Do I have to convert my rental property into Airbnb? Greece bookings skyrocket, Spain mixed
Vacation rental bookings on platforms such as Airbnb climbed 200% in Athens this summer, from 2019 levels, with the Greek capital ranking among the best performing cities in the world, according to United Data Studio rental.
In Italy, the market is also recovering, but is taking longer to do so, while the data for Madrid show that bookings have increased, up about 8% from two years ago, when the pandemic first hit Europe.
The gradual resumption of travelling abroad helped boost crucial tourism sectors in southern Europe this summer thanks to strong demand from European and American travelers.
Figures provided by Rentals United do not show that they cover the month of August when tourism was particularly strong in markets like Greece.
“The demand for vacation rentals in Greece has been huge this summer and that includes Athens as well. Vacation rentals in Greece are particularly popular among travelers Spain, France and Italy ”, Rentals United says in a statement.
“Thanks to their open borders and relaxed restrictions, compared to 2019, Athens saw an average percentage increase of over 201.01%,” the company said.
The most successful platforms for renting short-term properties in Athens are Expedia, Airbnb, Booking.com, Ostrovok and Agoda, he adds.
In Spain, the country’s two largest cities, Madrid and Barcelona, show mixed results.
As Spain bounces back, Barcelona are taking a little longer to get back to pre-pandemic times. The peak of Covid cases in Barcelona in July clearly took a hit with reservations.
“Barcelona is starting to look a little more positive in terms of bookings, but we are still seeing an average percentage drop of 28.4% compared to 2019,” the company stressed.
Tourism in Spain has performed well this year, supported by Spanish residents traveling although the pandemic continues to weigh on the number of foreigners visiting the country. Some hotel owners say they have had a better season than in 2019 as the industry heads towards pre-pandemic levels.
In Italy, the trends are similar with growth largely supported by domestic travelers.
“Italy as a whole is rebounding extremely well, thanks to its popularity with French travelers able to cross the border by car. Italian cities, on the other hand, take a little longer to bounce back, ”says Rentals United.