Greece is one of the five European countries with the most expensive Airbnbs. Prices have skyrocketed over the past twelve months.
A recent report from travel analytics company AirDNA found a surge in European travel, with average daily rates (ADR) up 15.7 percent compared to last year. At the same time, the average for Greece was fixed at €203.
Only four European destinations beat Greece in Airbnb rental prices. Topping the list is Monaco with an average daily rate of €338, followed by Iceland with €231, Switzerland with €208, and the UK with €205.
As for the most affordable countries, Moldova turned out to be the most budget-friendly with an ADR of €47. Other low-cost destinations include North Macedonia and Albania, where travelers would pay an average of €48 and €60 per day for Airbnb respectively.
What Affects Greece’s Airbnb Prices?
AirDNA mentioned several aspects of the cost of a European vacation. One of the most significant among these is seasonality. As for the whole of Europe, the highest prices were recorded in mid-August. This is in sharp contrast to the affordable prices of early February.
Greece generally supports pan-European trends. Here, the data shows that February is the most economical period, and July is peak season.
The rise in rates is also attributed to various other factors, such as the easing of Covid-19 restrictions, resumption of international travel, recovery of the European economy, and increased consumer confidence.
In our new in-depth report, we've uncovered:
💶 The most and least expensive countries to visit (think Monaco vs. Moldova)
📅 Optimal times to travel for the best rates (hello, February savings)
🏔 Countries where seasonality impacts pricing the most (Andorra, anyone?) pic.twitter.com/03MN1pH1b1
— AirDNA (@airdna) September 15, 2023
Experts have also noticed a significant rise in U.S. visitors this year. A seventeen percent growth from 2019 played a pivotal role in Greece’s current price trend. The country gained favor among U.S. tourists, aligning with broader European travel patterns during the post-pandemic summer.
Fall Season Prices
AirDNA has also identified several affordable European destinations for the fall season. North Macedonia, Kosovo, Moldova, Albania, and Montenegro offer budget-friendly stays with ADRs below €50.
In the pricier Western European region, Birmingham, Arnhem, Luxembourg City, West Mayo, and Reykjavík offer relatively affordable accommodation options with ADRs ranging between €137 and €243.
Greek Hoteliers Upset Over Airbnb in ‘Tourism for All’ Program
In 2022, Greece’s government integrated Airbnb stays into the “Tourism for All” initiative as a way to provide vacation options for low-income families. The decision, which caused controversy among Greek hoteliers, has sparked calls for regulatory action on short-term rentals.
Grigoris Tasios, president of the Hellenic Hoteliers’ Federation (POX), stressed the need for parity in safety and cleanliness standards. He demanded similar tax requirements for all hospitality businesses. It has been noted that some areas of Athens, such as Psirri, are undergoing changes amid the increase in Airbnb availability. The region’s dynamics are changing due to the increase in short-term rentals and boutique hotels.