The average cost of a hotel room in Athens rose to 125 euros in April, while occupancy and average income per room also improved as tourism continues to recover strongly and Athens becomes a 12-month destination. According to the Association of Hotels of Athens, Attica and Argosaronicus (EXAAA) and GBR Consulting, April closed for hotels in Athens with an average occupancy of 75.7%, i.е. improved by 5% compared to March 2023, but also by 16.6% compared to April last year (2022). On a four-month basis, the city’s average hotel occupancy was 63.7%, 5.9% behind the corresponding four-month period in 2019, the year before the pandemic. At the four-month level, the average room rate (ADR) in Athens hotels increased by 17.2%, as well as revenue per vacant room (REV PAR) by 10.3%.

Phenomena of unreasonable rise in prices for building materials

Market sectors where speculation may need to be tightened include the building materials sector. Real estate market participants note that there are phenomena of significant and unjustified appreciation, as the sector is experiencing an unprecedented “spring”, and there is also a “justification” for the war in Ukraine, despite the fact that 18 months have passed since it began. the supply chain has largely been restored. The combination of very strong demand for both construction projects and infrastructure projects seems to have cemented a constant price “inflation” where price competition between companies and stores selling building materials…intensifies. In April, the year-on-year growth was 8.4%, and compared to March, the growth was 0.7%. The average index for the 12 months from May 2022 to April 2023 increased by 11.1% year on year.