Short-term rentals in Greece reached a new milestone in June 2025, with the number of available beds climbing to 1.061 million, surpassing hotel capacity by more than 166,000 beds, according to data released by the Institute of the Greek Tourism Confederation (INSETE).
This marks the second consecutive month of record-breaking numbers, following May’s count of 1.038 million beds—the highest recorded since INSETE began tracking the data in January 2019.
By comparison, data from the Hellenic Chamber of Hotels (HCH) indicates that Greece currently has 10,104 hotels across all categories, offering a total of 894,854 beds and 447,363 rooms.
Steady growth in short term rental capacity
The rise in short-term rental capacity has been steady throughout the first half of 2025. In April, available beds crossed the 1 million mark for the first time during a non-peak month —significantly earlier than the same milestone in July 2024, traditionally a high season for tourism.
- April 2025: 1.008 million beds (up from 935,000 in April 2024)
- May 2025: 1.038 million beds (up from 962,000 in May 2024)
- June 2025: 1.061 million beds (up from 991,000 in June 2024)
Eurobank: Short-Term rentals filled a gap—but at a cost
According to a report by Eurobank’s Economic Research Unit, the increase in short-term rental offerings between 2022 and 2024, along with the launch of new hotels, helped meet growing demand from international tourists.
However, the report also notes that these rentals underperform hotels in key metrics:
- Average occupancy rate: 30.1% (vs. 56.1% for hotels)
- Average length of stay: 3.7 days (vs. 4.0 days for hotels)
Between 2018 and 2024, Greece saw a 123.1% rise in overnight stays in short-term rentals—one of the sharpest increases among key Mediterranean tourism markets, including Spain, Italy, and Portugal. Over 80% of these stays were by international visitors.
Industry concerns over market imbalance
While short-term rentals have addressed accommodation gaps, they are also drawing criticism from within the hospitality industry.
In a recent interview with Kathimerini, Yiannis Chatzis, the president of the Hellenic Hoteliers Federation, warned that the unregulated expansion of the sector poses risks. “The unchecked growth of short-term rentals without clear legal oversight is already impacting both the tourism market and social cohesion,” he said.
He referenced international examples, such as Spain, where oversaturation of short-term rentals has contributed to rising housing costs, gentrification, and public backlash from residents—often referred to as tourist fatigue or tourism-phobia.
Re-evaluating the role of short-term rentals
Eurobank’s report further suggests that short-term rentals should return to their original purpose—that of the sharing economy, in which homeowners rent out their primary residences occasionally.
“A property rented out for 10 or 11 months per year is no longer a peer-to-peer arrangement. It becomes a full commercial operation and should be treated accordingly,” the report notes.
The study warns that prolonged use of short-term rental platforms can distort the market, as these platforms benefit from lighter tax and regulatory requirements than hotels. This imbalance fosters unfair competition, encourages unregulated development, and may further reduce housing availability for local residents.
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