In the amount of 2.2 billion euros, income from placement in short-term rental housing in the Greek market by 2022 compared to 1.4 billion euros in 2019. According to the latest report from short-term rental research company AirDNA (www.airdna.co), published yesterday, the average price per night in the Greek market rose to 193 euros last year. , which means an increase of 35% compared to 2019 and 15% compared to 2021.

This is a clear example of an increase in demand compared to previous years, as well as a stabilization of supply, which has not grown at the same pace. At the same time, preference was given to high-quality accommodation in popular tourist destinations such as historical center of Athens, Mykonos and Santoriniwhich led to a corresponding increase in the income of owners and managers.

According to her AirDNAIn 2022, there were 11.5 million overnight stays, up 56.8% from 2021. More importantly, there were 19% more overnight stays than in 2019, the last year before the outbreak. At the pan-European level, growth in 2022 in Greece was the fourth largest out of 20 countries.

Accordingly, while demand increased significantly, supply did not increase at the same rate. According to AirDNA, the monthly average number of available numbers nationwide was 105,700 last year, up 12.4% from 2021. quite a few properties have returned to short-term leases, they have not returned as quickly as foreign visitors. Thus, the average occupancy for 2022 reached 55%, which is 5% higher than in 2019 and 2021.

The average price per night has increased by 35% compared to 2019 and by 15% compared to 2021.

In the European market as a whole, 2022 saw a full recovery in short-term rentals after a two-year decline. In particular, the number of overnight stays was 355 million, which is 39% higher than in 2021 and 3% higher than in 2019. This change resulted in a total revenue of €50.6 billion.

In terms of affordable housing supply, last year the relative size averaged 2.5 million properties, up 11.2% from 2021. However, compared to 2019, this represents a 7.4% decline, which is a sign that some properties are still off the market. Accordingly, the average occupancy increased by 6.9%. Demand was strong in December alone, as bookings increased by 10.2% (depending on the number of nights) compared to the corresponding month in 2019, and compared to 2021, the growth reached 47.4%.

Financial opportunities

However, one trend that appears to have gained significant momentum in 2022 has been the increasing shift of visitors to more affordable accommodation options. As the latest data on European market dynamics show, the largest increase in occupancy was observed in smaller and more affordable apartments in the city center, without many luxury amenities, such as residential buildings. pools or hot tubs.