Travelers seeking short-term accommodation in Athens are preferring neighborhoods close to the city center, according to the latest market findings as more holidaymakers prioritize costs.
More specifically, Koukaki, Thissio, Plaka, Kolonaki and Syntagma Square are the Top 5 areas most travelers are looking to book their Airbnbs in. Completing the Top 10 list are Pangrati, Kypseli, Neo Kosmos, Kallithea, and further away along the Athenian Riviera, Glyfada. Average night rates for Airbnbs in these areas range from 40 euros to 260 euros.
Aiming to reduce spending in the midst of the cost-of-living crisis which has sent airfares and hotel rates soaring, travelers – mainly families – are turning to Airbnb-style rentals.
“In recent years it has become clear that the short-term rental market can be the protagonist in the new tourism development model of Greece,” said Greek Property Managers Association (PASIDA) Chairman Andreas Chiou in an interview to “Vima tis Kyriakis”, adding that demand for Airbnb-style options was very strong.
The increasing demand for short term rentals, the growing availability of listings and travelers prioritizing budget are expected to affect the growth of the short-term tourist accommodation segment in Greece.
According to AirDNA, demand for Airbnb-style rentals in the country increased by 50.5 percent in June compared to the same month last year pushing listings up by 13.3 percent and boosting occupancy by 14.6 percent. Prebookings for the June-August period were up by 21 percent compared to 2022.
At the same time, average the rate for overnight stay increased by 18 percent to 227 euros, the highest among 20 European countries under review.
Indicative of the mounting demand, the number of overnight stays at Airbnbs in Greece is forecast to rise by 16 percent in the next six months compared to the same period last year and in line with the European average.