pandemic world.
Many consumers prefer the option to choose accommodations that suit their needs, whether for business or leisure.
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Technological Advancements: Platforms facilitating short-term rentals continue to evolve, making it easier for property owners and renters to connect.
Enhanced user experiences and streamlined booking processes have attracted more participants to the market.
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Urban Tourism Growth: Major cities in Europe, such as London, Paris, and Barcelona, have ongoing popularity as travel destinations.
These urban centres are often hotspots for short-term rentals, attracting both international tourists and locals seeking city getaways.
Challenges Facing the Market
Despite the positive growth trends, the short-term rental market is not without its challenges. Various issues could influence the sustainability of this growth:
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Regulatory Environment: Different regions have enacted various regulations concerning short-term rentals. Understanding and complying with local laws can be complex for property owners and managers.
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Market Saturation: As more listings become available, competition among property owners intensifies.
This saturation could lead to price wars, thereby impacting the profitability of rental businesses.
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Economic Factors: Fluctuating economic conditions can affect consumers’ willingness to spend on travel and accommodation.
Economic downturns or increased living costs may lead to reduced demand for short-term rentals.
The strongest short-term rental destinations in Greece for 2025 so far according to Hosthub
During the first quarter of 2025, short-term rental properties in Greece have witnessed a significant increase in occupancy rates, reaching 16% compared to the same period in 2024. According to data presented by Hosthub, occupancy levels are now at 15.7%, up from 13.5% last year.
Meanwhile, the average nightly rate has decreased by nearly 2%, settling at €106.5, down from €108.5 in the first quarter of 2024. Despite the drop in prices, revenue does not appear to be negatively impacted.
The average revenue per short-term rental in Greece has risen by 18.7%, and revenue per available room has increased by 17%.
This data comes from a study examining thousands of rental properties in the Greek market, representing an estimated 7-9% share of the overall market. The findings compare bookings made up until 5 March 2025 for stays throughout the year against similar data from 2024.
Athens and Its Rapid Growth
Athens is continuing to solidify its position as a key player in the short-term rental market. The city’s occupancy rates have surged by 19.6% to 22%, although the average price per night has dropped by 6.8% to €94.2.
Despite this dip in pricing, the average revenue per rental has increased by 17.2%, with revenue per available room climbing by 14%.
The “Athenian Riviera” is experiencing remarkable development, driven by ongoing projects in the Hellenic area.
The southern suburbs of Athens also show promising signs, with a 13.6% rise in occupancy rates (18.2%) and an average price of €80.2, reflecting a decrease of 3.6% from the previous year.
Nonetheless, the average revenue per rental in these suburbs has boosted by 12.3%, while available room revenue has seen an increase of 10.4%.
Thessaloniki: A Diverse Market Experience
In contrast, Thessaloniki reports decreases in both occupancy rates and nightly prices, which stand at €53.3—a decline of 2.4% and 10%, respectively.
This city shows the least seasonal fluctuation, maintaining relatively constant occupancy levels throughout most of the year. The stability in Thessaloniki’s market is notable, even as other destinations fluctuate.
Crete: A Popular Tourist Hub
Crete remains one of the most sought-after tourist destinations, showcasing an impressive increase of around 25% in the average price per night, now at €139.6, compared to €111.1 last year.
The occupancy rates in Crete have reached 14.4%, indicating a healthy demand for short-term rentals. This popularity is a testament to Crete’s undeniable appeal among travellers.
Summary of Key Statistics
Destination |
Occupancy Rate |
Average Price |
Average Revenue per Property |
Revenue per Available Room |
|---|---|---|---|---|
Greece Average |
15.7% |
€106.5 |
+18.7% |
+17% |
Athens |
19.6% |
€94.2 |
+17.2% |
+14% |
Southern Suburbs |
13.6% |
€80.2 |
+12.3% |
+10.4% |
Thessaloniki |
Declining |
€53.3 |
– |
– |
Crete |
14.4% |
€139.6 |
+ |
+ |
These statistics reflect an evolving market where short-term rentals are increasingly shaping the tourism landscape in Greece. The increase in occupancy rates alongside fluctuating prices indicates a complex interaction between supply and demand in various regions.
Trends in Revenue and Pricing
While overall average prices are witnessing a decline, the revenue generated from rentals is robust, suggesting that property owners may be enhancing their offerings or adjusting strategies to attract more guests.
The data from Hosthub indicates that adaptability in pricing and service could help sustain profitability, even as competition grows within the rental market.
Conclusion: Insights into the Market Dynamics
The short-term rental market in Greece is clearly multifaceted with Athens and Crete leading in terms of visitor interest and revenue generation.
Each area’s unique characteristics contribute significantly to the overall performance of short-term rentals throughout the country.
As the 2025 tourist season progresses, ongoing developments and strategic marketing will be key to capitalising on this upward trend in occupancy, particularly for high-demand locations like the Athenian Riviera and the popular island of Crete.
For further insights on the strongest rental destinations in Greece, data from Hosthub provides a thorough overview of how these trends are shaping the future of short-term rentals in the region.
Frequently Asked Questions
What are the top neighbourhoods for booking an Airbnb in Athens?
Athens offers several great areas for Airbnb stays. Plaka is popular for its charm and proximity to historical sites. Kifisia is known for its upscale vibe, while Psyri provides a lively nightlife. Monastiraki is great for shopping and local markets. Each area has its unique appeal, catering to different preferences.
How do Airbnb prices in Thessaloniki measure up to those in Athens and Crete?
Airbnb prices in Thessaloniki tend to be lower than in Athens and Crete. Visitors will find that Thessaloniki offers good value for comfortable accommodations. In contrast, Crete can have higher rates during peak seasons due to its demand among tourists.
What factors should be taken into account when selecting an Airbnb in Crete?
When choosing an Airbnb in Crete, guests should consider location, amenities, and accessibility. Proximity to beaches and tourist attractions can enhance the experience. Checking guest reviews is also crucial, as it provides insight into the property and host quality.
Are there local rules regarding Airbnb rentals in Athens, Thessaloniki, or Crete?
Yes, each city has its own regulations for Airbnb hosts. Athens requires registration and adherence to safety standards. Thessaloniki and Crete have similar requirements, focusing on guest safety and property maintenance. It is wise for hosts and guests to be aware of these rules to avoid issues.
Can you suggest popular Airbnb properties in Greek tourist spots?
Several Airbnb properties in popular tourist spots tend to attract attention. In Santorini, villas with caldera views are highly sought after. In Athens, stylish apartments in central areas are in demand. Thessaloniki offers modern flats near the waterfront, while Crete boasts charming cottages near the coast.
When is the busiest time for Airbnb bookings in Athens, Thessaloniki, and Crete?
The peak season for Airbnb rentals generally falls during the summer months, from June to August. This is when tourists flock to these destinations for holidays.
Spring and early autumn also see high demand, as the weather is pleasant and attractions are less crowded.
