Demand for Airbnb rentals in Greece maintains an upward trend in September 2022, marking a 13.5% increase for overnight stays compared to the same month before the pandemic, analytics firm AirDNA said.
More specifically, according to AirDNA’s “Europe Market Review”, Greece is among the 6 countries that exceeded demand in 2019 this year, ranking 4th after France (+19.2%), Germany (+15.7%), Austria (+15.1%), Belgium and Italy (both 1.2%).
Ranked 8th, Greece was among the eight countries in Europe that saw an increase in the number of Airbnb-style listings, up 0.6%. Norway recorded the largest increase in the list available, up 11.2%, followed by France (+8.5%), and Poland (+7.7%).
In terms of average Airbnb rental costs, Greece – matching all European destinations – marked a 4% drop year-on-year, which AirDNA says has renewed interest in destinations in the city.
In addition, Greece also saw a strong 61.8% increase in demand for short-term rental options in the summer compared to the same period in 2021. The country performed well in terms of overnight guests, increasing 24.1% more than before Covid in 2019 and ranked 3rd in the Top 3 out of 20 countries after Germany (+24.8%) and ahead of France (+21.9%).
According to AirDNA data, demand in October and November will continue to be stable but is expected to slow down from December to March with Greece expecting a 40% decline in short-term rental demand during the period of 2019. Based on data from October onwards, demand for Airbnb-style rentals for October and November across Europe is up 8% from 2019 levels.
Overall in Europe in September, listings of available rentals on Airbnb grew 16.1% year-on-year to 2.99 million but were down 9.4% compared to 2019. Total demand increased by 33.9% compared to 2021 and the rate was down 9.4%. Occupancy rate increased to 61.4%, up 2.7% compared to 2019 and up 6.5% over the same period last year. The average daily rate (ADR) is down 0.1% from 2021 but still 25.3% higher than 2019.
“There is still a lot of pent-up travel demand, but in general, travelers can decide to choose more budget-friendly destinations and destinations closer to home. Hosts should be aware of some of the prevailing trends in the post-pandemic era that could help capitalize on some of that pent-up demand, especially for digital nomads and ‘bleisure’ travelers (business + leisure at the same time),” AirDNA.
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Source: GTP Headlines