Short-term rentals are not so cheap
The average nightly rate for short-term rental accommodation in Greece in July and August stands at 232 euros per night, based on confirmed bookings so far.
However, occupancy does not exceed 44% of the total available listings for this type of accommodation on the internet. Even so, Greece is the second-most expensive country and has the second-highest occupancy of short-term rentals compared to the competition. That is, accommodation in the Balearic Islands, which are first in terms of occupancy, in Italy, (mainland) Spain, Cyprus and Turkey. These price levels in Greece confirm not only that short-term rentals are now a significant part of the hospitality market, but also that they can be priced in direct competition with hotels.
This is according to the data provided to Kathimerini by Key Data, a short-term rental market data platform for professional managers, tourism organizations and investment funds, which provides data and artificial intelligence tools to evaluate this data.
Based on this platform, in Greece the supply of short-term rental apartments and houses in the current month of July amounts to 153,785 units, up by 7% from July 2022.
