A significant decrease compared to 2019 was recorded in the number of individuals and individual owners who manage their property through short-term rental digital platforms. On the contrary, there is an increase in advertising from professionalsbe it investors or property management companies, a sign of the industry moving towards a more professional way of working.

Mediation of the pandemic, which has sharply reduced the demand for rental of property short-term rentals, as well as a significant increase in rental rates, which averages around 30-40% in the major urban centers of Athens and Thessaloniki from 2018 to the present, has prompted most owners to long-term rentals.

Somehow in Athens today and based on the data he collected on behalf of “K” short term rental company AirDNA, only one out of three ads concerns the owners of one property in operation. In particular, the share of individual owners is 31% compared to 42% in 2019. Nationally as a whole, the corresponding percentage is 40% compared to 46% in 2019.

The number of private and individual owners is constantly decreasing, while the number of professionals is increasing.

The greatest increase is observed in ads (from the administrator – the owner) of 6-20 placements. The share of this category has now increased to 22% in Athens from 15% in 2019 and to 15% nationally from 11%. However, in popular holiday destinations such as Mykonos, the growth is even greater, as the corresponding share is now 25% of all listings, compared to 17% in 2019.

At the same time, an important development concerns the greater penetration of professional property management companies, especially in Athens. Companies that manage over 21 properties currently make up 21% of listings, up from 16% in 2019. Some of them, such as Dimitris Rizos’ Homm manage both private and third party properties. According to the annual AirDNA survey, which was released a few months ago, Hm managed a total of 218 properties, being the largest company of its kind. Other companies such as Mint Nasos Gavalas manage exclusively the property of third parties.

In other words, the company Transparent, a strategic partner of STAMA Greece (Association of Short Term Property Companies), reported a few weeks ago in its related analysis that the Athens market has recorded the second largest growth on a pan-European level in terms of the percentage of professionals working in it. In particular, Athens is up 22% compared to Paris’s 35% growth, while the Milan market follows with a 17% increase and the Cannes market with 15%.

As all studies of short-term rentals to date have shown, the higher the percentage of professional management in the market, the less seasonal it is, since the property is in operation longer (even 12 months) and occupancy increases. In addition, the shift of more owners to seek cooperation with professionals of this type indicates a higher competition in the market, as well as the development of the short-term rental sector.