The short-term rental market is breaking records: Airbnb announced 100 million bookings made in the first quarter of 2022, a record since the company was founded.
After the era of the coronavirus pandemic, Airbnb is gaining momentum again in Greece. It is expected that this season there will be a record of arrivals, it seems that citizens who have stayed at home for a while are in a hurry to catch up. For landlords, short-term rentals mean a big influx of money.
How the rent is calculated
A house with a rent of 500 euros per month has a yield of 6,000 euros per year, while on Airbnb the rent reaches a minimum of 50-60 euros per day. Income can be up to 3,000 € more than with regular (long-term) rent. On the one hand, this drives up rental prices, and on the other hand, landlords quit their jobs to engage in real estate, especially if the properties are located close to archaeological sites and attractions.
A neat house, in a good location, can have a daily rent of 165 € and bring in unprecedented profits. A privileged home, such as a maisonette by the sea, which was rented for 1,000 euros per month, that is, 12,000 euros per year, can be listed on the Airbnb platform for 120 euros per day. The rental amount can reach 18,000 euros per year.
However, do not forget that the owner must deduct tax, operating costs for water, electricity and utilities from them. And one more thing: in areas where Airbnb “thrives”, the ENFIA payment has increased.