Greece remains one of the most expensive short-term rental (Airbnb) markets in Europe, however the latest AirDNA data shows that the biggest characteristic of the domestic market is not just the price level, but mainly the intense seasonality, which continues to differentiate it from other European destinations. The company’s analysis, which is based on average daily accommodation costs on an annual basis, ranks Greece 12th among 42 European countries, with an average price of €141 per night.
Read: Council of State: Deciding the future of short-term rentals in Plaka
Airbnb: “High” in Mediterranean and Balkans
Although the Greek market is significantly below the levels of Monaco, which remains Europe’s most expensive destination with an average cost of €417 per night, it continues to rank above many competitive Mediterranean and Balkan destinations. The top positions in the ranking also include Iceland with €211 per night, Andorra with €189, Switzerland with €184 and the United Kingdom with €176, countries
that traditionally maintain high price levels in both the hotel sector and short-term rentals.
Beyond the overall ranking, the behavior of prices throughout the year is of particular interest. According to AirDNA, Greece shows the largest price deviation between summer period and the rest of the year at a pan-European level, highlighting the tourism product’s heavy dependence on summer months. Specifically, during high season, the average accommodation cost increases by 55%, reaching €174 per night, compared to €112.64 during the remaining nine months.
This picture confirms that, despite efforts to extend the tourist season and strengthen city tourism or special forms of tourism, the Greek market continues to depend heavily on demand during June, July and August. At the same time, it explains the increasing trend of many foreign visitors to choose trips during spring or autumn, when accommodation costs are significantly lower and the experience is often more comfortable due to reduced tourist pressure.
Seasonality becomes even more apparent in popular island destinations, where demand is concentrated almost exclusively in the summer period.
A characteristic example is Mykonos, which records the largest price difference in Greece. According to AirDNA data, the average daily accommodation price on the island reaches €758 during summer months, a level increased by 65.6% compared to the €458 recorded on average during the remaining nine months of the year.
This difference reflects the unique position that Mykonos holds in the international luxury tourism market, but at the same time highlights the limitations of a model that relies heavily on concentrating demand in a short time period.
Although Greece records the largest seasonal variation at the country level, similar phenomena appear in other popular destinations in Southern Europe. In Croatia, which follows in the highest deviations, accommodation costs increase by 37.6% in summer, reaching €154.2 per night, compared to €112 during the rest of the year. Similarly, in Portugal prices increase by 36.5%, from €117.27 to €160 per night.
Published in “Parapolitika” newspaper.
