TOURISM

Short-term rentals rebound in Athens

short-term-rentals-rebound-in-athens

The Greek capital as a tourism destination has already returned to the same levels as its pre-pandemic activity, with short-term rentals in the months of July and August easily considered “excellent,” given their performance.

Data from researchers AirDNA showed that the average monthly revenue last month for a short-term rental amounted to 1,088 euros, with the average occupancy rate above 80% and the average rate per night at €61.

AirDNA, which analyzes data from ads on the Airbnb and Vrbo online platforms on a daily basis, had observed a similar picture in July, with average monthly takings of €1,064 per property and an occupancy rate of 83%.

Active ads (those with at least one guest in the last 30 days) in the center of Athens amount now to 7,623, up from 7,451 in July and some 7,000 in May, illustrating the gradual return of hosts to the digital rental platforms.

Nevertheless, there are some significant differences from the pre-pandemic period: The bulk of ads concern assets in the most popular spots for foreign visitors, such as Plaka, Monastiraki, Syntagma, Psyrri, Metaxourgeio, Gazi and Kerameikos: They are areas that allow for higher returns. 

The other shift is that most properties advertised are now managed by companies.