In August, Greece’s short-term rental market recorded significant growth, according to AirDNA data. Accommodation supply increased by 4.9% year-on-year, while demand strengthened by 5.2%. Meanwhile, occupancy rates dropped marginally by 0.5%, as supply growth outpaced demand.
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In Athens, Airbnb-type accommodation listings rose 11%, while demand moved up 5%. For the entire summer period, AirDNA records a 6.4% increase in requested overnight stays, 5.2% in supply, and a small 0.6% boost in occupancy rates. The average daily rate (ADR) for accommodations in Greece reached €201, with occupancy touching 70% for the June-August period. At the European level, the average nightly rate declined marginally to €171.12. Analysts emphasize that Greece continues to be one of the most dynamic short-term rental markets in Europe.
Across Europe, northern and central countries like Norway, Poland, and Czech Republic recorded double-digit growth, while tourist destinations like Marbella and Dubrovnik showed the highest revenue per available room (RevPAR). In Greece, RevPAR reached €142, compared to the European average of €125.85. The growth in short-term rental supply continues dynamically in 2024. In July, available accommodations reached 246,000, offering a total of 1.078 million beds — a new historic record. According to SETE Institute, compared to July 2023, beds increased by 57,000.
Airbnb: Where brakes are applied from October 1st on short-term rentals
Within this environment, the government is extending from October 1st the suspension of new Airbnb licenses to five additional areas: Thessaloniki, Chania, Santorini, Paros, and Halkidiki. The decision, which follows the extension of the measure in central Athens through 2026, aims to limit housing distortions that have been created. In Chania and Santorini, local communities express intense concern about the alteration of their areas’ character, while in Paros and Halkidiki, permanent residents struggle to find affordable housing.
Meanwhile, the government is examining additional measures for the short-term rental market, aiming to increase long-term housing supply and protect neighborhood character. Among the measures is extending the ban on new Airbnb properties in three Athens municipal districts and possibly expanding it to other areas. Additionally, maintaining the three-year tax exemption for owners who convert their properties from short-term to long-term rentals is proposed.
