Bookings on the short-term rental platform skyrocketed this summer, with travelers opting for Airbnb deals as a result of an overall rise in the cost of living.
The rapid expansion of Airbnb has dramatically changed the landscape of “travel travel”. The large number of properties featured on the short-term rental platform, combined with other factors such as the economic downturn in some northern European countries, is having a significant impact on the development of the tourist season this year.
Average hotel prices in Europe and Greece have risen, while airfare prices have jumped to a five-year high. Due to inflation, travelers planned their holidays based on cost, with 80% preferring short-term rentals (like Airbnb apartments) over hotels.
Airbnb in Athens: which areas tourists prefer
As can be seen from the table, tourists prefer Attica, in particular, ten districts around the center of Athens.
Koukaki, Fisio, Plaka, Kolonaki and Syntagma are the most popular areas for short term rentals.
In the southern suburbs, such as N. Cosmos, Kalithea and Glyfada, there is an upward trend, while Piraeus also recorded impressive performance. The price per night for Airbnb accommodation in the above areas ranges from 40 to 260 euros and is for an apartment with a living room, bedroom, kitchen and bathroom.
It is a fact that the short term rental industry is a solution for families on a budget.
Panhellenic Property Managers Association President Andreas Hiu, speaking at Vima tis Kyriaki, reports that “Demand for short-term rentals (like Airbnb) remains strong, making this sector a powerhouse for attracting new tourists to the country.
Also revealing is data from AirDNA in Greece, according to which demand for short-term rental housing grew by 50.5% in June 2023 compared to last year, while supply increased by only 13.3%, which also led to an increase in occupancy by 14 .6%. At the same time, the average price per night rose by 18% to 227 euros, the highest price in 20 European countries.
At the same time, Greece – at the same level as the European average – is recording a 16% increase in overnight stays over the next six months compared to the same period last year.
Tourism developed at a high pace in March-May 2023, confirming the positive expectations that arose at the beginning of the year.
According to the National Bank, the arrival of foreign tourists in Greece for the spring quarter exceeded the level of 2019 by 10%, and receipts – by 19% (2.8 billion euros). The “traditional” foreign markets played a key role, increasing their share to 42% (from 39% in 2019), as well as the US market, which stood out with an almost two-fold increase in arrivals compared to 2022 and consistently high costs while staying in country.
It is worth noting that the passenger traffic of the Athens airport “Eleftherios Venizelos” in July exceeded 3 million travelers.
There was a full return to pre-pandemic levels in July, according to official figures, with passenger traffic at Athens Airport increasing to 3.29 million, up 16.1% from 2022 levels, but also up 10.5% from pre-pandemic 2019.
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