2024-07-03 07:37:09
The large increase recorded this year by the short-term rental market in Greece is reflected in the June statistical report of the SETE Institute.
The increase in the number of active, available accommodations had already become evident from the first month of 2024. In particular, as shown in the graph below, in January the number of accommodations was 190 thousand recording an increase of +10.2% compared to in 2023. In February the increase continued with the accommodations amounting to 196 thousand showing an increase of +11.3% and in March the accommodations to 196 thousand, with the increase amounting to +11.6%.
In April, the number of accommodations was 212 thousand, marking an increase of +12.5%. Finally, an increase of +11.0% was recorded in May, with the number of accommodations reaching 218 thousand.
The number of beds follows a similar trend. In the first month of the year, the number of actives was 845 thousand, an increase of +8.4% compared to January 2023. In February, the number of beds amounted to 877 thousand, with an increase of +10.3%, while in In March there were 907 thousand beds, an increase of +10.5%.
In April, the number of beds reached 935 thousand, recording an increase of +11.5%. Finally, in May the number of beds was 962 thousand and the increase amounted to +10.2%.
As far as short-term rental accommodation occupancy is concerned, in April – the month when the tourist season begins – occupancy was 23% (against 24%) while in May it rose to 30% (against 26%).
It is noted that in July 2023, occupancy in accommodation reached 52% and in August 59%.
The average length of overnight stays in the period January-May 2024, compared to the corresponding one in 2023, varies according to the month, with most months recording a decrease.
In particular, in January, the average length of stay reached 3.5 nights recording an increase of +6.8% from the 3.3 nights of the previous year. February saw an increase in the average length of stay of 3.7 nights by +32.6% compared to 2.8 nights in February 2023. In March, the average length of stay was 3.5 nights showing a decrease of -1 .5% compared to the corresponding month last year. The downward trend continued in April by -1.5%, where the average length of nights was 3.8 versus 3.9. In May the average length of stay was 3.5 nights, registering a decrease of -10.0%.
The large increase in the short-term rental market is also recorded by the analysis company AirDNA. The demand for Airbnb accommodation this summer is up 18% compared to last year. At the same time, in May, Greece moved upwards both in terms of the number of active listings, and in terms of demand, but registering a decline in occupancies compared to May 2019.
Source capital.gr