According to a study by the Panhellenic Network of E-Real Estates, booking in advance for September and October for Greek holidays registered on short-term rental platforms will help extend the country’s tourist season, shows that the demand for Airbnb rentals in Greece continues to increase strongly.
Published on Friday, the study addresses short-term rental demand in Greece with reservations reaching 85-95% for September and 60-80% for October.
According to the study, there is considerable interest in staying at short-term rental properties on 13 islands of the country, including the Cyclades (Naxos, Paros, Santorini, Tinos, Mykonos, Andros, Kea, Kythnos), Dodecanese (Patmos), Sporades (Skiathos, Skopelos) and also Saronic (Hydra, Spetses).
Some Greek islands have 500-600 properties (or even less than 300) registered on short-term rental platforms (Airbnb and others) and others have several thousand properties rental properties (Mykonos, Santorini, Paros, Tinos, Naxos).
“In any case, the booking process shows that a short-term rental model can help prolong the tourist season,” said Panhellenic Electronic Real Estate Network President, Mr. Themistoklis Bakas.
Demand is peaking
According to research, bookings before short-term rentals in popular Greek island destinations are increasing in the first days of September and October, showing that the demand for Airbnb rentals in Greece continues to grow strongly.
The destination with the highest demand (95%) for short-term vacation rentals in Greece during the first 5 days of September was Santorini (3,739 properties listed on the platforms). Skiathos Island (631 properties) followed with 89% bookings and then Hydra (329 properties) with 88% demand, Skopelos (824 properties) with 86% and Naxos (2,411 properties) have demand at 82%. The list of destinations with the highest demand for short-term rental accommodation includes Kythnos (268 properties), Paros (2,902 properties) and Mykonos (3,615 properties).
During the first five days of October, Santorini once again led with demand at 83%. This is followed by Naxos with reservation demand for a short-term rental property on the island at 74%, followed by Hydra and Paros with bookings of 69% and Skiathos and Skopelos with bookings of 68%.
Demand has increased steadily since the beginning of the year
Citing data from AirDNA, the study found that demand for short-term rentals during the summer, based on bookings made for July, August and September, grew 26.5% year-on-year. 2019, recording top performance in Europe.
“Since the beginning of 2022, we have reported that the short-term rental industry this summer will surpass 2019 levels, which can be confirmed,” Bakas told local media.
Furthermore, AirDNA data shows that demand in the short-term rental industry as of March this year recorded a 232% increase in demand in the months of June, July and August compared to the corresponding period in 2021.
The data also shows that short-term rents in Greece are on average 10% more expensive than in 2019.
“This year’s revenue target is 1.4 billion euros, surpassing 2019’s revenue with the short-term rental sector being part of the recovery of our country’s tourism industry,” Bakas said.
VNIS INVESTMENT
Source: GTP Headlines
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