Airbnb: Short-term rental listings double in 5 years

Over the five years from 2019 to 2023, the number of short-term rental spaces increased by 100%, while the number of hotel spaces grew by only 3.5%, reflecting the rapid spread of platforms like Airbnb in Greece.

In addition, the number of overnight stays in short-term rental homes will grow by approximately 18% per year between 2019 and 2023.

The average price of short-term rentals is 200-900% higher than long-term rentals, withaccording to a Grant Thornton study on the key trends and socio-economic impact of short-term rentals, which launched the Hellenic Chamber of Hotels’ Talking for Our Lives initiative.

As the study notes, this phenomenon leads to a decrease in the availability of long-term rentals and the displacement of long-term tenants. In addition, the limited supply of long-term rentals leads to an increase in the cost of housing.

Another aspect is that the uncontrolled spread of short-term rentals leads to serious noise and safety problems. In addition, overuse and pressure on local infrastructure disrupts the sense of community and transforms neighborhoods.

The growth of short-term rentals results in more waste per guest (+20%) than long-term renters and 40% lower levels of recycling solutions compared to hotel accommodation.

The Grant Thornton study also compares long-term let properties and hotel properties, and notes that the majority of residential properties in the country (66.8%) are older types and have low energy efficiency, in contrast to the country's hotel stock, which is 70% high energy class.

Commenting on the results of the above-mentioned study, XEE President Alexandros Vassilikos stressed: “Modern entrepreneurship must work for a positive social impact in the society in which it operates. The hotel industry has proven this through its actions and contributions over time. That is why, when the debate about “hypertourism“in the form in which they are conducted now, they may end anti-tourismwe have a responsibility to set the record straight. We are launching the WE ARE FIGHTING FOR OUR LIVES initiative, giving citizens a voice, not to oppose short-term rentals, but to demonstrate the need for fair regulation so that tourism can continue to make its enormous contribution to sustainability and social cohesion.”

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