Greece sees demand for Airbnb-style rentals continue through October

Santorini island, Greece.

According to a study by Panhellenic Network of E-Real Estates.

Released on Friday, the study refers to demand for short-term rentals in Greece, with pre-bookings reaching 85-95% for September and 60-80% for October.

According to the study, there is significant interest in staying in short-term rental properties on 13 islands of the country which spread out in the Cyclades (Naxos, paros, Santorini, Tinos, Mykonos, Andros, Kea, Kythnos), the Dodecanese (Patmos), the Sporades (Skiathos, Skopelos) and also the Saronic (Hydra, Spetses).

Some Greek islands have 500 to 600 properties (or even less than 300) listed on short-term rental platforms (Airbnb and others) and others have a few thousand properties for rent (Mykonos, Santorini, Paros, Tinos, Naxos).

“In any case, the course of pre-bookings shows that the short-term rental accommodation model can help extend the tourist season,” said the president of the Panhellenic Network of E-Real Estate, Themistoklis Bakas.

demand peaks

Kythnos Island, Greece.  Photo source: General Secretariat for Civil Protection

Kythnos Island, Greece.

According to the study, pre-bookings of short-term rentals in popular island destinations in Greece are seeing an increase for the first days of September and October.

The destination with the highest demand (95%) for short-term rental stays in Greece for the first five days of September is Santorini (3,739 properties listed on the platforms). The island of Skiathos (631 properties) follows with pre-bookings at 89%, then is Hydra (329 properties) with 88% demand, Skopelos (824 properties) with pre-bookings at 86% and Naxos (2,411 properties) with an 82% demand. The list of destinations with the highest demand for short-term rental stays includes Kythnos (268 properties), paros (2,902 properties) and Mykonos (3,615 properties).

Regarding the first five days of October, Santorini is again in the lead with a demand of 83%. Naxos is the second in demand with pre-bookings for short-term rental on the island at 74%, followed by Hydra and paros with pre-bookings at 69% and Skiathos and Skopelos with pre-bookings at 68 percent.

Rising demand since the start of the year

Citing data from AirDNA, the study shows that demand for short-term rentals during the summer season, based on bookings made for July, August and September, increased by 26.5% compared to the corresponding period in 2019, registering a peak performance in Europe. .

“Since the beginning of 2022, we have reported that the short-term rental industry will surpass 2019 levels this summer, which can be confirmed,” Bakas told local media.

Island of Skopelos, Greece

Additionally, data from AirDNA showed that demand in the short-term rental sector through March this year saw a 232% increase in demand for the months of June, July and August compared to to the corresponding period in 2021.

The data also showed that prices for short-term rentals in Greece look 10% more expensive on average compared to 2019.

“This year, the revenue target is 1.4 billion euros, exceeding the turnover of 2019, with the short-term rental sector being part of the recovery of our country’s tourism industry” , Bakas said.

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