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GreekReporter.comGreek NewsAirbnb Bookings in Greece Rise a Whopping 232% This Summer

Airbnb Bookings in Greece Rise a Whopping 232% This Summer

Airbnb Greece
Airbnb bookings in Greece skyrocketed for this summer. Credit: Greek Reporter

Airbnb bookings for the summer in Greece have sky-rocketed by a whopping 232% compared to the corresponding bookings of last year in the same period, recently released data show.

According to a report by AirDNA, one of the world’s most trusted resource for vacation rental research, there is an explosion of short-term bookings from the beginning of June until the end of September this year.

Airbnb bookings have seen an increase of 552% in Santorini, 429% in Athens, and 317% in Corfu. Those three are the top Greek destinations, making the country top of Airbnb bookings in Europe.

Greece is followed by Portugal with an increase of 196% and Croatia with an increase of 151%.

airbnb Greece
Credit: AirDNA

Based on AirDNA data, 74,000 short-term accommodation properties operate throughout Greece.

Short-term property rentals in Greece, saw their bookings devastated in 2020 and less so in 2021, as COVID-19 made its impact.

Airbnb bookings uncertain due to Ukraine war, COVID-19

AirDNA says that future forecasts for the European market remain slightly uncertain due to Russia’s ongoing attack on Ukraine, the potential impact of new COVID-19 variants, and the fact that demand for short-term rental accommodation continues to exceed supply.

The supply of available entries — previously reduced by the pandemic — continues to recover across the continent (+ 4.1%), but remains lower than in 2019 (-7.5%).

For the time being, the Russia-Ukraine crisis does not seem to have affected bookings, with analysts expecting the impact of the war to be felt later.

Demand peaked after the European continent pandemic in February 2022, with 20.8% more overnight stays compared to February 2019 and 73.9% more overnight stays compared to February 2021.

This demand pushed the average daily prices (ADR) 2% higher than the previous year and 28.9% higher than in February 2019.

For Europe, all of this led to a 77.3% year-on-year increase in short-term rental revenue to €2.4 billion ($ 2.6 billion) for February. By comparison, January 2022 revenue also increased by 103.4% on an annual basis.

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