Greece, a European “electricity market” for an Airbnb-type demand
Greece scored a 61.8% increase in total summer demand for short-term rentals compared to 2021 and posted some of the strongest results this summer in terms of room nights booked, AirDNA said this week.
Specifically, according to AirDNA’s “Europe Market Review” published on Wednesday, Greece was one of the nine largest countries for short-term rentals in Europe (out of 20) which saw nights booked in June, July and august. 24.1% increase compared to 2019 before the pandemic.
Besides Greece, the best results in Europe for the same period and compared to 2019 were recorded in other “electricity markets”. Germany (24.8%) and France (21.9 percent).
According to AirDNA’s report, all of the top 20 European countries saw higher demand this year compared to last summer, with southern European destinations winning the crowds. As an indication, six of the top 10 city-break destinations expected to see even more demand by the end of the year are in Italy, Portugal, Greece and Germany.
AirDNA analysts said Athens was in high demand in the first nine months of 2022 and is expected to continue growing in the coming months. The estimated demand for Athens in the last months (September-December) of the year is up by 124.9% over the same period in 2021.
Munich records the strongest growth in demand in the fourth quarter with 164% more nights booked than in 2021, followed by Porto and Lisbon, Rome, Naples, Milan, Turin, Venice and Florence.
Overall, in Europe in August, request for nights in Airbnb-style rentals increased by 35.9% on 2021 and by 0.2% compared to 2019.
Average daily rates (ADR) increased by 1.2% compared to 2021 and by 16.5% compared to 2019. Listings available increased by 13.8% compared to 2021, but decreased by 10.8% compared to 2019. Occupancy levels reached 76.5%, an increase of 4.3% compared to 2021, while total income increased 30.1% from the same month in 2021 and 16.7% from 2019 levels.
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