Greece Among Top Five Most Expensive European Airbnb Markets This Summer

Demand for the Greek summer is up 17% this year, and the average price in Greece is 253 euros, the fourth most expensive pan-European average.

With record-breaking growth rates averaging 19% this summer for short-term rentals in Europe, Greece is currently below the European average at +17%. However, it maintains one of the highest average prices per available room pan-European, alongside Iceland, Monaco, and the United Kingdom.

Specifically, based on data from AirDNA, a well-known short-term rental data analysis company with data from Airbnb and VRBO platforms, for the “hot” period of June to August, our country is in the top 5 of the most expensive markets, with an average price of 253 euros. The data is based on bookings made by May 15, and the demand increase across Europe for June and July is at +17% and for August at +22%. The growth rates in our country are also in double digits, although slightly lower compared to the European average. However, Greece shows a marginal increase of +1%.

Iceland leads the way this summer with an average price of 264 euros, followed by Monaco at 261 euros and the United Kingdom at 260 euros. Spain, the top European destination in the Mediterranean, completes the top 5, ranking fifth after Greece with 236 euros. Kosovo, Belarus, and Moldova are the three cheapest countries, with prices ranging from 50 to 52 euros. On average this year in Europe, room prices are up by 9% compared to last year, with Greece, despite being included in the 5 most expensive markets, experiencing a marginal increase of +1%.

Destinations with the highest growth rates are found in Denmark (+27%), the United Kingdom (+16%), Spain (+14%), Poland (+13%), and Germany (+13%).

It is noted here that pan-European, based on data from the 20 largest markets monitored by AirDNA, short-term rental stays last summer during the June-August season accounted for 37.3% of the total year, while earnings for “hosts” were approximately 40% of total revenue. “The current increase in short-term rental demand and reservations throughout 2024 creates optimism regarding the expenses that the travelling public intends to make this year,” according to AirDNA’s analysis. “So far, the rate of overnight stays compared to last year is on average increased by 12.8%, and the increase in overnight stays with reservations made is at +17.5%,” the analysis commented, with the analytics company speaking of the historically highest season for short-term rentals in Europe.

As for the course up to today, our country, given that the January-April period is considered the low season, is among the four countries that experienced a drop in the average price during this period, close to 2%, with Croatia (-6.4%), Sweden (-3.9%), and Norway (-3%) also experiencing declines. In contrast, Denmark, Portugal, and Hungary saw double-digit increases, reaching up to 15.5%.

Source: GCT